Film company Skydance has entered negotiations to buy Paramount Global, CNBC reported. Paramount may leave the stock market and cease to be a public company. Paramount Global is currently valued at $8.2 billion, but has $15 billion in debt.
Skydance Media is in talks to acquire National Amusements, which owns 77% of media conglomerate Paramount Global. This was reported by the American television channel CNBC with reference to sources.
One of the options that Skydance is considering is Paramount’s exit from the stock market, after which it will cease to be a public company. The television channel clarified that negotiations on the agreement have barely begun and its legal aspect is still being studied.
Paramount has a market capitalization of about $8.2 billion, but the company has $15 billion in debt.
Skydance is valued at $4 billion and its founder is businessman David Ellison, son of Oracle founder Larry Ellison. He may be one of the investors in the transaction, the television channel highlighted.
In March 2022, Amazon closed its deal to buy Metro-Goldwyn-Mayer, Hollywood’s oldest film studio. Amazon has acquired more than 4,000 movies and 17,000 television series, which have collected 180 Oscars and 100 Emmy Awards.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
