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Skydance Tells FCC Paramount Deal Will Boost CBS And Local Stations; Larry Ellison Will Control Company After Merger
Skydance and Paramount Global highlighted the impact that their proposed merger will have on CBS and local stations in a filing with the FCC that is part of initial steps to secure regulatory approval. The document also disclosed that Oracle co-founder Larry Ellison will own 77.5% of National Amusements, which will control Paramount Global, while […]
Skydance and Paramount Global highlighted the impact that their proposed merger will have on CBS and local stations in a filing with the FCC that is part of initial steps to secure regulatory approval. The document also disclosed that Oracle co-founder Larry Ellison will own 77.5% of National Amusements, which will control Paramount Global, while RedBird Capital is expected to hold the remaining 22.5%. Joe Biden’s administration has taken a particular interest in the impact of mergers on labor markets, and the Justice Department even successfully sued to block Paramount Global’s proposed sale of Simon & Schuster to Penguin Random House on the grounds that it would reduce competition and advances to authors.
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