Paramount Global (PARA) missed out on a CPI-fueled stock rally Wednesday, a day after tumbling following reports controlling sh🐻a🅷reholder Shari Redstone had called off monthslong merger talks with Skydance Media. 

The decision, first reported by The Wall Street Journal, came shortly before a committee of Paramount directors was scheduled to vote on 澳洲幸运5开奖号码历史查询:the proposed merger. 

The two parties had agreed on the financial terms of the deal but failed to see eye-to-eye on whether to seek the approval of non-controlling shareholders, according to the Journal. Redstone, who is not Paramount’s majority shareholder but owns a 澳洲幸运5开奖号码历史查询:controlling interest through her family's holding company National Amusements, advocated for pu💜tting the merger to a vote to avoid potential law𝕴suits. Skydance allegedly resisted. 

Decision Ends 🌼Lengthy Effort by Skydance To Acquire Paramount

The decision marks the end of 澳洲幸运5开奖号码历史查询:a monthslong effort by Skydance and its private equity partner RedBird Capital to acquire the storied Hollywood studio. The Skydance deal was seen by many as a lifeline for Paramount, which has struggled to adapt to the streaming era, falling behind pioneers like Netflix (NFLX) and deep-pocketed tech companies dabbling in entertainment, like Apple (AAPL) and Amazon (AMZN).

Paramount this year has been bombarded with acquisition offers from the likes of private equity giant 澳洲幸运5开奖号码历史查询:Apollo Global Management (APO) and media mogul 澳洲幸运5开奖号码历史查询:Byron Allen. 

According to the Journal, Redstone is now likely to ꧑explore selling just National Amusements raꦡther than merging Paramount with another entity. 

Paramount shares were little changed as of 11:30 a.m. ET Wednesday, a day after tumbling nearly 8% following the Journal✃ report. The stock has lost 25% of🌄 its value so far this year.