Skydance Media CEO David Ellison has made a preliminary offer to purchase National Amusements, the holding company of the Redstone family, as a strategy to take control of Paramount Global, Bloomberg News reported Wednesday.
Ellison, son of Oracle founder Larry Ellison, has held discussions with Paramount about merging it with Skydance Media, after he takes control, the report said citing people acquainted with the matter. Each side have hired advisers and are exchanging financial information, the report added.
Shari Redstone is looking for a buyer for National Amusements, the holding company that controls Paramount. REUTERS
Skydance’s David Ellison has held talks with Paramount. NurPhoto via Getty Images
National Amusements and Ellison declined to comment. Paramount didn’t immediately reply to a Reuters request for comment.
Reuters had reported earlier this month that Ellison was exploring an all-cash bid for National Amusements.
