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Pact still needs approval by studio board's special committee; Paramount expected to get 45-day window to shop for better offers. Representatives for Paramount Global, NAI and Skydance declined to comment.

After the two companies had presented an offer to acquire Paramount Global for $26bn, Paramount’s board decided to negotiate with all the suitors, including Skydance as well.

The debut date for the docuseries, executively produced by Skydance Sports’ David Ellison, Jesse Sisgold, and Jon Weinbach, correlates with this year's FIFA World Cup.