it House News on July 8th, Paramount Global officially announced its merger with Skydance Media of David Ellison (son of Oracle founder) last Sunday. The transaction has been unanimously approved by Paramount Global’s special committee. .
Paramount is one of the world's largest media properties, including Paramount Pictures, CBS, MTV, the UK's Channel 5 and Australia's Channel 10 . Paramount Pictures is the fifth oldest film studio in the world and the second oldest in the United States. It is also one of the "Big Five American Film Companies" and its IPs include the "Mission: Impossible" series and the "Godfather" series.
However, Paramount struggled with its transition to streaming and was divided over an internal power struggle that saw former CEO Bob Bakish ousted.
Paramount has been considering merging with Skydance Media, which backed the Paramount film Top Gun 2: Mavericks, and now the deal is finally official.
According to the agreement, Skydance’s $8 billion investment in Paramount (it House Note: currently approximately 58.354 billion yuan) includes a $2.4 billion payment to the American Entertainment Company that controls the group (currently approximately 17.506 billion yuan) RMB). After that, , a "new Paramount" worth US$28 billion (currently about 204.24 billion yuan), will establish .
The combined company will be led by david ellison as chairman and chief executive officer of and former nbcuniversal CEO jeff shell as president.
ellison The team plans to reposition Paramount to increase profitability, promote stability and independence for creators, and invest more in faster-growing digital platforms.
It is worth mentioning that Paramount Universal has also considered splitting some businesses and selling them separately, but they have not yet been reached. In addition, Sony Pictures and private equity giant Apollo considered a $26 billion (currently approximately 189.651 billion yuan) package to acquire Paramount, but the deal ultimately failed to materialize.
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