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NEWS OF THE DAY! Paramount Global's CEO Bob Bakish Faces Imminent Departure Amid Sky-High Merger Talks: Insider Scoop! 1. Paramount Global (PARA) is a big media company. 2. The CEO, Bob Bakish, might get fired soon, possibly on Monday. 3. He won't be part of the company's financial report for the first quarter of 2024. 4. The division heads of Paramount (PARA) might take over during the earnings call. 5. Paramount is thinking about merging with Skydance Media. 6. Bakish couldn't impress Shari Redstone, who's a major shareholder, and she wants him out. 7. The merger talks with Skydance Media are important, and Bakish's departure might affect them. 8. Bakish became the CEO of Paramount after leading Viacom, which merged with CBS in 2019 to create Paramount Global. =>Please follow Finplate and stay updated with the latest #mergersandacquisitions news. Thanks in advance. To read the news in detail, click below: https://lnkd.in/g9Apv_6C

Sony and Apollo's $26B Bid for Paramount: A Game-Changer in the Media Landscape 🎥📺 In a stunning move, Sony Group and Apollo Global Management have reportedly made a massive $26 billion all-cash proposal to acquire Paramount Global, the media giant behind iconic brands like CBS and MTV. This offer, which also includes the assumption of Paramount's debt, comes amidst ongoing merger discussions between Paramount and Skydance Media, led by David Ellison. The potential merger with Skydance Media, which would involve buying out the controlling Redstone family at a premium and combining Ellison's company with Paramount, has faced criticism from some Paramount investors who are worried about the dilution of their holdings. As a result, there have been calls for Paramount to explore alternative bids. The Sony-Apollo proposal presents a compelling opportunity for Paramount, as it would provide a significant cash infusion and potentially alleviate concerns surrounding the Skydance merger. However, with Shari Redstone's control over Paramount, the ultimate decision will likely hinge on her vision for the company's future. This development underscores the intense competition and consolidation within the media and entertainment industry, as companies seek to strengthen their positions in an increasingly digital and streaming-centric landscape. The outcome of this bid could have far-reaching implications for the future of Paramount and the broader media sector. If you are in the media industry, what are your thoughts on this potential acquisition? How do you think it would impact the competitive dynamics in the media and entertainment space? 🤔💡 #MediaMergers #SonyApollo #ParamountGlobal #Skydance #EntertainmentIndustry

This week’s most important private equity news (2/3)   Paramount Global's shares surged as Sony Pictures and Apollo Global Management made a $26bn offer for the troubled media giant. Offer made by Sony's CEO and Apollo's partner, lifting Paramount's shares by 12%. Paramount, home to Paramount Pictures, CBS, and MTV, among others, faces struggles in streaming transition and internal power conflicts. CEO Bob Bakish ousted amid clashes with controlling shareholder, Shari Redstone. Skydance Media merger considered, sparking shareholder concerns.    Full note: https://lnkd.in/e2gChP3A   #privateequity #newsweek #BloomCapital

Paramount Global and Skydance are merging, ending the Redstone era! 🎬🤝 🔑 Key Highlights: ✔️ David Ellison will lead the combined company. ✔️ Deal size: $28 billion, including $2.4 billion for National Amusements and $4.5 billion for shareholders. ✔️ Paramount class A shareholders get $23/share; class B get $15/share. ✔️ Merger expected to close in Q3 2025, subject to regulatory approval. 💡 What's Next?: - A new era for Paramount with a focus on creative leadership and innovation. - Emphasis on content, sports, and tech integration. - $2 billion in run-rate savings, with $1 billion in the first year. 📢 Full report by Reuters here: https://lnkd.in/dfTPCB8K #Paramount #Skydance #Hollywood #Merger #Entertainment #Media #Innovation #Leadership

$26 Billion Bid💰💰 Sony Group and Apollo Global Management are said to have made a $26 billion proposal to buy Paramount Global, the owner of CBS and MTV. The offer would be an all-cash deal for Paramount shares and the assumption of debt. Paramount, which is controlled by Shari Redstone, has been weighing a merger proposal from David Ellison, head of Skydance Media and son of Oracle co-founder Larry Ellison. That proposed transaction, which involves buying out the controlling Redstone family at a premium and merging Ellison’s company into Paramount, has been criticized by other Paramount investors concerned about dilution of their holdings. Some have urged Paramount to consider other bids. Sony Pictures Entertainment Apollo Global Management, Inc. Paramount Pictures Bloomberg #entertainment #update CBS Viacom Skydance Oracle Ellisons

🆕 #TMTnews 🔗 🔝 Skydance Media and Paramount Global agree to deal terms 🤝 Skydance and Paramount have signed a definitive agreement to establish "New Paramount" – a groundbreaking media and technology enterprise. 🌟Key Highlights: - 💵 Major Investment: The Ellison Family and RedBird Capital Partners are investing over $8 BLN into the new entity, acquiring National Amusements, Inc. - 👍 Stockholder Benefits: Class A stockholders to receive $23 per share, and Class B stockholders $15 per share, with a total of $4.5 BLN in cash available to public shareholders. - 👥New Leadership: David Ellison will serve as Chairman and CEO, with Jeff Shell as President. This dynamic team is set to rejuvenate Paramount and CBS brands. - 💡Innovative Vision: New Paramount aims to be a creative-driven hub for storytellers, enhancing content delivery via Paramount+ and Pluto, and revitalizing linear networks CBS and Paramount. - 🎯Strategic Repositioning: The plan includes boosting profitability, stability for creators, and expanding investment in digital platforms. 🔍 Transaction Details: - Skydance to merge with Paramount in an all-stock transaction, valuing Skydance at $4.75 BLN. - Skydance Investor Group to own 100% of New Paramount Class A shares and 69% of Class B shares post-transaction. - The cash election offers a 48% premium to Class B stock and a 28% premium to Class A stock as of July 1, 2024. 🚀Impact and Future Vision: - This merger consolidates financial and technological prowess with Paramount’s iconic IP, ensuring a creative-first, technologically advanced future. - Emphasis on animation, gaming, film, sports, news, and television, with enhanced digital presence. - Promises to preserve the 100-year legacy of Paramount and the cherished CBS brand, securing a prosperous future for the creative community. This merger represents an exciting transformation for the entertainment industry, promising stability, innovation, and growth for Paramount and its stakeholders. #Skydance #ParamountGlobal #NewParamount #MediaInnovation #EntertainmentTransformation #Leadership #Investment #Technology #ContentCreation #Merger

Bronfman Joins Forces with Roku for Potential Last-Minute Paramount Bid - Another 25th hour surprise could be in store for Paramount as Edgar Bronfman Jr. is reportedly still exploring a bid for the media giant, even as the go shop period on their merger with Skydance Media comes to a close. Bronfman is reportedly partnering with Roku, along with private equity firm Fortress Investment Group, and Steven Paul who was considered a possible suitor for Paramount after the last Skydance deal collapse. While Paul had already expressed interest, and a private equity group for financing make sense, Roku is a surprising addition to the mix. Best known as a streaming device maker, the company is also a big player in advertising and operates the Roku Channel a FAST and premium channel service on its devices. While the Roku Channel was one of the earliest FAST platforms, it’s quickly been overtaken by cross-platform rivals like Paramount-owned Pluto TV. Thus Roku could benefit from taking over a competitor in the FAST space, and bring some streaming tech expertise to the mix with two media-savvy partners in Bronfman and Paul. #freecast corp.freecast.com https://lnkd.in/eZ7i9RYd

Paramount Global has agreed to merge with Skydance, ending a protracted negotiation process, which means the Redstone family will relinquish control of the historic movie studio and media company. The merger, involving an $8 billion investment by a consortium including RedBird Capital Partners and KKR, assigns National Amusements an enterprise value of $2.4 billion and is subject to regulatory approval and a 45-day go-shop period for other potential offers. This merger represents a significant shift in Hollywood, positioning David Ellison, founder of Skydance, as a key figure in the industry and marking a new era for Paramount amidst challenges such as a weak advertising market, declining cable TV customers, and the ongoing pursuit of streaming profitability. #Paramount #streaming #SkyDance #Merger

From Deadline: Paramount Global‘s beleaguered stock faltered Monday as investors fretted over the ongoing talks between controlling #shareholder National Amusements Inc. and Skydance Media.[...] The #shares, which have lost nearly half their value over the past year, retreated amid numerous reports about how a tentative deal between David Ellison‘s Skydance and Shari Redstone‘s National Amusements would be structured. While NAI controls more than three-quarters of Paramount’s voting shares, it has only about 10% of the company’s equity, posing a risk of dilution for a number of other shareholders.[...] In addition to the delicate matter of dilution, there is also the strategic conundrum of Paramount’s vast #linear #TV holdings, including CBS, more than two dozen local stations and #cable networks including Comedy Central and Nickelodeon. Ellison’s zeal for the Paramount Pictures division is clear. All indications are that he wouldn’t take as much interest in cord-cutting-challenged TV assets, not to mention #streaming outlets Paramount+ and Pluto TV. #mergersandacqusitions #ownership