Edgar Bronfman Jr to make Paramount bid days before Skydance merger
Alcohol-industry heir Edgar Bronfman Jr. is reportedly preparing to buy Paramount Global, less than a week before its $8 billion merger with Skydance Media becomes official. Bronfman, an entertainment mogul and son of the late Seagram CEO Edgar Bronfman Sr., is in talks with potential investors to back a takeover bid for National Amusements, 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 […]
Ex-Warner Music chairman Edgar Bronfman Jr. still pursuing bid for Paramount despite Skydance deal: report
Former Warner Music Chairman Edgar Bronfman Jr. is in talks with bankers about a possible bid for Paramount Global’s parent company, National Amusements. Axios reported Tuesday, citing sources. David Ellison’s Skydance Media struck a deal to buy Paramount earlier this month that included a 45-day “negotiation period” to find better terms. If Paramount receives another […]
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 […]
Mario Gabelli’s next move could be a lawsuit as he probes Paramount’s Skydance merger: sources
Will he or won’t he? That’s the question media insiders are now asking Paramount shareholder Mario Gabelli. Specifically, the question is whether the mercurial billionaire will file a shareholder lawsuit to block the Skydance Redbird acquisition team’s buyout of the high-profile owners of Paramount Studios and CBS and extract a better deal for himself and […]
How famed investor Mario Gabelli could wreak havoc on Paramount’s Skydance merger: ‘We want to see all the details’
The months-long negotiations over the sale of the Paramount Media empire have been filled with an exhausting number of twists and turns and are not over yet. Just ask Mario Gabelli. The famous investor is one of the media giant’s largest shareholders, and while most of his clients hold common stock, or “B shares,” some […]
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 […]
Skydance blasted over Jeff Shell hiring after Hadley Gamble affair
Feminist groups have denounced the appointment of scandal-ridden Jeff Shell as president of Skydance Media, just a year after he stepped down as CEO of NBCUniversal in the wake of his “inappropriate relationship” with former CNBC anchor Hadley Gamble. UltraViolet, which describes itself as a “national organization promoting feminist cultural and political change,” released a […]
Special committee of Paramount Global endorses plan to merge with Skydance Media, source says By Reuters – Investing.com
Investing.com — The S&P 500 continued its record rally on Monday, closing at an all-time high for the fourth consecutive day amid caution ahead of Federal Reserve Chairman Jerome Powell’s congressional testimony this week and key inflation data. As of 4pm ET (20:00 GMT), the S&P 500 was up 0.06% to hit a new closing […]
Paramount and Skydance Merge, Signaling End of Redstone Family’s Reign in Hollywood
NEW YORK (AP) — Entertainment giant Paramount is merging with Skydance, ending the Redstone family’s decades-long run in Hollywood and injecting badly needed cash into the long-established studio that has struggled to adapt to a changing entertainment landscape. It also signals the rise of a new strongman: David Ellison, the founder of Skydance and son […]