Ellison stalking Paramount?
January 11, 2024
Skydance Media CEO, David Ellison, is reportedly considering an all-cash bid for National Amusements, parent company of Paramount Global.
Skydance’s existing investors, including The Ellison family (Oracle), RedBird Capital Partners, and Tencent. The intention would be a merger between Paramount Global and Skydance, known for films such as Top Gun: Maverick (pictured), Terminator: Dark Fate and Mission: Impossible.
Reuters reports discussions are in the early stages; Paramount is the subject of regular takeover speculation.
The Redstone family that controls Paramount has been reluctant to part with the business. But the streaming industry’s challenges have impacted the company’s value, with over $16 billion (€14.6bn) in losses since the 2019 CBS and Viacom merger. The current market capitalisation stands at $9.4 billion, lower than Viacom’s pre-merger valuation. Analysts estimate Paramount’s value at $38.8 billion.
In December 2023, reports revealed discussions between Warner Bros Discovery CEO David Zaslav and Paramount CEO Bob Bakish regarding a potential deal.
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