Edgar Bronfman’s Paramount bid could keep Shari Redstone involved: report
Edgar Bronfman Jr. is open to Shari Redstone staying involved with Paramount Global if Paramount Global’s special committee accepts his consortium’s takeover bid for controlling shareholder National Amusements. CNBC reported: Friday. On Wednesday, the veteran media executive upped his bid to buy Paramount by offering National Amusements $6 billion and a minority stake in the […]
Paramount TV Studios to shut down as Shari Redstone-led media giant begins slashing 2K jobs ahead of likely Skydance merger
Paramount Television Studios will be closed as part of a broader cost-cutting effort ahead of parent company Paramount Global’s merger with Skydance Media, company executives said. The entertainment giant’s three co-chief executives announced the closure of the studio, known for producing shows such as “The Offer,” “Reacher” and “13 Reasons Why,” and began major layoffs […]
Shari Redstone’s estranged niece to make $140M from Paramount sale as part of trust from grandpa Sumner: sources
In a powerful media family torn apart by jealousy and rivalry, the aging patriarch publicly deteriorates as his granddaughter rushes to his side. Lies, betrayal, lawsuits. These aren’t the machinations of the fictional Roy family in “Succession,” but dramas involving the very real Redstone family, whose dysfunction is well-documented and partially inspired the critically acclaimed […]
Paramount shareholder sues to block Shari Redstone’s deal with Skydance
Paramount Global investors have filed a lawsuit to block the merger with Skydance Media, arguing it would cost shareholders $1.65 billion, according to a lawsuit filed Wednesday in Delaware Chancery Court. David Ellison’s Skydance Media closed on a deal to buy Paramount in early July, ending months of discussion and speculation about the future of […]
How Shari Redstone’s son played a key role in Paramount’s Skydance deal
In the end, maybe David just needed to call Tyler. The merger between Shari Redstone’s famed but fading Paramount Media empire and Hollywood studio Skydance may finally be inked, but it’s not quite set in stone yet. Before the signings dry up, it’s worth asking about the possibility of another bust. Last month, after Redstone […]
Shari Redstone flashes Amex gold card, Jeff Bezos brings Lauren Sanchez to ‘summer camp for billionaires’ in Sun Valley
Shari Redstone, Barry Diller, Jeff Bezos and his fiancée Lauren Sanchez were among those stirring up buzz at Allen & Company’s Billionaires Summer Camp, which kicked off in Sun Valley, Idaho, on Wednesday. Redstone’s deal to merge Paramount with David Ellison’s Skydance Media was a big talking point as business heavyweights gathered for the first […]
Shari Redstone flashes big smile as she jets into Sun Valley for ‘summer camp for billionaires’ after Paramount deal
Billionaire Shari Redstone was all smiles on Tuesday as she jetted off to Sun Valley, Idaho, with other business, tech and media moguls ahead of Allen & Company’s annual “Billionaires Summer Camp.” Mr. Redstone, looking energetic in a red blazer and sunglasses, was one of the first to arrive at the conference, known as a […]
Shari Redstone reaches preliminary deal to sell controlling stake in Paramount to Skydance Media for $1.75B
Shari Redstone has changed her mind again! Multiple reports on Tuesday said the media heiress had reached a tentative agreement to sell a controlling stake in Paramount Global to Skydance Media, just weeks after walking away from the deal between the two companies. Redstone, who controls the entertainment giant through his family-owned 77 percent stake […]
Shari Redstone refusing to sell Paramount to Skydance is shocking after negotiations fell through
Perhaps the biggest sign that traditional media is on the front lines heading to the intensive care unit isn’t that Shari Redstone made the bizarre move and refused to sell her dwindling empire to a company called Skydance, after months of tough negotiations. No, many astute media people, including those involved in the negotiations, believe […]
Paramount vows to focus on strategic plan after Shari Redstone ends deal talks
Paramount Global executives told employees on Wednesday the company would focus on a new plan to revamp its streaming business, cut costs and sell assets to pay down debt, according to an email seen by Reuters. The message came the day after Paramount’s controlling shareholder Shari Redstone decided to terminate deal negotiations with Skydance Media. […]