Paramount Global (PARA) shares saw a 3.6% pre-market advance following Bloomberg News report that David Ellison, the founder of Skydance Media, has presented a preliminary offer to purchase National Amusements.
National Amusements currently holds the Redstone family's majority 77% voting stock in Paramount Global.
Ellison's offer to the Redstone family is seen as a strategic move to gain control of Paramount, according to Bloomberg News. In addition to the offer, Ellison has engaged in discussions with Paramount regarding a potential merger with Skydance Media post his acquisition.
CNBC also reported on the matter, saying that Skydance is reportedly exploring the possibility of privatizing Paramount. Accordingly, Skydance has exchanged preliminary information with Paramount.
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