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Paramount shares surge 4.7% in premarket trading following the end of exclusive deal talks with Skydance Media. A special committee will now consider rival bidders. Warner Bros. Discovery faces potential challenges if it loses NBA media rights. Apollo-Sony and Skydance are potential suitors for Paramount. Amazon is set to acquire NBA in-season and play-in tournaments as part of a new rights deal.
"We're interested in the entire package. We want to buy out all the shares, take it private and move on from there," says @RealByronAllen on Paramount. "We're open to working with somebody like a Skydance, a RedBird." $PARA https://t.co/bxuMvQmkOw
Amazon Prime is expected to be a major player in the NBA’s broadcast future https://t.co/HFDkuf0WqV
In the fall of 2022, Warner Bros. Discovery's CEO stunned the sports media world by saying, “We don’t have to have the NBA.” Now, amidst pressure for TNT to hold onto the NBA's media rights, he's changing his tone: "It's a great league... We love the NBA.”