Tag

Gerry Cardinale

All articles tagged with #gerry cardinale

media-and-politics18 days ago•15 min saved

Cardinale Dismisses Ellison-Trump 'Coziness' Amid Skydance Merger Close

Paramount board member Gerry Cardinale has publicly rejected claims that CEO David Ellison maintains a 'cozy' relationship with President Donald Trump, arguing that such interactions are standard business conduct for a pro-business administration. This statement comes as Ellison prepares to finalize the merger of Paramount and Warner Bros. Discovery, which will officially become Skydance. While critics point to Ellison’s acquisition of The Free Press, the installation of Bari Weiss at CBS News, and high-profile events at Mar-a-Lago as evidence of political alignment, Cardinale insists these are routine corporate engagements. The merger, valued at approximately $110 billion, is expected to close next week, with Ellison and Ynon Kreiz set to serve as co-CEOs of the combined entity.

via Deadline|

#david-ellison #gerry-cardinale #media-and-politics

business19 days ago•15 min saved

Paramount-WBD Merger Set to Close Oct. 6; Cardinale Dismisses Layoff Fears

The $110 billion merger between Paramount Skydance and Warner Bros. Discovery is scheduled to close on October 6, 2026, following the approval of an antitrust settlement by U.S. District Judge Araceli Martínez-Olguín. While the deal promises $6 billion in cost savings, Paramount board member Gerry Cardinale insists these reductions will primarily stem from non-labor efficiencies, such as unifying technology stacks and optimizing real estate, rather than mass layoffs. The combined entity, which will be named Skydance, will be co-led by David Ellison and newly appointed co-CEO Ynon Kreiz. The settlement includes a $300 million annual U.S. film production investment and a five-year ban on selling studio lots, but critics argue it lacks structural divestitures and fails to adequately protect workers or ensure editorial independence.

via Deadline|

#antitrust-settlement #business #david-ellison

business1 year ago•7 min saved

Paramount's Strategic Shift: From Merger Woes to Tech Ambitions

RedBird Capital's Gerry Cardinale played a key role in the $8.4 billion merger of Paramount and Skydance, marking a significant shift in Hollywood with private equity's increasing influence. Cardinale, an outsider with a focus on IP monetization and cost efficiency, aims to leverage Paramount's extensive IP assets to adapt to the streaming era, while navigating industry challenges such as declining linear TV and high debt.

via Fortune|

#business #entertainment #gerry-cardinale

businessfinance2 years ago•1 min saved

"Paramount and Skydance Finalize $8bn Merger Deal"

Gerry Cardinale's RedBird Capital is involved in an $8 billion deal with Skydance Media to acquire a majority stake in Paramount, contributing $1.5 billion to reduce Paramount's debt. This move is part of RedBird's broader strategy to expand its influence in sports, media, and financial services.

via Sempre Milan|

#acquisition #businessfinance #gerry-cardinale