Skydance Media CEO exploring all-cash bid to take control of Paramount - WSJ

Larry Ellison Reuters CEO Entertainment wellness WSJ reports

10.01.2024 - 19:53

Reading now: 552

investing.com:

(Reuters) — Skydance Media CEO David Ellison is exploring an all-cash bid to acquire entertainment giant Paramount Global's parent National Amusements, the Wall Street Journal said in a report on Wednesday, citing people familiar with the matter.

Ellison could take control of Paramount with financial help from other Skydance investors including his father Larry Ellison, Oracle (NYSE:ORCL)'s co-founder, the report said.

The investors would buy a majority stake in National Amusements from Shari Redstone and family who control the entertainment giant, it added.

Skydance Media, National Amusements, Larry Ellison and Paramount did not immediately respond to Reuters requests for comment.

Investors in Skydance include the family of CEO David Ellison, as well as KKR, RedBird Capital Partners and Tencent, according to a July 2023 company statement.

Read more on investing.com

All news from investing.com

About this in other media

Edmonton City Hall on lockdown, arrest made after shots fired and Molotov cocktail thrown inside building globalnews.ca /9 months ago

Best Marshall portable speakers: 8 picks to travel with your tunes livemint.com /9 months ago

Water resource inadequacy is a challenge India must take head on livemint.com /9 months ago

The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.