IAC entered into nondisclosure agreements with National Amusements, Paramount's majority shareholder, sometime after the collapse of the Paramount-Skydance deal in June, NYT said, adding it is unclear how far along the talks have progressed. IAC said it does not comment on rumors or speculation, while Reuters could not immediately reach Redstone for comment.
More consumers are choosing to watch free, ad-supported streaming platforms amid the rapid rise of subscription prices from traditional streamers.
Paramount Global (PARA) is set to increase prices for most of its Paramount+ subscriptions, starting Aug 20.