Paramount stock falls after WSJ reports it turned down more than $3 billion bid to buy Showtime

Shares of Paramount Global dropped 2.7% in afternoon trading, after The Wall Street Journal reported that the media and entertainment company had turned down...

Shares of Paramount Global PARA dropped 2.7% in afternoon trading, after The Wall Street Journal reported that the media and entertainment company had turned down a bid from former executive David Nevins to buy its Showtime streaming service for more than $3 billion.

7% in afternoon trading, after The Wall Street Journal reported that the media and entertainment company had turned down a bid from former executive David Nevins to buy its Showtime streaming service for more than $3 billion. Citing people familiar with the matter, the WSJ report said Nevins’ bid, which was backed by private-equity firm General Atlantic, was the latest approach for Showtime Paramount has received the past few years, including from former Showtime executive Mark Greenberg.

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