Tencent has withdrawn from Paramount Skydance’s hostile bid to acquire Warner Bros Discovery, citing concerns over increased US regulatory scrutiny of foreign investment,.
Tencent has withdrawn from Paramount Skydance’s hostile bid to acquire Warner Bros Discovery, citing concerns over increased US regulatory scrutiny of foreign investment, according to a filing with the US Securities and Exchange Commission. The Chinese tech conglomerate had initially committed $1 billion to Paramount’s Dec. 1 offer, but it was dropped as a financing partner in the company’s revised, all-cash proposal of $30 per share that was announced on Monday, per the South China Morning Post.
That removal followed Warner Bros.
