Skydance Paramount Global deal: Details of David Ellison bid

[PGage]

Long rumored, complex takeover of Paramount Global by Skydance and Red Bird heating up, may be announced soon.

P-Global would still be a publicly traded company, but Ellison would have controlling share (high 40s to 50%). Looks like the Redstones cash out (at a number far below what they were valued before Shari forced the merger, but arguably higher than any other deal could get them), remaining stockholders have their stock diluted, but hopefully at increased share price, and hope for future with very deep pocket investors, access to cutting edge tech and thinking.

Not clear what this means for P+. Ellison really wants Paramount Studios and the content library, maybe CBS for the short term. Showtime and other linear cable channels a dead weight, and P+ is losing hundreds of millions of dollars a month. A lot of folks think Paramount should be an influential and profitable supplier of entertainment content, not an embarrassingly bad and money losing distributor. Some sources report that Ellison had to promise Shari he would explore keeping P+ to get her to sign off on deal.

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Skydance Paramount Global deal: Details of David Ellison bid


https://www.cnbc.com/2024/04/05/skydance-paramount-global-deal-details-of-david-ellison-bid.html