There was a lot of talk about that Paramount was at an important moment in the financial part, given that they were not presenting good numbers, reaching the point of having conversations with MAX to unite streaming platforms. Another of the companies interested in acquiring shares was none other than Skydanceand it seems that they had the best convincing, since it has been reported that they reached an agreement to buy them in their entirety for a modest amount of money.
The board of directors of Paramount Global has accepted the offer of 8 billion dollars from Skydance Mediawhich now becomes its new owner. Shari Redstone, president of Paramount Global and majority shareholder, confirmed the sale, saying that this move will strengthen the company and ensure that its content “remains king.”
With the acquisition, David Ellison, CEO and Founder of Skydancewill assume the role of CEO of the new Paramount, while Jeff Shell, former CEO of NBCUniversal, will be executive chairman. Skydance will own 70% of the capital of the owners of MTV and Ellison has promised an investment of 6,000 million dollars to revitalize the company.
Here is what was mentioned by Ellison:
I am incredibly grateful to Shari Redstone and her family for entrusting us with the opportunity to lead Paramount. We are committed to energizing the business and strengthening Paramount with contemporary technology, new leadership and a creative discipline that aims to enrich generations to come.
Regulatory approval is the next step, although no significant problems are anticipated, as competitors have recently entered the market. Disney They made the purchase of FOX for $71 billion and the acquisition of Activision by Microsoft for $69 billion. Once the sale is complete, these properties will be Skydance:
– Paramount+
– Pluto TV
– Nickelodeon
– VH1
– MTV
– Paramount Pictures
– Paramount Channel
That means that the merger that was being discussed with MAX will have ended the talks and it will not be possible to carry them out. Unless the new owners make a change and reach new talks, a procedure that may take years to complete.
Via: P News
Author’s note: This is definitely unexpected news, and now it will be the turn of a new company to take over many properties.
#Paramount #bought #Skydance #millions #dollars
