Paramount bidders await word from special committee evaluating options
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Paramount's special committee is evaluating offers for the company after ending exclusive negotiations with Skydance Media. Sony Pictures Entertainment and Apollo Global Management have expressed interest in acquiring Paramount. The studio has been struggling due to strikes, a soft advertising market, and declining cable subscriptions. Paramount's streaming service, Paramount+, lags behind competitors like Netflix and Disney+. The company's shares have fallen more than 65% since the merger of CBS and Viacom in 2019.
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