🎬📈 Interesting development in the world of film industry!

National Amusements, led by Shari Redstone, has reached a tentative agreement to sell its controlling interest in Paramount Global $PARA toDavid Ellison's Skydance Media. The news caused Paramount's stock to rise by more than 12 %. 📊🚀

$11.87 -$0.08 -0.67%

Skydance is prepared to pay $1.75 billion for National Amusements, which owns 77 % ofParamount's voting stock . The deal includes a 45-day period during which other bidders can submit their offers. Among those bidders are well-known names such as film producer Steven Paul, heir Seagram Edgar Bronfman Jr. and IAC's Barry Diller. 🎥

According to sources familiar with the matter, the deal with Skydance has been referred to a special committee of the board Paramount. The sale is intended as the first phase of a two-step transaction where a smaller independent studio would Skydance would merge with Paramount, which could have significant strategic advantages. 🌟

Historic studio Paramount Pictures, behind films like "Titanic", "The Godfather" a "Transformers." could be getting a new partner inSkydance, which has been involved in producing hits like "Top Gun: Maverick" a "Star Trek Into Darkness."

Ellison, son of co-founder Oracle Larry Ellison, has long been trying to get Paramount, and his combination with Skydance is Redstone's is considered strategically advantageous. Nevertheless, negotiations are ongoing with other bidders, indicating a high level of interest in controlling this iconic company. 📽️💼

These moves could mean big changes not only for the film industry but also for investors.

$11.87 -$0.08 -0.67%
Target Price
20.45 (+72.28% Upside)

What is your opinion on the current developments regarding Paramount, do you own shares of their stock? 📊💡

I'm not too keen on it and I'm certainly not going to include it in my portfolio.

I don't have their stock. I looked at them years ago but never got around to buying. Both the chart and the performance itself have put me off.

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