The CEO of Paramount on Monday spoke for the first time about the $110 billion mega-deal, which will see the smaller company, backed by tens of billions from his father Larry Ellison and tens of billions in debt from a consortium of lenders, swallow the larger one.
The result will be a behemoth, with two major film studios (Paramount and Warner Bros.) a jumble of TV studios, two major streaming services in HBO Max and Paramount+, and a stable of TV channels that will include CBS, TNT, celebrity.land, MTV, Nickelodeon, HGTV and many more that will make it a formidable player in the declining but lucrative pay-tv business. It will be a major sports player, and will combine two TV news giants in celebrity.land and CBS.
Ellison outlined the deal as being…
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