David Ellison, the son of Larry Ellison, the world’s 9th-richest man, is poised to become a Hollywood power player as he closes in on buying Paramount.
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00:00The production company behind Top Gun Maverick is eyeing a deal with Paramount,
00:04and it could cement David Ellison's rise as a Hollywood power player.
00:08David, who is the son of billionaire Larry Ellison, owns Skydance Media,
00:12which is in advanced negotiations to take a significant stake in Paramount Global.
00:17Although the exact nature of the deal has not yet been defined,
00:20Skydance would own Paramount's extensive storied library.
00:23The library includes properties like the Godfather and Titanic,
00:27the entire CBS brand, several cable channels, and a streaming service with 67 million subscribers
00:33in Paramount Plus among its assets.
00:36The current outline of the deal would be structured so that Skydance would acquire
00:39Sherry Redstone's holding company, National Amusement, which controls about 77%
00:45of the voting shares of Paramount Global, but less than 10% of the total equity.
00:50Closing the deal would announce that the wealthy son of the ninth richest man in the world
00:54has perhaps made it in Hollywood.
00:56If shareholders don't close the deal,
00:59Redstone and the Paramount board might have to settle for another deal,
01:02which seems to be a $26 billion all-cash offer from private equity firm Apollo.