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What will be Paramount Global's market cap ranking among media companies by the end of 2024?
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Larry Ellison•Oracle•Paramount Global•David Ellison•Redstone•FCC•National Amusements•Paramount•Skydance Media•RedBird Capital•CBS•Bloomberg News
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Story
Larry Ellison to Control Paramount with 77.5% Stake in National Amusements After $8 Billion Deal
Sep 5, 2024, 05:35 PM
Larry Ellison, the software billionaire and Oracle co-founder, is set to control Paramount Global after a group led by his son David Ellison completes an $8 billion purchase of the Redstone family's interest in the company. According to a filing with the FCC, Larry Ellison will own 77.5% of National Amusements, Paramount's controlling shareholder, through a trust and series of corporations. David Ellison’s Skydance Media, along with RedBird Capital, will buy National Amusements for $2.4 billion. Paramount Global, the parent company of CBS, will be under Larry Ellison's control once the deal is finalized, Bloomberg News reports.
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