Key Points:
- Paramount Global’s Possible New Owners: RedBird Capital and Skydance might buy a big part of Paramount Global.
- XFL-USFL Football Merger: RedBird is a major player in the mergered XFL-USFL
- Change in TV Channels: With NBC out, the merged league looks to FOX, ABC, and ESPN for game broadcasts. Could CBS get added down the road.
There’s a lot of talk about a big move in the media world: RedBird Capital and Skydance, led by David Ellison, might buy a large part of Paramount Global. This deal could happen through National Amusements, which owns most of Paramount’s important shares.
Paramount Global, not saying much about this, owns CBS and other big media parts. RedBird and Skydance haven’t commented either, but there’s a saying, “where there’s smoke, there’s fire,” hinting this could be true.
XFL-USFL Merger and Broadcasting
An exciting part of this potential deal is how it could affect the newly merged XFL-USFL football league. RedBird Capital is a big player in this league, and Paramount Global, owning CBS, could play a big part in deciding where we watch these football games. There are talks about broadcasting games on big networks like FOX, ABC, and ESPN, offering fans different ways to watch.
Recently, NBC said it will no longer broadcasting the league, mainly because of scheduling issues with golf. This change opens new chances for the league to plan where their games will be shown, especially if RedBird and Skydance take over Paramount Global.
CBS Sports Network is also part of Paramount Global, they broadcasted CFL games in 2023 and the IFL National Championship Game.
Why This Matters
Paramount Global is a big name in media, owning various TV channels and other media outlets. They’ve been changing things up, selling parts of their business like Noggin, BET Media Group, Bellator to the Professional Fighters League, and Simon & Schuster.
The company is worth about $9.9 billion, but it’s facing challenges, especially in streaming and traditional TV. Their ad revenue has dropped, and rising interest rates make big deals like this one more tricky. But this could be a good time for Paramount to think about new owners.
RedBird Capital, run by Gerry Cardinale, a former big-shot at Goldman Sachs, is spreading its wings in media and sports. They helped start Ben Affleck and Matt Damon’s Artists Equity production company and worked with David Ellison’s Skydance on the hit movie “Top Gun: Maverick.”
Paramount’s shares jumped more than 12% with this news. The company has a big debt but remains an important focus for investors. They’re even thinking about bundling their streaming service, Paramount+, with Apple TV+.
As things shift in the media and sports world, everyone’s watching to see how a takeover by RedBird Capital and Skydance could change things, especially for sports fans following the XFL-USFL football league.
