11
votes
David Ellison set as chairman-CEO, Jeff Shell as president of Paramount; Shari Redstone to sell family empire to Skydance Media in $8 billion deal
Link information
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- Title
- Skydance Media and Paramount Global Move Closer to Sale Agreement But Deal is Far From Done
- Authors
- Cynthia Littleton
- Published
- Jul 7 2024
- Word count
- 286 words
Matt Levine has written about the attempts to make this deal a few times. Particularly this bit at the end:
As I understand it, the issue is that Shari Redstone has 70% of voting shares but only a minority of total shares. So they need to pay her more, but how much more would be fair is unclear, and then other shareholders could and probably will sue.
I was going to write “minority shareholders” but it’s unclear what the minority even is. They made things complicated enough that it depends on your definition.