1 year ago
John Malone Reflects on Paramount Deal: Smart Move by Redstone
Imagine two groups wanted to buy Paramount Pictures.
John Malone and Barry Diller had a plan, but then the other group, led by Sumner Redstone, used a clever legal move to stop them.
This move was considered 'smart' by Malone, as it stopped their deal.
Ultimately, Redstone's group won.
This caused disappointment for Diller, who had hoped to run the studio.
This situation occurred decades before the recent Skydance deal for Paramount.
John Malone and Barry Diller discussed the Paramount Pictures deal during a panel.
Sumner Redstone used legal action to thwart Malone and Diller's bid.
Malone saw Redstone's move as smart, which ended their deal.
Barry Diller was disappointed to lose the opportunity to acquire Paramount.
The discussion was part of a Paley Center event and promotion for Malone's book.
- Who
- John Malone, Barry Diller, and Sumner Redstone
- What
- Malone and Diller discussed the Paramount Pictures deal that they lost to Redstone.
- Where
- At the Paley Center for Media.
- When
- During a recent panel session at the Paley Center for Media.
- Why
- To discuss the Paramount deal and reflect on Malone's book.
Key facts
- Key Figures
- John Malone, Barry Diller, Sumner Redstone
- Event
- Panel discussion at the Paley Center for Media
- Topic
- Paramount Pictures acquisition
- Malone's Book
- Born to Be Wired
- Redstone's Strategy
- Legal action against Malone
Quotes
John Malone
Media mogul and business collaborator
“I didn’t even get mad at Sumner. … I sat there and said, ‘That’s a smart move.’ It did blow us up. It blew us out of the deal.”
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“Obviously, it would have been a huge, huge home run. with his talent and Paramount, you know, and the industry behind it.”
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Barry Diller
Media mogul and business collaborator
“They won. We lost. Next.”
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“Rare to never.”
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