Shari Redstone reaches preliminary deal to sell controlling stake in Paramount to Skydance Media for $1.75B
What is the value of the deal between Shari Redstone and Skydance Media?
The preliminary deal between Shari Redstone's National Amusements and Skydance Media values the controlling stake in Paramount Global at $1.75 billion. Skydance Media, an independent studio, will pay this amount for National Amusements as part of the deal.
How much of Paramount does National Amusements control?
National Amusements controls 77% of Paramount's voting shares, despite only owning an equity stake of around 10% in the company. This controlling stake was built by Sumner Redstone, who transformed the regional cinema chain into a media and entertainment powerhouse through acquisitions, including Paramount, Viacom, and CBS.
What key assets does Paramount own?
Paramount owns various key assets, including Paramount Pictures, CBS Entertainment Group, BET Networks, Paramount Media Networks, and Paramount Streaming. These divisions encompass film production, television networks, cable channels, and streaming services, making Paramount a major player in the entertainment industry.