Money Wins Paramount

Larry Ellison, David Ellison
Who other than the Ellisons are willing to put that kind of personal money into a company that makes most of its revenue from linear television? Photo: Eric Charbonneau/Getty Images for The Hollywood Reporter
Matthew Belloni
July 9, 2024

Has Hollywood ever rooted harder for one billionaire’s kid to buy a company from another billionaire’s kid? With apologies to HBO’s Girls, David Ellison’s on, off, then on-again deal to merge his Skydance Media with Shari Redstone’s Paramount Global is almost certainly Peak Nepo Baby, right?  

Still, I think there was a bit of an exhale around town last night as the press releases hit. Barring some unlikely regulatory hiccup or an alternative suitor—like Barry Diller or Edgar Bronfman Jr. or Apollo Global taking advantage of the 45 day “go-shop” provision to make the Paramount special board committee a better offer—the home of the Paramount studio, CBS, the cable channels, and streamers is being sold to someone who actually wants to be in this business for a while. Like I’ve been saying for months now, this is probably the best-case scenario for these assets—and for Hollywood, a business in secular decline that just got a major boost from the billionaire class.