Financial News Agency, September 6 (Editor Shi Zhengcheng) As the control of global media and entertainment giant Paramount Global changes hands, Oracle founder Larry Ellison will soon be crowned "Media Tycoon's new title.
According to Forbes' real-time rich list, Ellison is worth US$176.8 billion, making him the fourth richest man in the world.. Given that Musk and Zuckerberg ahead of him own large social media platforms X and Facebook, and Bezos owns the Washington Post, Ellison’s interest in the media industry is considered to be in line with the super rich in the United States. orientation.
Ellison Sr. holds 77.5% of the shares
In the previously announced transaction, David Ellison, the son of Larry Ellison, stood in front of the stage. Skydance, which he controls, will merge Paramount and its parent company, National Entertainment Corporation, to form an organization called "New Paramount." The Ellison family and partners will invest more than $8 billion in capital.
(New Paramount transaction structure, source: listed company announcement)
Although there was speculation at the time that Ellison Sr. must have paid a lot of money, the specific investment share was not unveiled until this Thursday.
According to Skydance's application documents submitted to the Federal Communications Commission (FCC), Larry Ellison holds 77.5% of National Entertainment Corporation's shares through a series of entities and trusts. The remainder will be held by Gerry Cardinale, founder of Redbird Capital, a partner in the deal.
Generally speaking, the initiation of FCC review means that the ownership transfer of television broadcast license has been initiated. In addition to film studios that are very familiar to Chinese investors, Paramount Global also owns national television platforms such as CBS, MTV, New York's "Comedy Central", and a series of local news media networks.
(Paramount Global Asset Structure, Source: Announcement)
For example, early this year, Federal Reserve Chairman Powell’s rare TV media interview was with CBS’s flagship program “60 Minutes”.
(Source: "60 Minutes")
According to the application documents, the transaction involves nearly 30 television broadcasting licenses. In addition to domestic television stations in the United States, Paramount Global also operates international pay television channels.
(Proposed transfer of communication license, source: FCC document)
documents show that after the transaction is completed, David Ellison will serve as the chairman and CEO of "New Paramount". A company spokesperson also stated that David will The business has operational control. It is undeniable that the decision on major matters still requires Ellison's nod. Former NBC Universal CEO Jeff Schell will serve as president of the new company.
Generally speaking, the FCC review will have a 180-day time window. Skydance and Paramount said they expect the merger to be completed with in the first half of 2025.
The boss’s political leanings have attracted attention
Due to well-known reasons, most mainstream media in the United States have some left-leaning ideological tendencies, that is, they are more biased towards the Democratic Party. In the context of increasingly fierce partisanship in the United States, this acquisition has attracted special attention.
Larry Ellison is one of the main "big donors" of the Republican Super PAC, and he also held fundraising events for Trump in the early years. Therefore, this transaction has also caused concerns among pro-Democratic political groups.
Public documents show that Ellison is also a supporter of Kentucky Senator Rand Paul and Louisiana Representative Steve Scalise, who currently serves as the majority leader of the House of Representatives.
is writing an application to the FCC Skydance said the transaction will deliver significant public benefits by injecting capital and strengthening the balance sheet of "New Paramount", as well as introducing a high-quality leadership team with proven experience in the broadcast, media and technology industries. These new resources will significantly enhance and revitalize the over-the-air television broadcast services provided by Paramount.
Financial News Agency, September 6 (Editor Shi Zhengcheng) As the control of global media and entertainment giant Paramount Global changes hands, Oracle founder Larry Ellison will soon be crowned "Media Tycoon's new title.
According to Forbes' real-time rich list, Ellison is worth US$176.8 billion, making him the fourth richest man in the world.. Given that Musk and Zuckerberg ahead of him own large social media platforms X and Facebook, and Bezos owns the Washington Post, Ellison’s interest in the media industry is considered to be in line with the super rich in the United States. orientation.
Ellison Sr. holds 77.5% of the shares
In the previously announced transaction, David Ellison, the son of Larry Ellison, stood in front of the stage. Skydance, which he controls, will merge Paramount and its parent company, National Entertainment Corporation, to form an organization called "New Paramount." The Ellison family and partners will invest more than $8 billion in capital.
(New Paramount transaction structure, source: listed company announcement)
Although there was speculation at the time that Ellison Sr. must have paid a lot of money, the specific investment share was not unveiled until this Thursday.
According to Skydance's application documents submitted to the Federal Communications Commission (FCC), Larry Ellison holds 77.5% of National Entertainment Corporation's shares through a series of entities and trusts. The remainder will be held by Gerry Cardinale, founder of Redbird Capital, a partner in the deal.
Generally speaking, the initiation of FCC review means that the ownership transfer of television broadcast license has been initiated. In addition to film studios that are very familiar to Chinese investors, Paramount Global also owns national television platforms such as CBS, MTV, New York's "Comedy Central", and a series of local news media networks.
(Paramount Global Asset Structure, Source: Announcement)
For example, early this year, Federal Reserve Chairman Powell’s rare TV media interview was with CBS’s flagship program “60 Minutes”.
(Source: "60 Minutes")
According to the application documents, the transaction involves nearly 30 television broadcasting licenses. In addition to domestic television stations in the United States, Paramount Global also operates international pay television channels.
(Proposed transfer of communication license, source: FCC document)
documents show that after the transaction is completed, David Ellison will serve as the chairman and CEO of "New Paramount". A company spokesperson also stated that David will The business has operational control. It is undeniable that the decision on major matters still requires Ellison's nod. Former NBC Universal CEO Jeff Schell will serve as president of the new company.
Generally speaking, the FCC review will have a 180-day time window. Skydance and Paramount said they expect the merger to be completed with in the first half of 2025.
The boss’s political leanings have attracted attention
Due to well-known reasons, most mainstream media in the United States have some left-leaning ideological tendencies, that is, they are more biased towards the Democratic Party. In the context of increasingly fierce partisanship in the United States, this acquisition has attracted special attention.
Larry Ellison is one of the main "big donors" of the Republican Super PAC, and he also held fundraising events for Trump in the early years. Therefore, this transaction has also caused concerns among pro-Democratic political groups.
Public documents show that Ellison is also a supporter of Kentucky Senator Rand Paul and Louisiana Representative Steve Scalise, who currently serves as the majority leader of the House of Representatives.
is writing an application to the FCC Skydance said the transaction will deliver significant public benefits by injecting capital and strengthening the balance sheet of "New Paramount", as well as introducing a high-quality leadership team with proven experience in the broadcast, media and technology industries. These new resources will significantly enhance and revitalize the over-the-air television broadcast services provided by Paramount.
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