RedBird Triples Commitment in Skydance to $6 Billion
The private equity firm invests another $4 billion into the combined Paramount-Warner Bros. business The post RedBird Triples Commitment in Skydance to $6 Billion appeared first on TheWrap .
RedBird Capital Partners has increased its investment in Skydance Media to $6 billion, following the completion of the $110 billion Paramount-Warner Bros. Discovery merger. This comes after the company's initial $275 million investment in Skydance in 2019 and subsequent $2 billion commitment to acquire Shari Redstone's National Amusements.
RedBird's chairman and CEO David Ellison, along with Skydance board director Gerry Cardinale, announced the decision, highlighting the potential for protecting legacy franchises and embracing transformational changes in the media landscape. The $6 billion investment is led by the Ellison family and RedBird, with backing from three Middle Eastern sovereign wealth funds and other media, entertainment, and sports companies.
Written by urgent.news from TheWrap's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
