Ellison-led group explores Paramount deal
investing.comSkydance investors, led by CEO David Ellison and supported by billionaire Larry Ellison, are reportedly in early-stage talks to acquire a majority stake in National Amusements, the parent company of Paramount (PARA).
The discussions involve a potential all-cash bid to purchase Redstone's stake in National Amusements, according to the WSJ.
PARA shares initially rose 2.3% before paring gains to trade just 0.2% in the green.
If successful, the Ellison-led group aims to pursue a second deal, seeking to merge Paramount Global with Skydance, known for producing films like «Top Gun: Maverick.»
The proposed two-step deal faces complexities due to Paramount's dual-class share structure and the substantial capital required.
The purchase of National Amusements would see the Skydance investors inject more cash.
National Amusements, under the control of Redstone, holds a commanding 77% of the voting shares of Paramount.
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