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for the nation's amusement The Paramount Pictures saga seems to have a life of its own inside my own LI algorithm (note to LI, I would love to tweak my own algo, that should be a premium feature, much better than AI convo starters)...... On again and off again, pending sales, deals, saga, office of the President, all the drama by a company who sells dramas for revenue. The stock, at time of writing, is worth $11.04 per share, market cap at $7.69B. Presumed streaming war winner (at at the least the present winner of the most recent battles), Netflix stock is at $649, market cap at $280B, 35x higher than Paramount. NVIDIA, the stock of the year, at $120 per share, market cap $2.98T, exceeds Paramount by 350x. So, why do we care what happens to Paramount? Just for shits and giggles, Oracle stock is trading at $124 per share, $340B in market cap. Seems like Paramount would be just a hobby for someone. Because it is good drama in an industry that sells drama, and that is about it. So, I would like to tweak my own algo and get more news from things that actually matter. As reported in another post, the "audience has moved on", I would like to as well. TheWrap https://lnkd.in/g2-AgezC
Why Shari Redstone Killed the Skydance Deal for Paramount
thewrap.com
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GTM Media & SAAS Executive l OpenAI, Google, Oracle, Adobe, Publicis, WPP I PE backed (Vista Equity, TPG Growth, Salesforce Ventures) Startup Exec - Multiple Exits I
https://lnkd.in/gxtaUSub Paramount has another potential option on the table. Private-equity giant Apollo Global Management submitted a $26 billion offer, including about $12 billion in equity plus assumption of debt. … An Apollo deal could be much more appealing to Paramount shareholders—giving them a cash payout—but wouldn’t give Redstone the hefty premium Skydance is offering. The valuation has turned heads since the Journal first reported on Skydance’s financials. The company’s expected revenue this year of just over $1 billion is one-thirtieth of Paramount’s and it is expected to generate earnings before interest, taxes, depreciation and amortization of $90 million. Right I mean there is some economic pie to be divided up here, and 95% of the shares have no voting power. If you make a good deal with the person who owns the controlling 5%, you can get a good deal for yourself too.
A Media Heiress’s Bid to Sell Sets Off Mayhem Inside Paramount
wsj.com
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When the heir apparent may not be, apparently: today marks the expiration of the exclusivity window of Skydance to acquire legendary Paramount Pictures, one day after an expression of interest by a joint effort of Sony and Apollo Group to make a $26bn cash offer for the entertainment company, according to the Financial Times, but do not intend to refinance #Paramount’s $16bn of existing debt. Their offer would be priced at between $17 and $19.50 per share as the Financial Times previously reported. Paramount’s non-voting class B shares jumped 12.5% to $13.80 after word of the competing bid. #Skydance, along with private equity groups RedBird and KKR, plans to buy National Amusements, which holds almost 80% of Paramount’s class A voting shares, for $2bn. Under this plan, Paramount would then acquire Skydance for $5bn in a stock deal. According to the #FT, #Paramount, #Sony and #Apollo have declined to comment. #GlobalBusiness #MNC
Sony and Apollo approach Paramount Global with $26bn bid outline
ft.com
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This wasn't on my bingo card for 2023. There are opportunities here: Paramount has a lot of good things too that could create a more competitive studio/streamer system with Warner Bros. Discovery. For me, the overlooked thing is actually creating quality new stories within existing IP that will generate the revenue that also pays off debts. Harry Potter has a lot of untapped stories: How Hogwarts came to be, stories from other wizarding schools, A quidditch-themed story, the Marauders (of the Marauders map), a Voldemort origin story, Harry Potter as an Auror. There's IP from the Hanna-Barbera cartoons that if in the similar vein (not the Velma disaster!) could engage audiences. There are new stories coming in the DC comics realm of things, but don't get me started about the executive overreach that happened previously there. I wait cautiously for what happens there. There's plenty more there. As Mufasa would say, remember who you are. There's a lot of good there already. Let that grow and flourish. The pessimist in me says there will be a lot of re-broadcasting old stuff (which helps too) to generate more revenue until executives let artists cook. But who knows, maybe 2024 can surprise me in a good way. #warnerbros #warnerbrosdiscovery #paramount #qualitystories https://lnkd.in/em7NzJti
Warner Bros. Discovery in talks to merge with Paramount
axios.com
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Y’all should read this.
David Ellison is heavy on platitudes and light on details of his plans for Paramount, but it's clear the changes won't wait for the government to approve his acquisition. The 5 biggest takeaways from my chat with Ellison and RedBird's Gerry Cardinale, and how the next year could play out... https://lnkd.in/gTwKKQZs
Money Wins Paramount
puck.news
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Unpacking 3 outcomes of the Paramount saga. Shareholder controversy vs regulatory & strategic uncertainty vs continual decline. I think I’d pick 2. Carving up the asset can simultaneously fit Sony’s strategy and mitigate antitrust action 1. Skydance: A complex deal that has divergent benefits for Shari Redstone and common shareholders - the latter diluted in second step below: 💰 Ellison ➡️ NAI ($2b) 📈 Paramount ➡️ Skydance ($5b Skydance valuation) 🤝 Ellison + PE ➡️ Paramount Newco 2. Apollo and Sony: Simpler $26b cash deal (Redstone gets $1.4b) with open questions around: 🇯🇵 Foreign ownership restrictions on US broadcast TV 🔫 Paramount+ given Sony’s arms dealer strategy 🧑⚖️ Antitrust scrutiny as Sony grows in size and strength 3. Status quo: Paramount share price is down nearly 50% in LTM and Charter renewal is upcoming. It’s hard to see an organic turnaround at this stage Quant analysis courtesy of MoffettNathanson LLC
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Channel Partner Marketing, Growth & Retention Campaigns, Author, Course creator, Developer Community and Stakeholder Manager
Wow, exciting news! This takeover could shake things up in the industry. I'm looking forward to seeing the impact of this big move! 🚀 #entertainmentindustry #paramounttakeover #industrynews #mergersandacquisitions #mediarevolution #businessnews #bignews #newbeginnings
😮 Skydance and Redbird are poised to announce a takeover of Paramount, with an equity check totaling $8 billion. https://lnkd.in/eBDmnXBC
Skydance to announce takeover of Paramount
cnbc.com
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Author of the upcoming book on the radicalization of corporate America, "Go Woke, Go Broke," senior correspondent fox business at Fox News Media and NY Post columnist
BREAKING: @Skydance - RedBirdCap said to be final stages of negotiating purchase of Paramount&Co.though talks remain fluid, sources say. Under terms being discussed, Shari Redstone will retain stake in company through preferred stock. RedBird’s Jeff Shell will play key management role; Jeff Zucker eying return to broadcasting as well by likely running @CBS. Talks remain fluid, but $PARA increasingly concerned that Sony -Apollo deal wouldnt pass regulatory muster. Deal could be finalized in 2 weeks; final terms could value payment to Redstone at $3 billion
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Paramount Bid: While Paramount is in an exclusive 30-day negotiation period with Skydance, Sony has announced its potential joint venture with Apollo to make a bid for Paramount. Previously, Apollo said they would take over Paramount for at least $26B, including debt. After adding the current market cap of Paramount of $7.5B to $15.9B outstanding debt and subtracting its $2.46B cash , we have Paramount EV value at $20.9B. Apollo is bidding Paramount for no less than $26B, so if the deal is successful, Paramount’s market value is $10.1B. With 652 million outstanding shares, the price per share would be $19.3, a potential 68% upside from its current price of $11.5/share (it has increased by 12% to 12.38$ this morning). Do you expect Apollo to submit a higher bid with the joint of Sony? Or Do you want Apollo or Skydance to take over Paramount? Give us your thoughts! https://lnkd.in/dVW7iPwn #valueinvesting #paramount #deals #private #equity #finance #analysis
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A quick thought on Skydance Merger: It could lead to an upscale in content production/ownership, which might be advantageous for PARA. An all-stock merger combined with equity issuance for cash could improve Paramount's leverage ratio. However, this arrangement would dilute the holdings of non-National Amusements, Inc. (NAI) shareholders, and would also lose out on another cash offer at premium. The benefits for these shareholders might not be immediately evident but more so depend on the longer-term success of the new Skydance leadership.
Paramount Bid: While Paramount is in an exclusive 30-day negotiation period with Skydance, Sony has announced its potential joint venture with Apollo to make a bid for Paramount. Previously, Apollo said they would take over Paramount for at least $26B, including debt. After adding the current market cap of Paramount of $7.5B to $15.9B outstanding debt and subtracting its $2.46B cash , we have Paramount EV value at $20.9B. Apollo is bidding Paramount for no less than $26B, so if the deal is successful, Paramount’s market value is $10.1B. With 652 million outstanding shares, the price per share would be $19.3, a potential 68% upside from its current price of $11.5/share (it has increased by 12% to 12.38$ this morning). Do you expect Apollo to submit a higher bid with the joint of Sony? Or Do you want Apollo or Skydance to take over Paramount? Give us your thoughts! https://lnkd.in/dVW7iPwn #valueinvesting #paramount #deals #private #equity #finance #analysis
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