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Top Of The Mountain: David Ellison’s Skydance Taking Over Paramount After $8 Billion Investment
David Ellison's Skydance Media has announced an $8 billion deal to take over Paramount Global, capping a seven-month quest.
The full board then OK’d the plan for a two-step transaction, first the acquisition of National Amusements Inc., the entity run by Shari Redstone that controls almost 80% of Paramount voting shares. In a press release, Skydance said it will “reposition Paramount to improve profitability, foster stability and independence for creators, and enable more investment in faster growing digital platforms.” Skydance Investor Group, comprised of the Ellison family and RedBird Capital Partners, will invest $2.4 billion to acquire National Amusements for cash.
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