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Skydance Media and its largest private-equity backer RedBird Capital Partners have been wooing Paramount for the better part of a year. The Skydance consortium, including fellow Skydance investor KKR, submitted a revised offer on Sunday. The deal would be worth roughly $32 billion, according to the source, with the value of Paramount and its $15 billion in debt making up the lion's share. Here's what we know about the deal, how much Redstone would get, and what a new Paramount would look like. Keeping Paramount public sets the Skydance bid apart from Apollo's potential offer, according to one of the sources.
Persons: Bob Bakish, Shari Redstone's, Tom Cruise, Mario Gabelli, Bakish, Getty, Redstone's, David Ellison, Larry Ellison, Ellison, RedBird, Gerry Cardinale, Goldman Sachs, Goldman, Skydance, Jeff Shell, Ben Affleck, Matt Damon's, Axel Springer Organizations: Skydance Media, RedBird Capital Partners, Paramount, KKR, Business, Ex, CNBC, Apple, New York Yankees, NFL, Bakish, CBS, MTV, Nickelodeon, ' Equity, Amazon Studios, Sony, Apollo, Wall Street Locations: Santa Monica , California, New York City, Skydance, RedBird
Alain Delon in "Purple Noon" (1960)Alain Delon in "Purple Noon." TitanusFive years after Patricia Highsmith's novel "The Talented Mr. Ripley" hit stands — the first of five Ripley novels — we already had the first big-screen adaptation. Marking the first role for legendary French actor Alain Delon, here he plays Ripley as a dashing young man who is tasked with bringing home Philippe Greenleaf. Instead, Ripley becomes Greenleaf. Unlike Matt Damon's portrayal in the role, from the start Delon's Ripley doesn't seem like someone anyone should trust.
Persons: Alain Delon, Patricia Highsmith's, Ripley, Philippe Greenleaf, Matt Damon's Locations: French, Greenleaf
"Air" is director Ben Affleck's ode to Nike and the creation of the Air Jordan. Matt Damon's character gives an emotional speech convincing Michael Jordan to sign with Nike. The Trump campaign used the monologue in its own campaign video, posted to Truth Social. "Air" is director Ben Affleck's ode to then-corporate underdogs Nike and their pursuit of Michael Jordan for an endorsement deal that would lead to the creation of the iconic Air Jordan shoe. The Trump version of the clip, distributed on Truth Social, includes a link to donate to his campaign.
Persons: Ben Affleck's, Air Jordan, Matt Damon's, Michael Jordan, , Donald Trump, Matt Damon, Ben Affleck, Sonny Vaccaro, Jordan, Damon, Trump Organizations: Nike, Air, Trump, Service, Adidas, Converse, UNC, Truth, Mar
[1/4] A team member from Interstellar Lab of Merritt Island, Florida, prepares Daikon Radish sprouts during NASA’s Deep Space Food Challenge Phase 2 prize announcement on May 19, 2023. The NASA-sponsored Deep Space Food Challenge prompted Sheehan to modify his invention as a way of producing edible proteins, carbohydrates and fats from the same system. TASTES LIKE ... SEITANThe resulting single-cell protein drink entered in NASA's contest has the consistency of a whey protein shake, Sheehan said. But the imperative for self-contained, low-waste food production requiring minimal resources has become more pronounced as NASA sets its sights on returning astronauts to the moon and eventual human exploration of Mars and beyond. Advances in space-based food production also have direct applications for feeding Earth's ever-growing population in an era when climate change is making food more scarce and harder to produce, Fritsche said.
Amazon's latest round of layoffs will include "a small, single-digit percentage" of cloud employees. Employees hoped a cloud unit all-hands would shed some light, but it provided little information. Amazon's latest round of layoffs will include "a small, single-digit percentage" of the employees in the company's massive Amazon Web Services cloud unit, according to leaked internal messages and employees present at the unit's all-hands meeting. Amazon CEO Andy Jassy on Monday announced plans to cut 9,000 employees, on top of the 18,000 layoffs the company announced earlier this year. Employees hoped a cloud unit all-hands would shed light on the plans, but according to internal Slack messages and employees present on the call, AWS CEO Adam Selipsky revealed little beyond saying a single-digit percentage of the cloud unit would be impacted.
Auto ads, usually among the most popular during the Super Bowl, were mostly absent this year in another sign of reduced spending by automakers grappling with a tough economy and shrinking consumer wallets. Data from research firm Edo showed that Warner Bros Discovery's (WBD.O) 45-second "The Flash" trailer with two Batmans - Michael Keaton and Ben Affleck - was 24 times more effective than the median Super Bowl LVII ad. The Super Bowl is one of the most lucrative hours for advertisers hoping to grab the attention of over a 100 million people watching the game. On Sunday, the Kansas City Chiefs secured a dramatic 38-35 win over the Philadelphia Eagles to claim their second Super Bowl victory in four years. The average cost of a 30-second Super Bowl spot this year was about $7 million, an 84% surge from ten years ago, data from Statista showed.
Private equity firms are investing heavily in film and TV companies, even amid a possible recession. Private equity accounted for 42% of deals over the last year vs. 24% in 2018, according to PwC. RedBird Capital just invested $100 million in Ben Affeck and Matt Damon's new production company, Artists Equity. And earlier that month, Swedish firm EQT invested in UTA, which makes the private equity player the largest outside shareholder of the talent agency. Insider's second annual list of the top private equity players in Hollywood highlights 16 firms, based on our reporting and conversations with investors and insiders.
2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Brad Pitt's production company, Plan B, and Diamond Sports Group both recently tapped big banks to explore their options. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Moelis and LionTree were just tapped to help figure out what's next for Sinclair's Regional Sports Networks, Diamond Sports Group, while Brad Pitt's production company, Plan B, also hired Moelis to shop the production company, according to Variety. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.
2022 kicked off with some huge transactions, from AT&T's WarnerMedia spin-off to private equity scooping up content players. Company valuations are set to fall back to earth in 2023, and private equity and strategics are lying in wait. Not surprisingly, WarnerMedia was at the heart of the richest transaction fee waterfall for big banks in 2022. Joshua Grode's Legendary Entertainment, backed by Dalian Wanda and now Apollo Group, which took a stake in the studio in January. There's lots of dry powder still in private equity, Navid Mahmoodzadegan, co-founder and co-president at investment bank Moelis, told Insider.
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