David Ellison does not own the primary, but he is planning to grow, he has learned in money.
Skydance chief – with money to burn from his billionaire’s father, the founder of Oracle Larry Ellison – knows that in the new era of the media, he needs scale to compete even when most other media companies are blazing.
Meanwhile, Shari Redstone is reportedly ready to throw Donald Trump up to $ 50m to settle a lawsuit with Paramountâ’s CBS News affiliate to make it happen, in money can confirm. More about this in little.
The scale is something that paramount-with a transmission channel that loses money and old media properties like CBS, Nickelodeon and MTV, plus a film studio-no. One of the reasons the Redstone control family is selling.
Simply put, Paramount is too small to compete with industry giants like Comcast and Warner Bros. Discovery.
So the conversation in the media circles is that after signed and approved and approved the paramount-scydance agreement from the White House (more on that difficult road at a moment) David and Larry will start buying things.
One problem is that Paramount has a relatively small international presence. This means that David (or being more accurate Larry) will have to dive into his portfolio to expand the stretch of his streaming product out of the SH.BA if they want it to start making some dollars like rival Warner Bros. Discovery has reached its loss in the broadcast.
Paramount can also use the best media signature properties. CBS is not what it was, and as we will discuss, its news sharing is a bastion of trouble for its entire history of great journalism. Nickelodeon and MTV have seen the gaze fall due to cord cutting and competition from social media (think Tiktok).
I was told the new management of Skydance led by Jeff Shell very skilled, once NBCU, and currently with Redbird Capital (Skydance partner), cannot wait to get his hands on CBS sports products and modernization of distribution.
But the sports are expensive. CBS pays more than $ 2 billion a year for NFL broadcasting rights and the connection has an option of choosing in four years.
Yes, Ellisons have money to make it work, so look for an agreement or two or three, I have been told if the main purchase is finally approved by Trump regulators in the Federal Communication Commission. (A representative of Skydance had no comment).
But their problem is not with money. It is with Trump FCC and the essential prolonged nature of the paramount, and CBS in particular, and focuses on charges of prejudice in its news programming now facing supervision from a white house that hates everything that wakes up. It is also with Trump, who is sued the company for the claimed prejudice.
Reporters have a first shield of change to express their opinion and cover the news, of course. This extends to the broadcast companies. But if those companies want to operate on public air waves (compared to cable) they also have some responsibilities, including the presentation of public interest programming (news that is political prejudice). Plus, they must comply with different laws, including those that run work practices.
Regulators review compliance with all of the above when media properties change hands, as in the case of $ 8 billion agreement to buy Paramount from Redstone. FCC wants primary insurance will no longer discriminate against employment through the equality of diversity and involvement policies that had prevailed its employment practices for years.
Reviews also begin when there is a reliable complaint made for the news to be bent in a political way, as was the case when a conservative legal group filed an accusation with the FCC that said CBS during the 2024 presidential elections, deceptively edited an interview with the then presidential candidate, Kamala Harris to make the sound more.
Both of these issues are being tried by the FCC and Trump, while Trump himself has sued CBS demanding $ 20 billion in damage during Harris’s contested interview.
Here’s where things stand: Paramount, even before changing his hands, has been throwing Dei at least in the name, and will continue to do so in practice after Ellison undertakes, I have been told.
FCC recently met with the Conservative Law Group known as Car, or the American Rights Center, which filed complaint about Harris interview that appeared in â â € 60 minutes.â €
CBS has publicly denied that he did anything wrong, but the FCCâ meeting with the car discussed legal remedies that would collect the group and lead to regulators that give the agreement the green light, sources said.
These measures include the movement of some of the CBS news operations from La Blue Blue or NYC and the appointment of an external group to monitor left -wing political prejudices in its news programming.
Redstone is said to be ready to pay Trump tens of millions of dollars to pay the lawsuit only so that she can place the case behind it and maintain any family assets, even if she said CBS rap.
And it is very clear why she is in such a hurry to put this saga behind it. Recall that in 2019, when she took over the media company created by her father, the late media Mogul Sumner Redstone, Paramount was worth $ 30 billion. The deal with Skydance now appreciates it with $ 8 and when everything is said and done, it will leave about $ 2 billion.
You do math: Paying of $ 50 million by Trump will allow her to store at least $ 1 billion of her inheritance.
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Image Source : nypost.com