Paramount recently walked away from possible deals to be purchased by or merged with other companies. Now, the New York Times reports that billionaire Barry Diller is exploring a deal to buy Paramount. This comes after some reporters suggested that Paramount had decided not to sell and instead continue as its own company.
According to the report, Barry Diller and Paramount, in the last few weeks, signed a non-disclosed agreement to start talks for a possible deal. It is unknown exactly what stage the talks are in or exactly what the talks are for. It is possible that all or some of Paramount would be on the table.
This all comes as Paramount’s co-CEOs have announced it has hired bankers to sell assets as it looks for a path forward. The company stopped short of officially announcing what assets are up for sale but now, thanks to some other reports, we have a few ideas.
Paramount is looking at selling some of its 13 non CBS-affiliate TV stations, according to Deadline. Local TV stations have been selling at very high prices recently, and it looks like Paramount will want to cash in.
Other assets for sale reportedly include BET, which Paramount has been trying to sell for a bit but has so far failed to find an offer at a price it’s willing to accept.
The other big possible sale include the studio’s back lot where it creates its programs. It’s reported that Paramount is hoping to sell the lots only to rent them back with the option to rebuy them. The sale could bring in $2 billion in revenue that the company can use to help grow as it faces cord cutting and a weak ad market.