Paramount recently turned away from proposed acquisitions or mergers with other corporations.
According to the New York Times, billionaire Barry Diller is in talks to buy Paramount Pictures. This comes after several reporters speculated that Paramount had decided not to sell and would instead operate as its own firm.
According to the article, Barry Diller and Paramount recently inked a non-disclosed agreement to begin discussions about a potential merger. It is unclear what stage the conversations are at or what they are for. It’s possible that all or some of Paramount will be on the table.
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This comes as Paramount’s co-CEOs stated that it has hired bankers to liquidate assets as it seeks a way forward. The corporation did not formally announce which assets are for sale, but according to other stories, we have a few guesses.
Paramount is considering selling some of its 13 non-CBS TV stations, according to Deadline. Local TV stations have lately sold for very high prices, and it appears that Paramount will want to cash in.
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Other assets for sale apparently include BET, which Paramount has been attempting to sell for some time but has yet to receive an offer at a price it is willing to accept.
Another major potential sale is the studio’s back lot, where it produces its programs. According to reports, Paramount intends to sell the lots and then rent them back with the possibility to rebuy them. The sale might provide $2 billion in income for the company, which will help it grow as it fights cord cutting and a sluggish ad market.
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