Barry Diller Eyes Control of Paramount Pictures

Barry Diller, the 82-year-old media mogul, is exploring a bid for control of Paramount Pictures through its parent company, National Amusements Inc. Diller, who previously lost a bidding war for the company to Sumner Redstone in 1994, has signed nondisclosure agreements with National Amusements to facilitate negotiations. This follows the collapse of merger talks between Paramount and Skydance Media in mid-June. Concurrently, Paramount Global is actively seeking to merge its Paramount+ streaming service with another platform, with Warner Bros. Discovery showing interest in a potential joint venture. Such a merger could help the streaming service better compete with giants like Netflix and Disney, potentially triggering a wave of similar partnerships in the media industry. Paramount is also considering partnerships with technology platforms to enhance its content scale and profitability.