Ropes & Gray Guides National Amusements in Proposed Sale of Control of Paramount Global to Affiliates of Skydance Media | News & Events
Ropes & Gray advised National Amusements in the proposed sale of control of Paramount Global to affiliates of Skydance Media in connection with a broader transaction in which Paramount Global and Skydance Media propose to merge, forming “New Paramount” – a next-generation media and technology leader.
New Paramount will be a premier, creative-first destination for storytellers, dedicated to top-quality content and will be positioned to improve profitability, foster stability and independence for creators, and enable more investment in growth areas. The transaction will stabilize and strengthen Paramount as a world-class media enterprise, with a focus on technological advancements, across multiple entertainment platforms including animation, gaming, film, sports, news and television. The management team, led by David Ellison as Chairman and Chief Executive Officer and Jeff Shell as President, will draw on a wealth of operational experience and proven expertise in driving creative and media company growth designed to improve Paramount’s performance and foster further advancement.
Importantly, the transaction preserves the over 100-year-old legacy of Paramount as one of Hollywood’s most iconic production companies and CBS’ stature as a cherished source of news and entertainment. It also maintains American jobs, fosters continued innovation and secures prosperous future for the creative community at Paramount, while protecting the legacy that viewers across the globe know and love.
With a 15-year history of partnering on projects of record-making success, the Skydance-Paramount combination unites key intellectual property and enhances Paramount’s exposure in cutting-edge and next-generation digital businesses. Skydance’s exceptional pool of in-house creative animation talent, led by pioneer John Lasseter, will expand Paramount’s animation capabilities as well as consumer products opportunities over the long-term.
The Ropes & Gray team included mergers & acquisitions partners Jackie Cohen and Emily Oldshue, litigation & enforcement partners Peter Welsh and Marty Crisp, tax partner Scott Pinarchick, benefits partner Renata Ferrari, finance partner Byung Choi, and antitrust partners Michael McFalls and Ruchit Patel and intellectual property partner Erica Han, and associates Debbie Wang, Ani-Rae Lovell, Rebecca Liu, Chandler Burnham, Kasey Hughes, Chris Shorey, Kelly Petrillo, Alex Schubert and Kendall Spencer.
Read More