David Ellison, not Larry, to control family’s Paramount stake after deal
1 month, 3 weeks ago

David Ellison, not Larry, to control family’s Paramount stake after deal

LA Times  

Movie producer David Ellison will control his family’s stake in Paramount Global once his Skydance Media completes its merger with the larger movie and TV company. The Ellisons and their partner RedBird Capital Partners are buying out the Redstone family’s National Amusements Inc., which owns the majority of the voting stock in Paramount. Hollywood Inc. Paramount, Skydance deal draws shareholder scrutiny The first lawsuit arrived Wednesday, three weeks after Paramount board members approved an $8-billion, two-phase deal with tech scion David Ellison and his backers. The Redstone family decided to cede control of the company that was put together by Sumner Redstone, the late father of Paramount Chairwoman Shari Redstone.

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History of this topic

Paramount Gave Up on Warner Bros. Merger After Months of Talks
1 month, 2 weeks ago

Paramount Gave Up on Warner Bros. Merger After Months of Talks

Live Mint  

-- Paramount Global talked to Warner Bros. Paramount held talks with at least 12 alternative bidders, identified in the filing as parties A through L. Warner Bros. was Party A, according to people familiar with the discussions. Paramount’s then-Chief Executive Officer Bob Bakish and Warner Bros. CEO David Zaslav first met in December to discuss a deal, and the two …

Edgar Bronfman Jr. withdraws offer for Paramount, allowing Skydance merger to go ahead
3 months, 3 weeks ago

Edgar Bronfman Jr. withdraws offer for Paramount, allowing Skydance merger to go ahead

Hindustan Times  

NEW YORK — The merger between entertainment giant Paramount and media company Skydance is set to go ahead after Edgar Bronfman Jr. withdrew a competing offer. Edgar Bronfman Jr. withdraws offer for Paramount, allowing Skydance merger to go ahead Bronfman, executive chairman of streaming service Fubo, told Paramount's special committee of directors Monday night that he would not proceed with …

Bronfman drops out of Paramount bidding; Skydance to claim prize
3 months, 4 weeks ago

Bronfman drops out of Paramount bidding; Skydance to claim prize

LA Times  

Billionaire entertainment executive Edgar Bronfman Jr. has bowed out of his long-shot bid to gain control of Paramount Global, clearing the way for David Ellison’s Skydance Media to claim the prize. We continue to believe that Paramount Global is an extraordinary company, with an unrivaled collection of marquee brands, assets and people.” It wasn’t immediately clear why Bronfman exited in …

Bronfman ups bid for control of Paramount to $6 billion
4 months ago

Bronfman ups bid for control of Paramount to $6 billion

LA Times  

Edgar Bronfman Jr. is leading an effort to buy Paramount Global, which already has a tentative deal with tech scion David Ellison. Former Seagram and Warner Music executive Edgar Bronfman Jr. continued his 11th-hour pursuit of Paramount Global, increasing his offer to $6 billion for the Redstone family’s investment firm and the historic studio, according to two people close to …

Hollywood’s Paramount rule
5 months ago

Hollywood’s Paramount rule

Live Mint  

The first rule of Hollywood: Never spend your own money. Now 41, an avid pilot and son of $172 billion net worth Oracle founder Larry Ellison, Mr. Ellison is set to take over the storied Paramount studio. Mr. Ellison, then in his late 20s, figured he’d raise several hundred million from outside investors for a film fund. One investor told …

Paramount and Skydance merge, signaling end of a family reign in Hollywood and the rise of new power
5 months, 2 weeks ago

Paramount and Skydance merge, signaling end of a family reign in Hollywood and the rise of new power

Hindustan Times  

NEW YORK — The entertainment giant Paramount will merge with Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape. Skydance, based in Santa Monica, California, has helped produce some major Paramount hits in recent years, including Tom Cruise …

Paramount-Skydance deal: Shari Redstone, David Ellison agree to merger terms.
5 months, 2 weeks ago

Paramount-Skydance deal: Shari Redstone, David Ellison agree to merger terms.

Slate  

If you designed a company from scratch with no goals other than to confuse people and make them fight each other, you’d structure your business a lot like Paramount Global. The buyer is Skydance Media, the production company founded by Oracle billionaire Larry Ellison’s son, David, who will take control of National Amusements, and thus Paramount, and combine Skydance and …

Paramount and Skydance merge, signaling end of a family reign in Hollywood and the rise of new power
5 months, 2 weeks ago

Paramount and Skydance merge, signaling end of a family reign in Hollywood and the rise of new power

Associated Press  

NEW YORK — The entertainment giant Paramount will merge with Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape. Skydance, based in Santa Monica, California, has helped produce some major Paramount hits in recent years, including Tom Cruise …

Paramount, Skydance to merge and end Redstone family’s reign in Hollywood
5 months, 2 weeks ago

Paramount, Skydance to merge and end Redstone family’s reign in Hollywood

Al Jazeera  

Deal also signals rise of new power player, David Ellison, Skydance founder and son of Oracle billionaire Larry Ellison. They laid out a two-step process through which Skydance and its partners will acquire National Amusements, which holds the Redstone family’s controlling stake in Paramount, for $2.4bn in cash. David Ellison, the 41-year-old son of Oracle billionaire Larry Ellision, founded Skydance …

David Ellison’s goal for Paramount: Make it a ‘media and technology’ company
5 months, 2 weeks ago

David Ellison’s goal for Paramount: Make it a ‘media and technology’ company

LA Times  

To compete in today’s tumultuous entertainment industry, Paramount Global will need to evolve into a “media and technology” company, tech scion and soon-to-be Paramount Chief Executive David Ellison told investors and financial analysts Monday, a day after the company’s board approved a merger deal with his Skydance Media. On Sunday, the two companies announced that Paramount’s board of directors had …

David Ellison is taking control of Paramount. Now the real work begins
5 months, 2 weeks ago

David Ellison is taking control of Paramount. Now the real work begins

LA Times  

Tech scion David Ellison faces a number of challenges to turn Paramount Global around now that he’s clinched control of the media company. The Skydance Media chief executive first made overtures last summer to Paramount’s nonexecutive chair, Shari Redstone, then spent months negotiating and renegotiating a deal acceptable to Redstone, Paramount’s board and the company’s shareholders. Last year, Paramount’s TV …

Paramount and Skydance agree to merge, marking a new chapter for the storied media company
5 months, 2 weeks ago

Paramount and Skydance agree to merge, marking a new chapter for the storied media company

LA Times  

Tech scion David Ellison’s months-long quest to win control of Paramount Global crossed the finish line Sunday, in a deal that marks a new chapter for the long-struggling media company and parent of one of Hollywood’s oldest movie studios. Paramount Global board members on Sunday afternoon approved the bid by Ellison’s Skydance Media and its backers to buy the Redstone …

So the Paramount and Skydance deal is back on track. What happened and what’s next?
5 months, 3 weeks ago

So the Paramount and Skydance deal is back on track. What happened and what’s next?

LA Times  

A storied movie studio and broadcast network are poised for a generational changing of the guard that could dramatically reshape the entertainment business. Shari Redstone and her family on Tuesday accepted tech scion David Ellison’s proposed $2.4-billion purchase of their investment firm, National Amusements Inc., commonly known as NAI, which owns the controlling shares of beleaguered media company Paramount Global. …

David Ellison agrees to buy Redstone family firm that controls Paramount
5 months, 3 weeks ago

David Ellison agrees to buy Redstone family firm that controls Paramount

LA Times  

Tech scion David Ellison has reached a preliminary deal to buy the Redstone family holding company National Amusements Inc., which would give his Skydance Media control over Paramount Global, according to three people close the situation who were not authorized to comment. The tentative agreement, which came together Tuesday, represents another dramatic reversal by media mogul Shari Redstone, who controls …

Barry Diller expresses interest in Redstone family firm (and Paramount controlling shareholder)
5 months, 3 weeks ago

Barry Diller expresses interest in Redstone family firm (and Paramount controlling shareholder)

LA Times  

Thirty years after getting squeezed out in an epic battle for control of Paramount Pictures, Barry Diller appears to be trying again. The 82-year-old media titan is among the suitors who have expressed interest in buying the Redstone family’s Massachusetts-based holding firm, National Amusements Inc., which controls the voting shares of media company Paramount Global, according to two knowledgeable people …

Paramount Global owner calls off merger talks with Skydance Media
6 months, 1 week ago

Paramount Global owner calls off merger talks with Skydance Media

Associated Press  

NEW YORK — National Amusements, which owns a majority voting stake in embattled entertainment giant Paramount Global, said Tuesday that it has ended talks on a possible merger of Paramount with movie production company Skydance Media. The potential deal had drawn attention for weeks amid concerns about Paramount’s future given its heavy debt load and declining television business. One media …

Why Shari Redstone went cold on a Paramount sale to Skydance
6 months, 1 week ago

Why Shari Redstone went cold on a Paramount sale to Skydance

LA Times  

Shari Redstone pulled the plug on Paramount’s proposed sale to Skydance Media on Tuesday, deciding to hold on to her family’s treasures. For seven months, media mogul Shari Redstone agitated for Paramount Global’s leaders to embrace her plan to hand the storied media company to tech scion David Ellison. Hollywood Inc. Paramount Global sale collapses after Shari Redstone pulls support …

Paramount Global sale collapses after Shari Redstone pulls support for David Ellison deal
6 months, 1 week ago

Paramount Global sale collapses after Shari Redstone pulls support for David Ellison deal

LA Times  

After months of high drama and boardroom tension, Paramount Global’s proposed sale to David Ellison’s Skydance Media collapsed Tuesday after failing to win approval from its onetime biggest supporter, controlling shareholder Shari Redstone. The Redstone family investment vehicle, National Amusements Inc., announced it had failed to reach “mutually acceptable terms” with Skydance for the clan’s controlling shares in the entertainment …

Skydance talks for Paramount near finish line, but Redstone family decision looms
6 months, 2 weeks ago

Skydance talks for Paramount near finish line, but Redstone family decision looms

LA Times  

Shari Redstone and her family must still decide whether to sell their family’s inheritance. But one big question hangs over the protracted deal talks: Will Paramount’s controlling shareholder Shari Redstone and her three children ultimately approve the deal? On Monday, following a weekend of negotiations, lawyers for the two sides — Skydance and the Redstone family — had agreed on …

Paramount Global unveils business plan and job cuts as sale looms
6 months, 2 weeks ago

Paramount Global unveils business plan and job cuts as sale looms

LA Times  

Shari Redstone, pictured here at the Sun Valley media conference, is weighing whether to sell her family’s holding firm and controlling shares in Paramount Global. Despite the potential sale of Paramount Global, controlling shareholder Shari Redstone kicked off the company’s annual investor meeting Tuesday by expressing confidence in its new management structure and hinting at more cost cuts to come. …

Skydance’s David Ellison nearing deal for Paramount after sweetened offer
6 months, 3 weeks ago

Skydance’s David Ellison nearing deal for Paramount after sweetened offer

LA Times  

David Ellison’s Skydance Media is close to clearing a major hurdle in its pursuit of Paramount Global. The Skydance proposal would give the Redstone family more than $2 billion for National Amusements, including money to pay off its debts, and its voting shares in Paramount. Hollywood Inc. David Ellison’s Skydance explores possible merger with Paramount through National Amusements Skydance Media …

David Ellison’s Skydance Media sweetens offer for Paramount
6 months, 3 weeks ago

David Ellison’s Skydance Media sweetens offer for Paramount

LA Times  

Paramount Pictures is the subject of competing bids to take over the Hollywood studio’s parent company. David Ellison’s Skydance Media and its investment partners have increased their offer to Paramount Global board members, signaling the technology scion’s strong intent to take over the storied media company. Since then, Paramount board members have been considering a rival $26-billion bid from Sony …

Deal or no deal for Paramount? Here are the options on the table
7 months, 3 weeks ago

Deal or no deal for Paramount? Here are the options on the table

LA Times  

Time is running out for Paramount Global and Skydance Media to reach a deal combining their entertainment empires within the 30-day exclusive negotiating window that closes Friday, and it appears likely that the week will pass without an agreement on a transaction. The Skydance scenario Since reports surfaced in January that Ellison’s Skydance was exploring an all-cash deal to acquire …

Paramount Global replaces CEO Bob Bakish with a troika of executives
7 months, 3 weeks ago

Paramount Global replaces CEO Bob Bakish with a troika of executives

Hindustan Times  

NEW YORK — Paramount Global on Monday announced that Bob Bakish is stepping down as CEO of the film, television and multimedia company. Paramount Global replaces CEO Bob Bakish with a troika of executives Bakish will be replaced by a troika of executives who will form a new “Office of the CEO.” The group includes George Cheeks, the CEO of …

A media heiress’s bid to sell sets off mayhem inside Paramount
7 months, 3 weeks ago

A media heiress’s bid to sell sets off mayhem inside Paramount

Live Mint  

The media heiress who controls Paramount Global, owner of CBS, MTV, Nickelodeon and the Paramount film studio, last year started seriously contemplating selling the business. Paramount has been in exclusive talks with Skydance toward a deal that would net Redstone more than $2 billion in cash for National Amusements, the holding company that owns the family’s 77% voting stake in …

Bob Bakish is ousted as CEO of Paramount Global as internal struggles explode into public view
7 months, 3 weeks ago

Bob Bakish is ousted as CEO of Paramount Global as internal struggles explode into public view

LA Times  

Paramount Global’s months-long internal struggles spilled into full view Monday as Chief Executive Bob Bakish was ousted and pressure mounted for the company’s directors to accept — or reject — a takeover bid by David Ellison’s Skydance Media. But the dramatic removal evokes a feeling of rearranging deck chairs on the Titanic.” Less than two minutes after Paramount announced Bakish’s …

Paramount, Shari Redstone face investor angst over possible Skydance deal
8 months, 2 weeks ago

Paramount, Shari Redstone face investor angst over possible Skydance deal

LA Times  

Shares of Paramount Global tumbled Wednesday as several of the company’s directors are stepping down as merger talks continue between the historic studio and tech scion David Ellison. Earlier in the week, shareholder Blackwood Capital Management sent a letter to Paramount’s board of directors, saying they “vehemently object” to the proposed Skydance deal. In a Monday letter to Paramount’s board, …

Suitors are wooing Paramount
9 months, 4 weeks ago

Suitors are wooing Paramount

Hindustan Times  

From “GREASE” to “Breakfast at Tiffany’s”, Paramount Pictures has produced plenty of good romances during its 112-year history. The wooing of Paramount Global, the studio’s parent company, has begun because Shari Redstone, president of National Amusements, which has a controlling stake in the firm, appears ready to sell. Paramount Global today comprises the film studio, the Paramount+ streaming service and …

David Ellison’s Skydance explores possible merger with Paramount through National Amusements
11 months, 2 weeks ago

David Ellison’s Skydance explores possible merger with Paramount through National Amusements

LA Times  

Film producer David Ellison’s Skydance Media is exploring an all-cash deal to acquire National Amusements Inc., the company that controls Paramount Global, as part of a bid to merge the two entertainment businesses, according to people familiar with the matter who were not authorized to comment. Skydance would be willing to purchase a controlling stake in National Amusements from Shari …

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