Paramount And Skydance Media Agree To Terms Of A Merger, Awaiting Approval

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Paramount and Skydance have agreed to terms of a merger. A deal could be announced in the coming days, he said.

A Paramount special committee and the buying consortium — David Ellison's Skydance, backed by private equity firms RedBird Capital and KKR — agreed to the terms. The deal is awaiting signoff from Paramount's controlling shareholder, Shari Redstone, who owns National Amusements, which owns 77% of class A Paramount shares, Faber said Monday.


The agreement terms come after weeks of discussion and a recent competing offer from Apollo Global Management and Sony Pictures.

"We received the financial terms of the proposed Paramount/Skydance transaction over the weekend and we are reviewing them," said a National Amusements spokesperson.

The deal currently calls for Redstone to receive $2 billion for National Amusements, Faber reported Monday. Skydance would buy out nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion, leaving the holders with equity in the new company.

Skydance and RedBird would also contribute $1.5 billion in cash to Paramount's balance sheet to help reduce debt.

Following the deal's close, Skydance and RedBird would own two-thirds of Paramount, and the class B shareholders would own the remaining third of the company, Faber reported. The negotiated terms were reported earlier by The Wall Street Journal.


The deal will not require a vote from the shareholders, which was part of the negotiations, Faber reported. Paramount's annual shareholder meeting will take place on Tuesday.

The deal is valued at $8 billion, an increase from the $5 billion offer on the table earlier. Under those earlier terms, Redstone would have received less than $2 billion for her stake, and the class B shareholders would have been bought out at a nearly 30% premium at $11 a share.

In early May, Apollo and Sony formally expressed interest in acquiring Paramount for about $26 billion. However, Redstone has favored a deal that would keep Paramount together, and Apollo and Sony planned to break up the company.

In addition to the twists and turns of the negotiations with buyers, Paramount's C-suite has also undergone a shakeup in recent months.

Bob Bakish stepped down as CEO in late April and was replaced by what the company calls the "Office of the CEO." Paramount is now led by three executives: George Cheeks, CBS president and CEO; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, the head of Paramount Pictures and Nickelodeon.

Hi Hi Puffy Amiyumi | Pilot | Cartoon Network

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After Sam Register (the creator) pitched the idea of Hi Hi Puffy AmiYumi having their own cartoon series on Cartoon Network, the animation studio Renegade Animation created a pitch pilot, in the hopes of swaying Cartoon Network to green-light the show's production.

The pilot was sent to Cartoon Network and they accepted it and it was to air in late 2003, but for unknown reasons, the pilot was reworked and later premiered on November 19th, 2004. The series premiere was successful and was even at the time one of the highest-rated shows to premiere on Cartoon Network.

Elderly People Seen In Titanic Film Were Based On A Real Life Couple

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Not only did the film - starring none other than Kate Winslet and Leonardo DiCaprio - recall the tragic sinking of the RMS Titanic in 1912 and deaths of over 1,500 passengers, but the movie also centred itself on the heart-wrenching love story between Rose and Jack too.

However, there's wasn't the only romance to board the ship.

The true story of another couple has since been revealed.

As well as featuring a scene where Jack paints Rose 'like one of his French girls' and a steamy rendezvous in the back of a car, another couple also makes a cut, spooning one another in bed as the water rushes onto the ship - ultimately deciding to die in one another's arms.

While the scene isn't entirely factually correct - the real-life couple actually deciding to hunker down for a hug on the deck opposed to back in their room - the shot is based on a real couple named Isidor and Ida Straus.

Married in 1871, the Jewish couple had seven children together. Isidor was 67 when he boarded the Titanic and Ida the age of 63.

After the Titanic was struck by an iceberg on that fateful day in 1912, the lives of women and children were prioritised on the lifeboats rescuing passengers from the sinking ship.

However, due to the Straus' status - Isidor a co-owner of Macy's Department Store located in New York - his chance to escape followed shortly after.

Despite being offered a seat due to his status and wealth, Isidor turned the opportunity down, stating: "I will not go before the other men."

Ida resolved to not leave without her husband and according to Historical Honey, said: "We have been living together for many years. Where you go, I go."

Isidor's body was recovered after the ship sunk, however, unfortunately Ida's has never been found.

However, their united love lives on in one of the scenes from the 1997 release - not only portrayed as the couple spooning on the bed, but the design for Rose's cabin room onboard the ship inspired by the Straus' actual room which was the best suite onboard the ship.

Skydance Media Plans To Merge Their Operations With Paramount Global, Could This Have An Everlasting Affect On Nickelodeon And MTV?

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As some readers are aware, Shari Redstone is looking to sell her shares in Paramount Global home to MTV and Nickelodeon. Currently, Skydance Media and Sony Pictures Television in a joint bid with Apollo Global Management are battling it out.

The Sony-Apollo deal has garnered a lot of media scrutiny as insiders report a possible dismemberment of their linear portfolio. With Paramount Studios being merged onto Sony Pictures Television current offering and studio lots auctioned off.

Skydance Media proposal is said to be favorable because unlike Sony-Apollo they wouldn't go through any regulatory hurdles for foreign ownership. Their plan would be to merge their operations with Paramount Global of course the finer details haven't been outlined. 

From what several sources uncovered, Skydance Media is planning to merge/bundle Paramount+ with another streaming service. It is no secret that Netflix and Disney+ have been edging out the competition so it's likely they're looking after Paramount’s interests. 

Skydance Media has worked with Paramount Global on several projects such as Mission: Impossible, Transformers, Top Gun, Jack Reacher and Star Trek.

If anything, we presume a possible merger between Skydance Media and Paramount Global could lead to a reduction of content or at least for its linear portfolio. As mentioned, Skydance wants to merge Paramount+ with another streaming service. 

On top of that they've got several projects in development and with Paramount Pictures they'll expand on that. Prior to acquisition talks, Netflix had licensed various content from Nickelodeon like Saving Bikini Bottoms: The Sandy Cheeks Movie and Fairly OddParents: A New Wish.

Although Sony-Apollo would lead to the purging of TV channels outside of regulatory confinement. These channels could lose credibility under Skydance Media and serve as second fiddle to the endeavors licensed to Netflix or even Apple TV+.

Warner Bros. Discovery Looking To Bundle Max With Other Streaming Services In Parts Of Europe And Africa

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Following the first phase of the recent WBD’s European roll out of Max, Leah Hooper Rosa, EVP of EMEA Streaming, the company’s goal is to operate across all major markets, including the UK.

She said she expects to see more conversations in the future about launching Max in the UK. WBD previously announced it plans to launch service Max in the country by 2026. The media and entertainment powerhouse currently has a long-running licensing partnership with UK pay TV operator Sky, for its HBO content which runs until the end of 2025.

Hooper Rosa, said, “We’re in the game now of we want to be a top three global streaming service. That’s our ambition.”

“We’re on a multi-year journey in terms of our Max roll out across Europe. We’re actively in conversations. Our CEO and Gerhard Zeiler (president of WBD International)  have also shared with partners and working out what that would look like,” she added.

Referring to the company’s recently partnership with Disney to offer a bundle including Disney+, Hulu and Max in the US, Hooper Rosa said – “it’s natural that we see those types of things move into Europe”.

The streamer has launched across Europe in partnership with telcos and pay TV provider in select regions.

“We haven’t seen too many types of those relationships yet in Europe with other streamers doing streaming bundling. But I think there is an opportunity for that in the future and we’ll see how consumers react to that,” she added.

Max debuted in Iberia, the Nordic markets and parts of central and eastern Europe earlier this month, as part of a staggered roll-out for simplicity, said the WBD exec. Further launches are planned for France, Poland, the Netherland and Belgium June.

Currently the streamer is available in 20 countries, including Denmark, Finland, Norway, Sweden, Spain, Portugal, Andorra, Bosnia & Herzegovnia, Bulgaria, Croatia, Czech Republic, Hungary, Moldova, Montenegro, North Macedonia, Romania, Serbia, Slovakia and Slovenia.

At present, WBD will only introduce tis Max’s ad-supported subscription plan in Norway, Sweden, Denmark, Finland, Netherlands, Romania, Poland, France and Belgium.

For their strategy in Europe she explained, “its really a combination of the maturity of the ad market in those regions and the of maturity of our business because we need to be able to sell ads or to be able to have the capability to work with a partner.”

Max also offers a sports add-on, providing coverage of major international and European sports including Australian Open, Roland-Garros, The Championships, Wimbledon, US Open, Giro d’Italia, La Vuelta a España, Tour de France, and every major winter sports World Championship and World Cup events.

As part of the move, Hooper Rosa said it will be scaling back its content across its other streaming services including discovery+ where Max is present, which was the streaming home for WBD’s sports content across the company’s European markets.

“Max is our flagship streaming service,” she said. “So what we’re doing now is a  wind down across Europe of our other streaming services. It’s really on a market by market basis of how we’re managing that transition.”

Warner Bros. Discovery Hinting At More Mergers And Acquisitions Through Interviews

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Warner Bros. Discovery, just over two years after closing the merger of WarnerMedia and Discovery, will be “opportunistic” about seeking M&A deals in the next two or three years, president and CEO David Zaslav said.

“I think some companies will be for sale,” Zaslav said, speaking Thursday at the Bernstein 40th Annual Strategic Decisions Conference in New York. “We can be opportunistic but we’re going to be very disciplined.”

“I think there’s likely going to be some consolidation. There are a lot of players. There are a lot of players that are losing a lot of money,” Zaslav said. “One of the reasons why we really fought to drive our free cash flow and pay down our debt is to be in a position — as we roll out globally, as we fight to build our business — that we’re a healthy company.”

Speaking of losing money, Warner Bros. Discovery reported full-year 2023 revenue of $41.3 billion, down 4% on a pro-forma basis, and a net loss of $3.13 billion (versus a net loss of $5.36 billion on a pro-forma basis in 2022). The media conglomerate during the first quarter of 2024 repaid $1.1 billion of debt to end the quarter with $43.2 billion of gross debt.

“Over the next two to three years, I expect that there’s going to be some opportunities,” Zaslav said. “There’ll be some players that want to get out of the business, that will look to consolidate their streaming businesses with others. And so I think we will look to be opportunistic during that time,” he said, adding that he believes there will be 4-5 dominant global streaming platforms as things shake out.

“The global nature of this business is going to require a number of players to decide whether they want to go it alone,” according to Zaslav. He said “consolidation can happen in a lot of different ways,” including through bundling — such as WBD and Disney’s forthcoming Disney+/Hulu/Max bundle — and he also suggested “over the long term some of the smaller players in streaming will end up wanting to be part of a bigger global organization.”

Regarding Paramount Global — which has been in talks about a potential sale to Skydance Media and has been reviewing a joint bid from Sony Pictures-Apollo — Zaslav didn’t address WBD’s recent interest in exploring a merger with the company, but he commented in a lightning-round Q&A about Paramount, “Great storytelling heritage.” Zaslav met briefly late last year with Paramount’s then-CEO Bob Bakish to size up a potential merger but those talks didn’t continue.

Skydance Sweetens Offer For Paramount Global

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David Ellison’s Skydance has sweetened its offer to acquire Paramount Global, Deadline has learned, in an attempt to make it more palatable to the company’s Class B stockholders after they trashed the outlines of a previous deal and threatened to sue.

Ellison’s original offer was to buy out Par’s controlling shareholder Shari Redstone for a significant premium, resulting in a windfall for her, and then merge Skydance into Paramount keeping the combined company public. Stockholders wanted to be bought out at a premium as well.

Skydance, backed by Oracle co-founder Larry Ellison and Gerry Cardinale’s RedBird Capital, sweetened the offer once late last month — offering to buy out a certain number of Class A voting shares from stockholders other than Redstone — as an exclusive monthlong negotiating period with Par ended. But it wasn’t enough to woo holders of the Class B non-voting stock, who are the majority of shareholders.

As the Skydance exclusive talks ended with no deal, Sony jumped in for a $26 billion bid with private equity giant Apollo, that was later downsized in some fashion as Sony signed a non-disclosure agreement with with Par about two weeks ago that would let SPE access Par’s books and talks to start in earnest. Those conversations were not exclusive, however, and Skydance remained very much in the mix, continuing to talk with Par as well.

The issue for Sony is not shareholders but regulators. Foreign ownership rules likely prevent Sony from owning CBS broadcast assets, which likely why its offer became more targeted. But it might not be a cakewalk to merge two major studios either. Skydance is safer, more certain on the regulatory front and wouldn’t require a prolonged review amid possible opposition that can drag a deal out and sometimes end without one.

All offers are being evaluated by a special committee of Paramount’s board of directors. Three on that committee — Dawn Ostroff, Nicole Seligman and Frederick Terrell — will formally exit the board as of the company’s annual shareholder meeting next Tuesday. Another board memeber, Robert Kieger, will also be leaving. Par announced the upcoming departures — which will leave it with a greatly downsized board — earlier this year to widespread speculation on what it meant for a deal.

Par hasn’t said whether the three had continued to serve actively on the pared down committee after their pending departures were announced or what the committee composition is now, or will be after the meeting where shareholders vote for directors among other issues on the agenda. The committee in any case is just there for a recommendation, with Redstone the decider and, some feel, a wildcard.

Says one source with knowledge of the dealings, “At the end of the day, whatever the committee recommends to Shari, it’s up to her to decide. A deal’s not a deal without her.”

Hollywood insiders favor a Skydance deal over a Sony/Apollo takeover of Paramount Global. The reduction of a major studio strikes fear throughout the exhibition sector that fewer event films would exist in the long run, the sector currently weathering the aftermath of Covid, two strikes and a Disney-Fox merger which has reduced the supply of movies at multiplexes.

Cancelled Movies: Ghostbusters Film Starring Chris Rock, Chris Farley And Ben Stiller Was Reportedly In Development

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Everytime there's rumors of a new "Ghostbusters" film, fans always draw up their dream cast line-up. Prior to the release of Paul Feig's 2016 reboot, fans were clamoring for "Ghostbusters" team that included comedy's top stars of the time (particularly from the Judd Apatow-verse) like Seth Rogen, Jonah Hill, Craig Robinson, and Paul Rudd, among others. While we know that film never came to be, we did get a stacked cast of top comedians including Melissa McCarthy, Kristen Wiig, Kate McKinnon, and Leslie Jones for the 2016 version of the movie, and Paul Rudd did end up in the cast of 2021's "Ghostbusters: Afterlife."

In the '90s, when a script called "Ghostbusters 3: Hellbent" was going around Hollywood, franchise co-creator and Egon Spengler himself, Harold Ramis, had a dream cast in mind for who he thought would take up the mantle for a new generation in that decade. According to an interview with Ramis on Morewhatnot, the late filmmaker and funnyman revealed he would have cast Chris Farley, Chris Rock, and Ben Stiller in a "Ghostbusters" for a '90s film. 

It seemed as if Chris Farley had been a part of the new lineup as Ray Stantz's nephew ever since Dan Aykroyd worked with him on "Tommy Boy." Both Chris Rock and Will Smith were talked about at one time or another through the long development of "Ghostbusters 3" for a Winston Zeddemore-type of role. Ben Stiller was a name that came up all the way through 2005 when the script was still being talked about.

The Ghostbusters Go to Hell concept could never get to the production stage

The sequel Chris Farley, Chris Rock, and Ben Stiller could have starred in would have been called "Ghostbusters 3: Hellbent" and was essentially a concept that featured the Ghostbusters going to hell, fighting the devil, and training a new generation to take over their supernatural business. 

Ghostbuster Harold Ramis talked to Morewhatnot about how he envisioned hell in the script. Ramis said, "My concept there was that Hell is a simultaneous reality, it's slightly out of phase with our reality. It's like a strobe, when our reality is on, hell kind of blinks off." He explained (sort of) how the team ends up in hell saying, "So what the Ghostbusters have to do is kind of a hitch step, you know when you try to get in step with somebody. The Ghostbusters had to technically skip one beat and then they're in Hell." 

The '90s concept was thrown out after nearly two decades of being stuck in development hell. Ramis directed a Judd Apatow-produced comedy called "Year One" in 2009 which starred Michael Cera and Jack Black, who of course also came up as names for Next-Gen Ghostbusters, from "The Office" writers Gene Stupnitsky and Lee Eisenberg. Ramis brought on the writing duo to work on a new script for "Ghostbusters 3" Ramis said that he was interested in a new cast for the movie saying that he wanted to, "Bring a fresh generational spin to it. We were voices for our generation, popular voices, but this generation sounds different." "Ghostbusters 3" never ended up materializing, but fans now have "Ghostbusters: Afterlife 2" to look forward to later in 2023.

Credits: Looper

"The Cursed Atuk": A Script That Claimed The Lives Of 6 Actors

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I want to dive into something a little different today but something super spooky. Outside of the horror genre, I love everything paranormal. I’m a big believer in ghosts and have had too many experiences to count. So I thought it would be fun to bring a little paranormal element to Horror Bound. Why? Because it’s my site and I feel like it. That’s the benefit of being the owner….ya’ll have to read my paranormal ramblings.

But I thought this would be kind of fun because it DOES involve movies. One in particular. And while it’s not a horror movie, it’s a movie that kills people. So it’s kind of like a real life horror movie…

The story is about an Inuit poet from Baffin Island who gets sent to Toronto. A total fish out of water story. But in the movie version, he lives in Alaska and ends up in New York City. A woman visits his town in Alaska, she’s a documentarian. When they leave, he stows away on their plane. When he arrives, he saves a young man who is the son of a powerful real estate mogul and hi-jinks ensue. 

The film adaptation was requested by Norman Jewison (he is a Canadian director and producer who helped start up the CBC, and did a bunch of other wonderful things. He seriously has lived a crazy productive life. Go check him out) in the early 1970’s. Todd Carol wrote the adaptation, and Jewison planned to film it in Canada. 

John Belushi was the first actor to be attached to the film. He was offered the lead role in 1982 and showed a lot of interest in the script. But a few months later, on March 5th, Belushi was tragically found dead in his hotel room at the Chateau Marmont by his trainer Bill Wallace. He was only 33 years old. The cause of death was determined to be drug related, most likely a speedball. His death was investigated by a forensic pathologist and the findings were disputed. 

Two months later, Catherine Evelyn Smith admitted she had been with Belushi on the night of his death and had given him the fatal dosage. The case was reopened and she was arrested and charged with first-degree murder. 

In 1986, after losing their lead, the script went back on the market and this time Sam Kinison got involved. He would play the lead role of Atuk. In 1988 production began and managed 8 days of filming before Kinison halted the production. He didn’t like the way it had turned out and began to rewrite the script. Kinison said that he was given creative control. Apparently he became difficult when the studio got involved. A lawsuit began.

The movie was put on hold again until 1992 when production began to set up again. Unfortunately, during these negotiations, Kinison died.

It was Friday, April 10th, 1992. He was only 38. His vehicle was struck head-on in California by a pickup truck, driven by a 17 year old who was drunk. Kinison was alive after the crash, his best friend Carl LaBove had been driving behind him at the time of the accident. His brother was there as well and they could see no visible injuries. But Kinison began to talk to himself, repeating “I don’t want to die.” It then appeared as if he were talking to someone who wasn’t there, “But why?” “Okay, okay…” and then he lost consciousness. He could not be resuscitated and he died at the scene from internal injuries. His wife who was also in the car survived with a mild concussion. 

The production team refused to give up, they really believed this script was something special. And so, in 1994, they approached John Candy and offered him the role. Candy was thrilled and began to study the script. In March of that year he also died. Candy was working in Mexico and at some point in the night of March 4th, he died of a heart attack. He was 43 years old. 

Candy had reportedly asked his close friend, Michael O’Donoghue, to also read the script and perhaps join the cast. In November of that same year, he also passed away. He had a history of chronic migraines and died from a cerebral hemorrhage at 54 years old. 

1997 rolls around and the film surfaces again. Atuk was offered to Chris Farley. Farley was aware that his idol Belushi was once offered the part and so he was intrigued, and expressed an interest. But, much like his idol, Farley also died young, and the same age of 33. A few months after reading the script, on December 18th, Farley was found dead by his younger brother in his apartment. He died of a drug overdose. A speedball. Just like Belushi.

Farley, much like Candy, also introduced his friend Phil Hartman to the script. 5 months after the tragic death of Farley, Hartman’s wife murdered Phil in cold blood. His wife, Brynn Hartman, got into a heated argument with Phil after he threatened to leave her if she started using drugs again. At 3am Brynn entered the bedroom and around 3am shot Phil twice in the head and once in his side. She drove to a friends house and confessed to the murder, the friend didn’t believe her so the two of them drove back to the house. The friend saw the body and called the police. As the police arrived and escorted the children out of the home, Brynn locked herself in the bedroom and shot herself, committing suicide. 

And so, Atuk sits unmade and untouched for years. Some believe in the curse, some don’t. I’m not sure why no one is questioning the fact that a bunch of white men were being cast as an Inuit...but that’s a whole other side of Hollywood.

Who knows if the script will ever come out of the dark and attempt to be made again? But I really hope it doesn’t. That’s a long history of bad luck (and whitewashing) that I wouldn’t want to tamper with.

Credits: Horrorbound