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A new offer and an annual shareholder meeting refreshed the ongoing saga of the potential sale of Paramount Global.Paramount is one of the five major Hollywood studios, employing more than 20,000 people. Its health and vitality are important to the overall entertainment ecosystem in Los Angeles.
Now Skydance, which is run by David Ellison — son of Larry Ellison, one of the world’s richest men — is reportedly offering to buy a majority stake in Paramount.Paramount Global’s three-person Office of the CEO appeared at the company’s annual shareholder meeting on June 4 to answer questions and present their vision. They discussed how they were cutting costs at a rate that would total $500 million on an annual basis, with more planned.
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