Paramount Pictures’ parent, Viacom Inc., has decided not to make a bid for DreamWorks SKG, saying shareholders would likely balk at a major acquisition at a time when it’s poised to split into two publicly traded companies, the Los Angeles Times reported.

With Paramount out of the bidding, General Electric’s NBC Universal is the only remaining suitor for the live-action studio of DreamWorks, founded 11 years ago by David Geffen, Jeffrey Katzenberg and Steven Spielberg. NBC Universal on Friday made a revised bid. DreamWorks has not publicly responded to the offer.

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