Skydance is claiming that Paramount’s special committee of directors has breached the terms of its agreement by extending the period of time when it can engage with other suitors, the Wall Street Journal’s Jessica Toonkel and Lauren Thomas report. “While Skydance is not currently exercising its right to terminate the Transaction Agreement, we reserve the right to do so in the future,” Skydance’s attorneys wrote in a letter. Paramount extended the “go shop” period until September 5 earlier this year after receiving a $6B proposal from Edgar Bronfman Jr. for Shari Redstone’s National Amusements, which controls Paramount, the authors note.
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