All roads are leading Network Ten and its parent company, Paramount Global, towards new ownership and who the successful party might be just got a little clearer this week.
Paramount and Skydance already have an established working relationship. Founded by Ellison in his early 20s in 2006, Skydance has co-produced several major films with Paramount Pictures, including the Mission Impossible series, True Grit, Top Gun Maverick,All change: Shari Redstone’s potential exit reflects how streaming has changed the game for the Hollywood elite.While the Redstone family controls 77 per cent of Paramount’s voting stock, it owns only around 10 per cent of the shares.
When the exclusive negotiating period was announced, Paramount’s share price rose 15 per cent, but it has since soured, dropping back 24 per cent. The company is still adjusting to recent changes, including a reorganisation of reporting lines globally. One of its two Australian bossesParamount announced a significant round of layoffs in February. At the time, global chief Bakish said it would focus “more heavily on our Hollywood franchises, films and series, which have mass global appeal.”