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Tech Tycoon Larry Ellison Will Control Paramount Global After Skydance Deal Closes: Filing
Larry Ellison will be the majority shareholder of National Amusements Inc., which controls Paramount Global, once the Skydance deal closes.
The remaining 22.5% of NAI will be owned by Gerry Cardinale, head of private-equity firm RedBird Capital Partners, which teamed with Skydance and the Ellisons on the NAI/Paramount deal. The FCC filing disclosing the ownership stakes of NAI was required because the transaction involves the transfer to CBS’s 28 owned-and-operated local TV stations. David Ellison is set to become CEO of the combined Skydance-Paramount and Jeff Shell, ex-CEO of NBCUniversal and chairman of RedBird Sports & Media, will become president.
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