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

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 is exploring an all-cash deal to acquire National Amusements, the company that owns the bulk of Paramount Global voting stock, as part of a deal to merge Skydance and Paramount together. The latest Skydance and RedBird offer also includes a $1.5- billion cash infusion to shore up Paramount’s balance sheet and help reduce debt, according to one of the sources. Some Hollywood film producers and agents also have been rooting for the Skydance bid, believing it represents the best chance to preserve one of Hollywood’s oldest studios, known for such gems as “The Godfather,” “Chinatown,” “Terms of Endearment,” “Top Gun” and “Forrest Gump.” The Wall Street Journal first reported that Redstone was considering other offers for National Amusements.