Mediaboss Marketing

The National Amusements nightmare continued apace this week with more bad news for Shari Redstone. Earlier this month, we learned that Shari had decided to all but ignore Apollos $26 billion bid for all of Paramount Global in favor of David Ellison, KKR, and RedBird Capitals cockamamie bid to buy National Amusements Inc., the Redstone family holding company that controls Paramount, for more than $2 billiona premium of at least 160 percent above the $760 million that her economic stake is valued at these daysand then to have Paramount buy Ellisons Hollywood company, Skydance, for $5 billion. Thats crazy.

To evaluate the Ellison madness, the Paramount board, which Shari controls, first appointed a special committee, which then hired Cravath, the law firm, and Centerview Partners, the excellent boutique advisory firm run by my longtime friend Blair Effron. The special committee then handed Ellison and his partners a 30-day exclusive period to see if a definitive agreement could be worked out, while appearing to let the Apollo offer fade to black. But this decision seemed motivated purely by Sharis self-interestas if she didnt give a shit about her aggrieved shareholders and simply wanted a clean break from all of her business woes not only Paramounts decline but also her N.A.I. burden.

The rest is here:
The Paramount Sale Vulcan Chess Theory - Puck

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