Get the latest gossip
Skydance Still In Pole Position For Paramount As Two Hash Out Terms; Sony & Apollo Waiting In The Wings
David Ellison's Skydance remains in pole position to gain control of Paramount Global, with Sony and Apollo waiting in the wings.
Skydance and Paramount are deep into hashing out a complicated deal that would see the David Ellison ’s studio and its backers take control of the storied film and television company owned by Shari Redstone. The rough contours of a Skydance deal would see a circa $2 billion payout to Redstone for a majority stake in family holding NAI (which controls Paramount though its voting Class A shares) as well as the National Amusements theater chain and associated real estate assets. The company is banking on the fact that a cash injection coupled with a restructuring will boost Paramount’s anemic stock price over time and investors like the Ellisons and RedBird will have significant skin in the game.
Or read this on Deadline