Tech billionaire Larry Ellison will become the controlling shareholder of Paramount Global when it is acquired by his son David’s Skydance Media, according to a filing with the US Federal Communications Commission (FCC).
Assuming the deal goes through, Oracle Corporation Co-Founder Ellison will own 77.5% of Paramount’s parent company National Amusements through a trust and several corporations.
The remaining 22.5% will be owned by Gerry Cardinale, Founder of private equity firm RedBird, the other company backing the Skydance takeover deal and the joint parent of production and distribution group All3Media.
Larry’s son David will serve as Paramount’s Chairman and CEO and will have operational control of the business.
Paramount Global is the owner of assets including movie studio Paramount, US broadcaster CBS, cable networks and brands such as Nickelodeon, MTV and BET, streaming services Paramount+ and Pluto TV and international linear channels such as Channel 5 in the UK and Australia’s Network 10.
Skydance signed a deal in July to acquire Paramount in a two-part process. Skydance and its deal partners, including RedBird Capital Partners, will acquire National Amusements for $2.4bn in cash. Skydance will subsequently merge with Paramount, offering $4.5bn in cash or stock to shareholders and providing an additional $1.5bn for Paramount’s balance sheet.
The transaction is expected to close in the first half of 2025, with the new company to be called New Paramount.
You are not signed in
Only registered users can comment on this article.
.jpg)
Big Blue Marble to unveil AI-assisted piracy detection at IBC2026
At IBC2026, Austrian media technology company Big Blue Marble will present its new AI-assisted capabilities for detecting and investigating content piracy alongside its broadcast-grade streaming and cloud media portfolio.
 supports up to eight LTO library drives (above) (1) (1).jpg)
XenData bridges file and object storage for archiving
XenData will introduce a trio of appliances at IBC2026 for archiving to LTO tape libraries, accessible simultaneously as a file system and as S3 object storage.
.jpg)
Field-to-edit workflow speeds up with FLX Reporter
Grass Valley will showcase FLX Reporter at IBC2026, a new mobile contribution app that connects field contributors directly to its Framelight X web editor, speeding up live production workflows.
Aquilon brings modular 4K/8K screens to IBC
French tech firm Analog Way will showcase Aquilon, its new range of modular, scalable 4K and 8K multi-screen presentation systems and videowall processors, at IBC2026 next month.
Aqua Broadcast’s Cobalt CP series hits the airwaves
Aqua Broadcast will unveil its Cobalt CP series of high-power FM transmitters at IBC2026, featuring the fully modular, hot-pluggable CP-8000 and CP-10000 broadcast transmitter models.
.jpg)
.jpg)
