Skydance Media has renewed its interest for Paramount Studios, exploring an all cash bid for a majority stake in National Amusements, which owns 77 percent of Paramount’s voting shares. Skydance is controlled by David Ellison and valued at $4 billion, while Paramount is controlled by Shari Redstone and has a market capitalization of $9.5 billion.
Skydance and Paramount have co-produced movies such as the Mission Impossible franchise, and TV series like Reacher and Jack Ryan.
The Wall Street Journal has reported that Paramount directors are reviewing “whether a merger with Skydance would be in the best interest of Paramount’s non controlling shareholders,” which, once again shows how investors are not interest in the long-term prospect for the studio, but prefer to achieve short-term gains.
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