(Bloomberg) — According to sources, David Ellison has expressed interest in acquiring National Amusements Inc., the holding company of the Redstone family, in a bid to gain control of Paramount Global, the media powerhouse behind MTV and Nickelodeon.
Ellison has also been in talks with Paramount regarding the potential merger of his film and TV studio, Skydance Media, with the larger media company. Both parties have enlisted the help of financial advisers and are in the process of sharing pertinent financial details, as per the sources who preferred to remain anonymous.
National Amusements holds ownership of movie theaters and commands 77% of Paramount’s voting stock. Discussions regarding the terms of a potential acquisition of National Amusements by Ellison have taken place between Paramount Chair Shari Redstone and her team. Ellison intends to secure the necessary financing for the deal with the support of Skydance’s investors, including his father, Larry, who is the co-founder of software giant Oracle Corp. and one of the wealthiest individuals globally.
2024-01-24 22:18:46
Link from finance.yahoo.com