Skydance Media CEO David Ellison bids for control of Paramount Global

January 24, 2024 5:54 p.m.

David Ellison's Sky Dance East said has to have do A preliminary offer has buy Shari Redstone bet In National Entertainment, THE family holding business that controls Primordial Global, according to has A Bloomberg report.

Representatives For Sky dance, National Entertainment And Primordial Global decreases has comment.

Deadline East audience THE THE situation East "Status what” concerning Skydance pursuit of THE media business, which was First of all reported In Deadline In early December, And There is A path has go In pick up A agreement For THE ultimate price, Primordial Worldwide.

National Entertainment controls about 80% of Primordial Global vote action. Ellison East mostly interested In THE studio but Primordial won't sell It is crown jewel alone. Acquire Redstone NAI bet would be be cheaper that purchase THE entire business downright. THE idea East that Ellison would be merge Sky Dance And Primordial And look has strip THE the company other assets.

Warner Brothers. Discovery was Also kicking THE tires of NAI/Paramount Global with CEO David Zaslav having conversations with both Shari red stone And Primordial Global CEO Bob Bakish. Wall Street gave that proposal A big inches down given WBD debt And struggle has get It is own financial House In order Since Discovery And Warner Media merged.

Rumors about A Primordial agreement to have heated up as THE the company finance are tense due has streaming losses, THE in progress decline of linear television And A weak announcement walk. THE business East planning A round of layoffs involving hundreds of personal.

Ellison's donors would be including her father, billionaire Oracle co-founder Larry Ellison. THE Ellison family are Skydance majority shareholders. THE rapid growth studio East A financial And producer on Primordial movies including THE smash High Gun: Nonconformist, TV series And A animation division that has A multi-year agreement with Netflix.

THE move has go through National Entertainment has has been controversial with a few investors of Primordial Global. Shari red stone would be receive A prime For her bet In NAI In that scenario, Primordial Global shareholders would be no.

Anthony D'Alessandro contributed has This report

JavaScript East required has load THE comments.

Loading comments...