Skydance On Cost Cuts, Streaming Partnerships & Big Breakup Fee If Another Buyer “Comes Out Of The Woodwork” For Paramount
deadline.comSkydance’s David Ellison, Jeff Shell, and RedBird Capital looked to woo Wall Street to their planned merger with Paramount highlighting $2 billion in running cost synergies and streaming break-even in a few years, or sooner if a partner emerges.
The possibility of a tech partnership came up consistently on a webcast with Wall Street analysts today, as well as international streaming agreements in the works under Par’s current CEO trio — but no details on either.
Shell will oversee the combined company under CEO David Ellison. RedBird’s cash injection in the deal will be the Gerry Cardinale firm’s biggest investment ever.
Other interested parties have 45 days to make a better offer. If one “emerges from the woodwork,” the Skydance camp said, it will get a hefty $400 million breakup fee.
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