BANGKOK (AP) — Chinese gaming and social media giant Tencent Holdings has withdrawn from Paramount Skydance Corp.‘s bid to buy Warner Bros Discovery, according to a revised filing of its takeover bid by Paramount with the U.S. Securities and Exchange Commission.
The filing seen Wednesday shows the Chinese company dropped its $1 billion financing commitment for the takeover bid.
Paramount said the Chinese company’s participation in the bid had raised concern, since it would be a “non-U.S. equity financing source,” that its bid might be subject to a review by the Committee on Foreign Investment in the United States, known as CFIUS. That was even though approval by CFIUS or by the Federal Communications Commission was not a condition of the bid.
The SEC filing, dated Monday, said that fore

Penticton Herald

National Post
National Post World
Akron Beacon Journal
Cache Valley Daily
AlterNet
Esquire
The Gaston Gazette Sports