All articles tagged with #redbird capital
Gerry Cardinale's RedBird Capital is involved in an $8 billion deal with Skydance Media to acquire a majority stake in Paramount, contributing $1.5 billion to reduce Paramount's debt. This move is part of RedBird's broader strategy to expand its influence in sports, media, and financial services.
Skydance and RedBird Capital have revised their takeover offer for Paramount Global to address concerns from Class B shareholders, who felt undervalued in the original deal. The new offer aims to sweeten the deal for these shareholders, while other bidders like Apollo-Sony and Warner Bros. Discovery remain interested. Paramount recently parted ways with CEO Bob Bakish, with interim leadership in place as the company navigates potential acquisition scenarios.
The House v. NCAA settlement has paved the way for private equity firms like RedBird Capital to invest heavily in college sports, particularly football. This landmark $2.8 billion settlement allows for significant financial infusion into athletic departments, potentially leading to a formal breakaway of the Power Five conferences. With private equity involvement, college sports are poised to become more professionalized and financially driven, fundamentally altering the landscape and operations of collegiate athletics.
Speculation is growing that David Ellison's Skydance Media and RedBird Capital are considering a bid for National Amusements (NAI), the parent company of Paramount Global. A potential sale of Paramount could reshape the Hollywood landscape and lead to further deals, as assets are reevaluated. Analysts predict that a deal could result in the combination of Skydance, Paramount, and CBS Studios to create a content producer with more scale. They also anticipate the divestiture of assets such as Paramount+ and PlutoTV, as well as most of Paramount's linear TV channels. The estimated enterprise value of these divestitures is around $13.5 billion.
Paramount Global stock surged over 14% after reports emerged that RedBird Capital and Skydance Media are considering acquiring National Amusements' voting shares to gain control of the media conglomerate. This potential acquisition could allow the group to offload undesirable assets or find a strategic partner. Paramount has been viewed as a potential acquisition target due to its smaller size compared to competitors. The company recently committed to divesting non-core assets to improve its balance sheet. If successful, the takeover could lead to the combination of Skydance with Paramount's existing studios and the possible shutdown of streaming service Paramount+.
Shares of Paramount Global surged over 14% after reports emerged that Skydance and Redbird Capital are exploring the possibility of taking over the media giant. Paramount, which has a market cap of $10.5 billion, has been facing declining revenue and streaming losses. The company's controlling shareholder, Shari Redstone, has shown interest in making significant deals. Redbird Capital, known for its investments in media and sports assets, including Skydance, is reportedly involved in the potential takeover. Paramount is also considering bundling its streaming service, Paramount+, with Apple TV+.
Stock in Paramount Global surged nearly 13% on speculation that Skydance Media and RedBird Capital are considering a takeover of Sheri Redstone's controlling stake in the Hollywood conglomerate. Representatives for RedBird Capital and Paramount Global declined to comment on the rumors. Wells Fargo analyst Steven Cahall believes there is a good chance of a deal being made, which could lead to significant divestitures and consolidation in the entertainment industry.
Skydance boss David Ellison and RedBird Capital are rumored to be considering a move to take control of Paramount Global through National Amusements, which owns 77% of Paramount's Class A voting shares. While details are still speculative, this strategy would allow RedBird and Skydance to gain control of Paramount without buying it outright, potentially leading to the offloading of certain assets. Paramount Global has been facing challenges in the streaming market, and its traditional businesses have been in decline. The financial community believes that now may be the best time for current ownership to sell.
Actor Ryan Reynolds, RedBird Capital, and Otro Capital are among the investors buying a 24% stake in Renault's Alpine F1 Team for about €200m ($218m), valuing the team at roughly $900m. The deal is aimed at raising the visibility of Renault's Alpine electric vehicle line, as it pushes to have more than half its sales in EVs by 2030. Formula 1 has jumped in popularity in the US since its sale to Liberty Media in 2017, and the deal reflects growing US interest in the sport.