A month ago Skydance filed forms with the SEC suggesting that the Oracle founder could control Paramount after the deal closes, now it says David is firmly in charge.
told the Federal Communications Commission that the Oracle founder and tech mogul would have voting control of Paramount when the company closes itsIn order for the deal to close, Skydance needs approval not only from antitrust regulators at the FTC or DOJ, but also the FCC, which needs to approve the transfer of broadcast licenses owned by Paramount.
In its initial filing, Skydance said that Larry Ellison alongside Gerry Cardinale’s RedBird Capital would control the new company through various corporate entities. In the new filing Tuesday, the company clarified that David Ellison will have voting control over the companies that own the new Paramount, even if the larger Ellison family has an economic stake.
“As sole manager of these entities, David Ellison will hold 100 percent of the Ellison Family’s voting interests in NAI and New Paramount, in addition to serving as New Paramount’s Chairman and CEO,” the filing states.Danielle Directo-MestonThe Criterion Collection’s ‘CC40’ Limited-Edition Boxed Set Is Coming Soon: Here’s the Full Film List and Where to Buy Online. We use vendors that may also process your information to help provide our services.
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