Larry Ellison - celebsbar.com

Tatiana Siegel Here comes a plot twist: As Skydance Media and RedBird Capital Partners work to close the Larry Ellison-backed takeover of Paramount Global this spring, a consortium of investors who previously bid on the storied media conglomerate is mounting an eleventh-hour $13.5 billion offer. Variety has obtained a legal letter that is being sent to Paramount’s board Friday, Jan. 24, from Project Rise Partners that outlines a new bid that is higher than an all-cash offer the consortium made during the go-shop window.

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Amazon Joins List Of TikTok Suitors As App Deadline Looms

Amazon is among the suitors for TikTok as the digital platform nears a closely watched deadline to restructure its operations, a source with knowledge of internal discussions has confirmed to Deadline.

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Elon Musk Sells X to Elon Musk’s AI Company at $33 Billion Valuation, Mogul Says

Todd Spangler NY Digital Editor Wait — Elon Musk just sold X, the social network formerly known as Twitter, to himself? Well, kind of. Musk, in a post on X Friday, said that his artificial-intelligence company, xAI, has acquired X in an all-stock transaction that values X at $33 billion ($45 billion minus $12 billion in debt). The deal gives xAI a valuation of $80 billion, Musk claimed.

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Last-Ditch Bidder for Paramount Responds to Skydance Allegations It Misrepresented Financing, Claims It ‘Rushed’ Term Sheet Identifying Potential Partners

Todd Spangler NY Digital Editor Investment group Project Rise Partners, which has been trying to mount an effort to swoop in to buy Paramount Global and derail Skydance Media’s deal for the media company, has responded to Skydance allegations that PRP “fraudulently misrepresented” its financing and adviser partnerships. In January, Project Rise Partners submitted a letter to Paramount’s board with an offer it claimed was valued at $13.5 billion — and which PRP said was superior to the $8 billion bid from Skydance and RedBird Capital Partners (and backed by Oracle founder Larry Ellison, father of Skydance CEO David Ellison).

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Skydance Slams ‘Unserious’ Rival Bidders for Paramount as Trying to ‘Hijack’ FCC Proceeding

Todd Spangler NY Digital Editor The deal that would merge Skydance Media and Paramount Global is not over the finish line — and now lawyers for David Ellison’s Skydance are trying to fend off efforts by a group of investors to force Paramount to evaluate a higher $13.5 billion takeover offer. As first reported by Variety, in January an investor consortium calling itself Project Rise Partners submitted a letter to Paramount’s board with an offer it said was superior to the $8 billion bid from Skydance and RedBird Capital Partners (and backed by Oracle founder Larry Ellison, father of David Ellison).

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Paramount Board’s Special Committee Says It Is “Bound” By Merger Pact With Skydance; “There Will Not Be Any Engagement” With Rival Bidders

A special committee of Paramount Global‘s board of directors says it is “bound” by a pending agreement to merge with Skydance Media and will not consider an 11th-hour offer from a rival bidder.

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Could MrBeast Become Part-Owner of TikTok? Offers and Speculation Swirl After Trump Vows to Broker Deal to ‘Save’ App From Ban

Todd Spangler NY Digital Editor Will TikTok find a way to remain legal in the U.S. under a new ownership structure? A range of possible new owners for TikTok in the U.S. — including MrBeast, Elon Musk and Oracle founder Larry Ellison — have emerged as a federal law banning TikTok in the country went into effect this Sunday, Jan.

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Donald Trump Touts Tech Investment Of Up To $500 Billion In AI Infrastructure

Donald Trump appeared with three prominent tech executives to unveil a private sector initiative to build AI infrastructure in the United States, with an outlay of up to $500 billion.

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'Stargate': Trump to Announce $500 Billion AI Project With OpenAI, Softbank & Oracle - Here's What It Means

President Trump is about to announce a massive AI program.

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David Ellison Will Hold 100% Of Family Interest In Paramount When Skydance Deal Closes

An amended FCC filing by Skydance today says that David Ellison will hold 100% of the Ellison family’s voting interest in Paramount once that deal closes. The clarification comes amid possible concerns over control residing with his father, Oracle co-founder and CEO, Larry Ellison.

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David Ellison Will Hold Full Control of Combined Paramount-Skydance Following Deal Close, per Updated Filing

Todd Spangler NY Digital Editor Skydance Media submitted an updated FCC filing to reflect that David Ellison, CEO of Skydance, will hold 100% percent of the Ellison family’s voting interests in the newly combined Skydance-Paramount. According to the amended FCC filing Tuesday, David Ellison’s role will be chairman and CEO of New Paramount, combining the assets of Skydance and Paramount Global after the deal closes, expected in the first half of 2025. David Ellison also is designated as “sole manager” of the Ellison family entities — Hikouki LLC, Furaito LLC, and Aozora LLC — through which the Ellison family will own and control National Amusements Inc.

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Paramount Global Director Charles Phillips, Who Questioned Skydance Deal, Resigning From Board

Paramount Global board member Charles Phillips, who raised questions about Skydance Media’s offers during the companies’ months-long merger saga, is resigning from the board.

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Annapurna’s Entire Gaming Staff Quits: Report

Todd Spangler NY Digital Editor The staff of Annapurna Interactive, the games division of Megan Ellison‘s Annapurna, has resigned en masse after a deal to spin off the group fell through, Bloomberg reports. Founded in 2016, Annapurna Interactive has partnered with boutique game studios for several critically acclaimed titles, including “Stray” (pictured above), described as a “third-person cat adventure game set amidst the detailed, neon-lit alleys of a decaying cybercity,” as well as “What Remains of Edith Finch,” “Outer Wilds” and “Neon White.” The staff exodus came after a breakdown in talks between Ellison and Nathan Gary, formerly president of Annapurna Interactive, to spin the gaming unit off as a separate company.

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Skydance Tells FCC Paramount Deal Will Boost CBS And Local Stations; Larry Ellison Will Control Company After Merger

Skydance and Paramount Global highlighted the impact that their proposed merger will have on CBS and local stations in a filing with the FCC that is part of initial steps to secure regulatory approval.

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Edgar Bronfman Jr. Preparing Bid For Paramount Global – Report

As the August 21 deadline looms for other parties to make a run at Paramount (or forever hold their peace), the Wall Street Journal reports that Edgar Bronfman Jr. has not exited the Paramount scene but is in talks with investors and preparing a bid.

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New Paramount Bidder Apex Capital Trust Enters Fray With All-Cash Offer

With three weeks remaining in the “go-shop” period of Paramount Global‘s proposed merger with Skydance, it has emerged that a new suitor has joined the fray.

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Apex Capital Trust Submits $43 Billion Bid for Paramount Global, Including Payment of $400 Million Breakup Fee to Skydance

Todd Spangler NY Digital Editor A rich new offer is on the table for Paramount Global — but it’s not clear if it will unseat Skydance Media‘s existing deal to take over the media conglomerate. On Wednesday, Apex Capital Trust, a conglomerate of financial institutions and financial services providers, announced that it had submitted a competing offer to purchase Paramount Global shares with a total commitment of up to $43 billion. It’s unknown how receptive Paramount and Shari Redstone’s National Amusements Inc., the controlling shareholder, may be to the unsolicited offer.

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Edgar Bronfman Jr. Evaluating Potential Paramount Global Bid Countering Skydance Deal

Todd Spangler NY Digital Editor Billionaire and one-time media mogul Edgar Bronfman Jr. is still considering making an offer for Paramount Global. A rep for Bronfman confirmed that he is evaluating options for a potential bid for Paramount.

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Edgar Bronfman Jr. Still Mulling Bid For Paramount Control During Skydance “Go-Shop” Period

Veteran media exec Edgar Bronfman Jr. is continuing to explore a bid for National Amusements Inc., Paramount Global‘s controlling shareholder.

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Barry Diller Says His Paramount Global Pursuit Is Over Given The “Unlimited” Resources Of Larry Ellison; Also Talks NBA Deal, Kamala Harris

Barry Diller has confirmed he is out of the running for Paramount Global.

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How Skydance’s Small but Mighty Games Studios Could Give Paramount a Jolt in the Sector

Jennifer Maas TV Business Writer Paramount Global has a gaming problem — and Skydance Media could be the solution. Earlier this month Paramount and its controlling shareholder Shari Redstone agreed to sell the company to David Ellison’s Skydance, which has not one but two internal game studios.

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