A new contender has emerged in the ongoing saga over who will take control of Paramount Global . And in true “Succession” fashion, the latest entrant is a familiar face chasing his white whale that got away. Barry Diller , the billionaire media giant who once was CEO and chairman of Paramount Pictures during the film studio’s New Hollywood heyday, is reportedly exploring a bid to take control of Paramount Global, according to a report in The New York Times .
Diller’s IAC, according to the Times, has signed non-disclosure agreements with National Amusements (NAI), the company that holds a majority of Paramount stock. Diller and IAC reportedly started exploring talks at some point after Shari Redstone walked away from conversations with Skydance , right when they were at the finish line. It’s unclear how far along talks are or any specific details of the bid.
IAC told IndieWire it does not comment on rumors or speculation. Reps for NAI did not immediately respond to a request for comment. If Diller, 82, were to take control of Paramount, he would finally win control of the company after he was previously outbid for Paramount in the ’90s by none other than Sumner Redstone.
Diller would be buying the company from Redstone’s daughter Shari. But more importantly, Diller would be back at home at the studio that launched his career. Diller was in charge of Paramount Pictures for 10 years beginning in 1974.
Under his watch the studio made “Raiders of the Lost Ark,” �.
