Proactive Investors - Skydance Media, the independent Hollywood studio, is reportedly in the initial stages of negotiating an all-cash acquisition of National Amusements, the parent company of media conglomerate Paramount Global (NASDAQ:PARA).
This potential deal, as detailed by The Wall Street Journal, could eventually lead to the merger of Skydance and Paramount.
According to the article, discussions currently revolve around Skydance CEO David Ellison and other investors, including his multi-billionaire father Larry Ellison, purchasing at least a majority stake in National Amusements from the Redstone family.
This in turn move would set the stage for a merger between Skydance and Paramount Global (NASDAQ:PARA).
Skydance is notable for producing major Paramount films such as 'Mission: Impossible — Dead Reckoning' and 'Top Gun: Maverick'.
The report also mentioned interest from Warner Bros Discovery Inc in a potential combination with Paramount.
However, those discussions have not progressed significantly.