Ellison Family Invests Approximately $17 Billion in Paramount Skydance's Acquisition of Warner Bros

Deep News10-08 08:23

Public filings reveal that David Ellison and his family invested approximately $17 billion to complete Paramount Skydance's acquisition of Warner Bros. Discovery.

According to the documents, David Ellison, son of Oracle co-founder Larry Ellison, along with his family, subscribed to roughly 1.4 billion shares in a stock offering.

The company stated that the subscription price for investors was $12 per share.

The newly merged entity has been renamed Skydance Corp. A spokesperson for the company declined to comment.

Since the merger was completed on Tuesday, Skydance's stock price has fallen by approximately 9%.

The $110 billion acquisition deal involves $47 billion in equity investment.

Three Middle Eastern sovereign wealth funds had originally planned to contribute $24 billion, with RedBird Capital Partners investing $4 billion and South Korean retailer Shinsegae Group contributing $1 billion.

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