Paramount shares fall after CNBC reports Sony rethinking its bid

Shares of Paramount Global fell more than 7% on Tuesday after CNBC reported, citing sources, that Sony Pictures is rethinking its bid for the U.S. media company.

“People close to the situation that I’ve been speaking to of late indicate that the likelihood of a bid, at least for the full company, seems to be fading a bit,” CNBC’s David Faber said.

“That does not mean that there would not be some sort of bid potentially forthcoming.”