Paramount Acquisition Bid

The entertainment industry is abuzz with activity as multiple offers flood in for Paramount’s acquisition. The consortium, headed by Skydance, is waiting for a decision from Paramount’s special committee before any concrete steps can be taken. With recent expressions of interest from Apollo and Sony, the Skydance group is anxiously looking for Redstone’s support to reaffirm her commitment to the highly anticipated deal.

Redstone’s Next Move

The Skydance consortium is not willing to sit idly and be a stalking horse offer for Apollo and Sony. However, a second person suggests that depending on Redstone’s response, Ellison, an influential player connected to the deal, may be open to collaborating with her.

State of Silence

Representatives of Skydance, Redstone’s National Amusements, and Paramount’s special committee have refrained from providing any comments at this time.

Latest Bid by Apollo and Sony

Apollo and Sony have put forward their latest offer to acquire Paramount, as reported by CNBC. The bid is currently under consideration by Paramount’s special committee.

Skydance’s Revised Deal on the Table

The latest deal proposed by the Skydance consortium unveils a lower offer of under $2 billion to Redstone for her controlling stake in Paramount. However, this offer still stands higher than the consortium’s initial proposal. To ensure fairness, the consortium will supplement additional capital allowing common, Class B shareholders to be compensated at a remarkable 30% premium above the undisturbed trading price of approximately $11 per share, according to reliable sources familiar with the matter.

Valuation of Skydance

Skydance’s valuation, as part of the revised deal, remains steadfast at approximately $5 billion. Comparatively, it remains uncertain whether the bid jointly presented by Apollo and Sony matches the same premium.

Redstone’s Preference

Previously, Redstone declined an offer by Apollo, opting instead for exclusive talks with Skydance. Redstone’s objective has been to keep Paramount unified, a goal that aligns with Skydance’s offer, as reported by CNBC. Contrarily, it is strongly surmised that a private equity firm vying for acquisition may choose to dismantle the company.