Skydance Media Eyes Acquisition of Paramount Global

Skydance Media, LLC, an American production company headquartered in Santa Monica, California, is reportedly looking to acquire Paramount Global. The chief executive of Skydance Media, David Ellison, is exploring an all-cash bid to take over the company by buying its parent, National Amusements.

Skydance Media’s plans to buy National Amusements were revealed by a source familiar with the matter. It was said that Ellison might take control of Paramount Global’s parent firm through financing from the existing investors of Skydance, which include China’s Tencent, RedBird Capital Partners, and The Ellison family.

Merger Upon Completion of the Deal

According to Reuters, if the acquisition deal pushes through and succeeds, Ellison may take another step and consolidate Skydance with Paramount Global. Based on the initial reports, the talks of the acquisition between the companies are still very early, so details are still vague at this point.

Moreover, since the negotiations have only started, there is still a high chance that the talks may not result in an actual deal that will see Skydance Media buying National Amusements. It was noted that many companies have been expressing interest in Paramount Global, as a number of them want to acquire Paramount Pictures. This studio boasts an impressive library of great titles, including “The Godfather” and “Star Trek.”

Skydance Media’s Proposal

BNN Breaking reported that Skydance Media’s chief forwarded a proposal indicating that Eliison and his band of investors would acquire a majority stake in National Amusements from Shari Redstone and her family, who owns a significant stake in the entertainment firm.

Aside from this information, other specific particulars of the proposed deal were not disclosed. Meanwhile, if the agreement is completed, the combination of Skydance Media and National Amusement will create one of the largest entertainment companies in the industry.

Photo by: Paramount Website