David Ellison, through Skydance Media and its financial backers including Redbird, has made a preliminary offer for National Amusements Inc., the parent company of Paramount Global. The offer is part of a potential deal to take Paramount Global private, as reported by various news outlets. The discussions are in the early stages, with information sharing and pre-diligence underway. Paramount Global's stock has seen an increase, rising as much as 8% on the news of the potential acquisition. Amidst the merger talks, Paramount Global CEO Bob Bakish has announced impending job cuts as part of a strategy to focus on earnings growth, content licensing, and operating as a leaner company. The company's focus on big franchises continues as it navigates the changing media landscape and potential shifts in company control.
Paramount Global CEO Calls for Staffers to Focus on Business ‘Execution’ as Acquisition Speculation Swirls, Skydance Media Talks Accelerate https://t.co/GQqeCwu0OD via @variety
Rumblings of a possible $PARA merger sent the stock up over 4% today and padded one trader's portfolio #UnusualActivity #options #optionstrading #calls https://t.co/tnrtJ2Ggcl
The Paramount CEO urged staffers to keep focused on their work amid ongoing shifts in the media business and a possible change in control of the company https://t.co/T4N29JZgSu
Paramount Is Cutting Jobs. There’s More to the Stock’s Gain on Thursday. https://t.co/q7sJH1ZL7w
⚠️ PARAMOUNT CEO BAKISH FOCUSES COMPANY ON BIG FRANCHISES, SAYS LAYOFFS COMING (Reuters) Paramount Global CEO Bob Bakish on Thursday said the media company would undergo layoffs as it strives to become a leaner company that spends less. Bakish said the entertainment industry… https://t.co/3RemifVZyZ
Paramount’s priority will be “driving earnings growth” through efforts including content licensing and workforce reductions https://t.co/D7rLwGkW4j
$PARA Paramount CEO Announces Layoffs As Cost Pressures, Take-Private Talks Build - CNBC https://t.co/UxKE6aza5d
Layoffs Coming At Paramount Global But No Details In Bob Bakish Memo On 2024 Strategy; CEO Acknowledges M&A Speculation https://t.co/PGzqIO2Ws7
It’s a deluge. Paramount Global CEO Bob Bakish just sent out a memo to employees warning job cuts are coming. Story here: https://t.co/nMYlklkAV7
Paramount CEO Urges "Execution" Focus Amid Deal Chatter, Makes "Earnings Growth" Priority for 2024 https://t.co/WvHRupKf3z
Paramount stock climbs as much as 8% on new take-private deal report https://t.co/5hKmyHJl82 by @allie_canal
Paramount stock climbs 5% on new take-private deal report https://t.co/MyGZb0Ppyd by @allie_canal
One thing on Paramount Global worth highlighting -- I was told Skydance/Redbird and Paramount Global are in still in the very early stages of information sharing -- almost pre-diligence. Just worth noting in that there are likely to be many more stories to come on this.
Paramount Global up 8 percent on this news this morning https://t.co/a02vitmA7n
$PARA (+3.7% pre) David Ellison Makes Offer for Redstone Family’s Media Empire - BBG https://t.co/hgL7PUlgjo
Paramount Global stock rises on report Skydance may partner on buyout bid https://t.co/VqBYmNU4S2
Breaking: @sherman4949 reporting that $PARA could be taken private Brilliant move. Why remain in public markets with 0 multiple Price will be interesting Latest catalyst for $DIS https://t.co/ywdBOFWTXf
A lot of investors and media watchers have asked me why Skydance would want NAI if $PARA remains public. I'm told Skydance has no interest in that. Any deal for NAI is just to get all of $PARA ... if it happens at all. Story here: https://t.co/a02vitm2hP
David Ellison’s Skydance Media and its financial backers are exploring a deal to take Paramount Global $PARA private - CNBC
News: I'm told Skydance Media is exploring a full takeover of Paramount Global. Any deal for NAI would be contingent on a merger of Skydance and Paramount, and the likely structure for that would be a complete take private of $PARA https://t.co/oqvrZmbfUg
Paramount & Skydance In Early Merger Talks? https://t.co/dAXMFj2lCd https://t.co/OwrrIFNNSq
Media heiress Shari Redstone receives preliminary offer for Paramount parent: report https://t.co/OGbglGENoP https://t.co/VbSs1VObxy
David Ellison makes offer for Paramount-owner National Amusements - Bloomberg News https://t.co/qelnoauL7i https://t.co/J7qpJP8CIV
*DAVID ELLISON MAKES OFFER FOR REDSTONE FAMILY’S MEDIA EMPIRE