 |
A major media corporation is seemingly considering the acquisition of an independent studio.
The Wall Street Journal reported on the 6th that Paramount is poised to acquire Skydance for approximately $5 billion.
Reuters reported that Paramount’s board members have opted for exclusive merger negotiations with the independent studio Skydance Media rather than a $26 billion offer from the private equity firm Apollo Global Management.
These negotiations are progressing faster than Apollo’s proposal, and if successful, it would signal the end of National President Shari Redstone’s media empire reign. The agreement grants Skydance a 30-day exclusive negotiation period with Paramount.
 |
According to The Wall Street Journal, under the discussed terms, National Amusements, Paramount’s parent company, is poised to receive over $2 billion in cash in the initial stages of the deal.
Additionally, Skydance could provide Paramount with substantial cash to bolster its balance sheet and assist in debt repayment.
On the other hand, Skydance, led by David Ellison, son of Oracle co-founder Larry Ellison, is pursuing the acquisition of National Amusements, which directly or indirectly owns about 77% of Paramount’s voting class shares.
Ultimately, the deal hinges on Ellison’s ability to merge Skydance with Paramount Global.
Most Commented