At this point, Paramount Global is preparing "to go it alone," LightShed Partners analysts Rich Greenfield, Brandon Ross and Mark Kelley speculated in a blog post Friday. "While Skydance could come back later in 2024 or next year, we sense National Amusements sees too many legal headaches with proceeding, given the special committee's view of the proposed transaction."
Regarding the Sony-Apollo bid, the LightShed analysts noted, "National Amusements does not want to see a breakup of the company and can stop any transaction they do not desire." They suggested that regulatory approval of such a deal, given restrictions on studio and TV station consolidation and foreign ownership, would take at least 12 months "and potentially far longer if the administration turns over in November."