Skydance Media CEO David Ellison is exploring an all-cash bid to acquire entertainment giant Paramount Global's parent National Amusements, The Wall Street Journal said in a report Wednesday, citing people familiar with the matter.
Ellison could take control of Paramount with financial help from other Skydance investors including his father Larry Ellison, Oracle's co-founder, the report said.
The investors would buy a majority stake in National Amusements from Shari Redstone and family who control the entertainment giant, it added.
Skydance Media, National Amusements, Larry Ellison and Paramount did not immediately respond to Reuters requests for comment.
Investors in Skydance include the family of CEO David Ellison, as well as KKR, RedBird Capital Partners and Tencent, according to a July 2023 company statement.