A special committee of Paramount Global’s board of directors tasked with managing the M&A process has declared the end of the “go-shop” phase of the pending merger with Skydance Media and said the transaction will close in the first half of 2025. In a statement issued this evening following the withdrawal of a rival bid […]
The largest proposed grocery store merger in U.S. history is going through the courts. On the one hand, there are the supermarket chains Kroger and Albertsons, who say their planned merger will help them compete against competitors like Costco. On the other side are the Federal Trade Commission’s antitrust authorities, who say the merger would […]
Paramount is taking more time before an official handshake with Skydance and is using the additional 15 days granted in the merger agreement to consider another offer – a surprising last-minute offer from Edgar Bronfman Jr., which the heir to the Seagram liquor fortune has just sweetened. Bronfman originally made a $4.3 billion offer on […]
Through the acquisition, CDC Houston becomes the majority owner of all three restaurant properties in the massive development in north Houston. HOUSTON — CDC Houston, a subsidiary of New York City-based Coventry Development Corp., has acquired a majority interest in the 337-room Houston City Place Marriott from San Antonio-based Affinius Capital and Dallas-based Woodbine Development […]
Hyatt has officially announced the sale of the Hyatt Regency Orlando to a joint venture of Ares Management and Rida Development. The deal also includes a new Grand Hyatt being built next door. ORLANDO – Hyatt Hotel Corp.’s high-profile sale of the 1,641-room Hyatt Regency Orlando includes construction of a 2,500-room Grand Hyatt to be […]
Latest news on deals, developments, data and more. Rockbridge buys in Chicago. Columbus, Ohio-based owner and developer Rockbridge has acquired the 200-room Hyatt House Chicago West Loop/Fulton Market hotel, located one block from McDonald’s headquarters. The name of the seller and the price paid were not disclosed. Built in 2019, the 14-story hotel is the […]
Latest news on deals, developments, data and more. Joint venture sells Hollywood hotel at a discount. A joint venture of London-based MetLife Investment Management and New York City-based Loews Hotels & Resorts has put its 625-room Loews Hollywood Hotel up for sale at a discount, according to The Real Deal. The joint venture offered the […]
Rupert Murdoch’s News Corp could sell its Australian pay-TV provider Foxtel Group. At the end of a commentary on what News Corp CEO Robert Thompson described as an “outstanding” year for Murdoch’s news company, there was the revelation that there had been external interest in Foxtel, which has a total of more than four million […]
