From CNBC: 2024-04-05 10:42:20

Shari Redstone, president of National Amusements, spoke at the WSJ Tech Live conference on Oct. 21, 2019. Skydance Media offers to merge its studio with Paramount Pictures in a unique deal. The consortium, including RedBird Capital Partners and KKR, could own over 45% or just over 50% of the new company, aligning control in a way different from the Redstone family who currently own a majority stake in Paramount Global.

Paramount Global, with valuable assets like CBS, Paramount Pictures, and Paramount+ streaming service, has struggled to grow in recent years. Skydance proposes a transformative deal to keep the company viable in the changing media landscape. The special committee is in exclusive talks with Skydance to explore the potential merger or consider other offers like the recent $26 billion bid from Apollo Global Management.

Oracle co-founder Larry Ellison, through his involvement in the deal, could provide Paramount Global with access to AI software and data technology. The new company, led by David Ellison and Jeff Shell, would assess strategic decisions like the future of Paramount+ and potential divestitures. Skydance’s commitment to new media, including video game development, could drive future growth and value for investors.



Read more at CNBC: Details of David Ellison bid