Media mogul Barry Diller weighs a bid to gain control of Paramount

A new suitor for Paramount Global has emerged. Following months of deal talks with a consortium that included David Ellison's Skydance and private equity firms RedBird Capital and KKR, the deal was called off as it awaited signoff from Redstone. National Amusements, which Redstone controls, holds 77% of class A Paramount shares. During the Hollywood strikes last summer, he said that despite cord cutting, traditional pay-TV is still profitable — unlike most streaming businesses. He called on legacy media to ...