Entertainment. Entertainment. Which obviously also goes hand in hand with sport. Especially in the entrepreneurial vision of Gerry Cardinale, a businessman accustomed to looking well beyond the confines of just a sporting event. The latest big deal handled by RedBird’s number one goes in this direction, which allowed Skydance Media – an American production company – to reach an agreement with Paramount for the acquisition of its majority shares, quantifiable at around two thirds .
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The merger is awaiting approval from Paramount’s controlling shareholder, Shari Redstone, but a deal has been struck anyway. In terms of numbers, Skydance and RedBird would contribute $1.5 billion to Paramount’s balance sheet, to help reduce debt. The entire deal is valued at 8 billion, 3 more than the previous offer. It should be remembered that Paramount has held the Serie A rights for the USA for the last three years, just as the partnership with Inter, of which it had been the shirt sponsor, expires at the end of the month. The acquisition of Paramount is a consortium made up of Skydance and the private equity firms RedBird and KKR. Cardinale, therefore, continues with the financial and strategic expansion linked to his fund, with imaginable future repercussions also on the Rossoneri world.
