Paramount special committee extends Skydance ‘go shop’ period as it reviews Bronfman offer

Paramount Pictures’ special committee has extended the “go shop” period for Skydance Media, allowing more time for interested parties to make acquisition offers. This comes as the committee continues to review an offer made by Edgar Bronfman Jr. The “go shop” provision is part of a merger agreement that permits the company being acquired to seek out competing offers even after it has agreed to a merger deal. The committee’s decision to extend this period suggests they may be considering other offers for the David Ellison-led Skydance Media.