Shell will oversee the combined company under CEO David Ellison.
RedBirds $1.8 billion cash injection in the deal will be the Gerry Cardinale firms biggest investment ever.
Edgar Bronfman Jr. is seriously interested.
David EllisonGetty
Barry Diller has been eyeing Paramount as well.
The so-called go shop period was said to be a deal point requested byShari Redstone.
Redstone could simply sell her ownership stake, putting another party at Paramounts helm come what may.
She gets bought out either way.
I really want to thank Shari Redstone and the Redstone family for entrusting us with this incredibly iconic company.
It believes the savings can be achieved without hurting revenue growth.
About 50%+ of the efficiencies will be delivered by year one.
Execs on the call said they expect the deal to close in the third quarter of 2025.
Skydance anticipates restructuring and integration costs of $1.6 billion.
The deal has been many months in the making and died once when Redstone walked away.
David Ellisons father is billionaire Oracle co-founder Larry Ellison.
In the talk of tech hookups, its not clear if or how giant Oracle will be involved.
Likewise, international agreements alluded to by the current regime previously and execs today would also benefit Paramount+.
Its offering $23 for voting and $15 for non-voting shares.
Shareholders can also keep the shares and go for the ride.
Paramount is currently weighed down by a heavy debt load that threatens its credit rating.
