Nobody knows what Paramount chair Shari Redstone wants to do with hard-to-sell conglomerate
NY Post
Remember Byron Allen?
You know, the voluble media executive who got Paramount shareholders all juiced up when he said he wanted to buy the company from Shari Redstone for a cool $30 billion.
Sounded like a great deal since Paramount’s market cap at just below $10 billion reflects the melting ice cube of much of its programming.
Well, he’s nowhere to be found these days in the merger talks because no one seems to think he has the money except Byron himself.
Then there was that convoluted thing offered by David Ellison, the rich-kid son of tech billionaire Larry Ellison.
He runs a decent movie studio named Skydance and wants to write Shari a check for just $2 billion for her controlling stake, which in a normal world wouldn’t make sense but this is major media and weirdness rules.