The investment comes from BDT & MSD Capital Partners, a merchant bank with a history of helping founders and owners of businesses, as well as investing "on behalf of Dell Technologies Founder Michael Dell, his family and other like-minded investors."
Byron Trott, co-CEO and chairman of BDT & MSD Partners, had this to say of the proposed investment set to close next week, "Paramount has an incredible legacy, underpinned by its industry-leading content and media assets. We believe strongly in the value creation opportunities ahead for the company and its shareholders.”
Shari Redstone, of the Redstone family that are the majority voting shareholders of Paramount Global, also released a statement saying, "Paramount has the best assets in the media industry, with an incredible content library and IP spanning all genres and demographics, as well as the #1 broadcast network, the leading free ad-supported streaming television service and the fastest-growing pay streaming platform in the U.S."
Redstone concluded, stating, "National Amusements Inc. has conviction in Paramount’s strategy and execution, and we remain committed to supporting Paramount as it takes the necessary steps to build on its success and capitalize on the strategic opportunities in our industry.”
Cheers to the future!
(Sources: The Hollywood Reporter, Bdtmsd.com)
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Jordan Bushert
Entertainment Journalist
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