Skydance Media, which helped produce “Top Gun: Maverick” and Mission: Impossible franchise films, has reached a tentative deal that would give it a controlling stake in Paramount Global, according to a person familiar with the matter, who spoke on the condition of anonymity to speak freely about the potential agreement.
The reported $1.75 billion deal must next be approved by a special committee of Paramount’s board. Skydance’s agreement to buy National Amusements, which holds 77 percent of voting shares in Paramount, also permits a 45-day “go-shop” period in which Paramount may search for a better offer.
The proposed acquisition reflects Skydance’s growth ambitions and Paramount’s efforts to address $14.6 billion in long-term debt and play catch-up with rivals Netflix and Disney. National Amusements is led by Shari Redstone, the daughter of media mogul Sumner Redstone, who died in 2020.
Santa Monica, Calif.-based Skydance was founded in 2010 by David Ellison, the son of billionaire Oracle co-founder Larry Ellison. It quickly established itself in Hollywood, helping to produce hit films such as “Mission: Impossible — Ghost Protocol” (2011), the action thriller “Jack Reacher” (2012) — both of which starred Tom Cruise — and “World War Z” (2013), starring Brad Pitt.
The Wall Street Journal first reported the development on Tuesday.
Paramount declined to comment. Representatives for Skydance could not be immediately reached.
