Paramount Global (Nasdaq: Para) Controlling shareholder Shari Redstone has discussed selling the company’s film studio and other assets to Skydance. Skydance’s owners include Redbird Capital and billionaire Larry Ellison’s family.
Skydance, the production company behind “Top Gun: Maverick,” One person familiar with the matter said he is a strong candidate to buy Redstone National Amusements, which owns a controlling stake in Paramount. Financial Times coverage This was reported on Saturday, citing a person familiar with the matter.
The FT said talks were at a very early stage and it was not certain whether an agreement would be reached. Other parties were also interested in purchasing some of Paramount’s assets.
Skydance is particularly interested in Paramount’s film studio, but other assets could be bought and sold, including television networks such as CBS and streaming platform Paramount Plus.
Paramount (PARA) and Skydance declined to comment to the FT. Redbird did not respond to a request for comment.
The FT story appears to confirm Friday’s report that David Ellison’s Skydance Media has “extensive access” to Paramount’s assets, Pac News reported. Redstone officials are also in talks with others, and one deal scenario involves Skydance and Redbird Capital buying a majority stake in National Amusement.Paramount (PARA) stock transferred due to Pac News article 12% jump on friday.
Paramount (PARA) also introduced a new pay plan for executives last month that covers management changes.
Paramount (PARA)’s short-term interest rate is 17%.