The move represents another dramatic reversal by media mogul Shari Redstone, who controls National Amusements and its 77% voting shares in Paramount Global.
Tech scion David Ellison has reached a preliminary deal to buy the Redstone family holding company, National Amusements Inc., which would give his Skydance Media control over Paramount Global, according to a person close the situation who was not authorized to comment. Details of the deal were not immediately available, but the move represents another dramatic reversal by media mogul Shari Redstone, who controls National Amusements and its 77% voting shares in Paramount Global.
Redstone has long been impressed by Ellison's ambition and success as a producer in Hollywood, but last month she abruptly called off a proposed Ellison-led two phase deal for NAI and Paramount. The agreement was first reported by the Wall Street Journal. Under the previous deal proposal, Skydance and its financiers had planned to pay more than $2 billion for National Amusements. After the firm's debt was paid off, the sum would have provided the Redstone family with about $1.7 billion.
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