Skydance Media Exclusive Talks With Paramount Global Conclude As Apollo And Sony Make Bid To Acquire The Company

Skydance Media is prepared to walk away from its offer for Paramount Global unless it receives a firm commitment from controlling shareholder Shari Redstone, following the latest offer from Apollo Global Management and Sony Pictures, according to a person familiar with the matter.

The exclusivity window for discussions between David Ellison's Skydance, backed by private equity firms RedBird Capital and KKR, and Paramount ends Friday and won't be extended, people familiar with the matter mentioned Paramount shares rose following the report.

The consortium has been waiting for word from Paramount's special committee on whether the panel will recommend its bid to acquire the company to Redstone. Now, with Apollo and Sony formally expressing interest in acquiring the company for about $26 billion, the Skydance group is looking for Redstone to reaffirm her commitment to the deal.

The Skydance consortium is not keen to hang around to be a stalking horse offer for Apollo and Sony, one of the people said. Still, depending on what Redstone says, Ellison may be willing to work with her, a second person said.

Spokespeople for Skydance, Redstone's National Amusements and Paramount's special committee declined to comment on Friday.

Apollo and Sony made their latest offer Thursday, CNBC previously reported. The special committee is currently considering the bid, the people said.

As part of Skydance's latest deal on the table, Redstone may take less than $2 billion for her controlling stake in Paramount, which is lower than Skydance's initial offer. The consortium is contributing additional capital to pay common, Class B shareholders at a nearly 30% premium to the undisturbed trading price of about $11 per share. In total, Redstone and Skydance would contribute $3 billion, with the vast majority going to Class B shareholders, according to people familiar with the matter.

Skydance's valuation as part of the deal remains around $5 billion, the people said. It's unclear if the Apollo-Sony offer gives Redstone the same premium.

Previously, Redstone rejected an offer by Apollo in favor of exclusive talks with Skydance. Redstone has preferred a deal that would keep Paramount together, as Skydance's offer would. A private equity firm is likely to break up the company.

Development Alert: Danilo Carrera And Isabella Castillo Will Be Protagonists Of Telemundo's Upcoming Telenovela Thirst For Vengeance (Sed De Venganza)

Telemundo Studios announced its next original production, Sed de Venganza, which will begin filming at the state-of-the-art Telemundo Center studios in Miami this summer. This new drama follows the life of Fernanda Ríos, a beautiful and resourceful woman determined to escape the terrible abuse she experienced in her childhood. 

Thirst for Vengeance is a series written by Eric Vonn, directed by Camilo Vega and Miguel Varoni, under the executive production of Ximena Cantuarias and Rafael Uriostegui. Danilo Carrera (Dangerous Liaisons) and Isabella Castillo (The Lord of the Skies, Malverde: The Patron Saint) will lead an all-star cast for this fascinating story of revenge, love and deception. 

Sed de Venganza marks the first leading role for both actors in a Telemundo series. 

Ronald Day, President of Entertainment and Chief Content Officer of Telemundo, said they are focused on creating high-quality Spanish-language content made by Hispanics, for Hispanics. "The stellar cast, led by talented actors Danilo and Isabella, along with our exceptional teams behind the cameras, will undoubtedly bring this series to life in true Telemundo style." 

Thirst for Vengeance, an unforgettable new drama, follows the life of Fernanda Ríos (played by Castillo), a beautiful and resourceful woman determined to escape the terrible abuse she experienced in her childhood. However, her plans go awry when deception and blackmail lead her into the dark world of Eugenio Beltrán. A spiteful and cruel businessman who has sworn revenge on the Del Pino family, it is Fernanda who must execute Eugenio's nefarious plans. To complicate things even more, Fernanda finds love with Francisco (played by Carrera), a young man whose life she destroyed in the past and who, when she confirms that she is the culprit of everything, will dedicate herself to satisfying her infinite " Thirst for revenge. 

New Series Alert: Uthandolwani Coming Soon To Zee Zonke

After launching Umakoti Oyintandokazi last month which proved to be a popular addition with our readers. The Zulu dubbed broadcaster Zee Zonke is set to rollout another TV series onto viewer's screens in the coming weeks titled Uthandolwani (Dildariyan).

Uthandolwani followed a story of rich man who generally hates women bumped into a girl who is extremely different in nature and instantly expresses his discomfort towards her. Navdeesh Arora and Priya Arora starred in leading roles.

It debuted on Zee Punjabi from 14 November 2022 to 6 October 2023 with 235 half hour episodes produced. Based on the Telegu drama series Varudhini Parinayam, it served as one of the eight remakes to have been filmed from Zee Telegu series.

Zee Punjabi is well-known for the series Geet Dholi (also known as Dholi Beats) on Zee World. Similar to Uthandolwani, even Dholi Beats is a remake of another program from one of the Zee branded channels.

Uthandolwani will air daily at 18:00 replacing We Mamezala on Zee Zonke from 16 May. Prior to this Zee World, a sister station will rollout Force Of Attraction to consumers in Southern Africa and ROA.

"Beating A Dead...": Why SpongeBob SquarePants Graveyard Channel Still Serves A Purpose In Africa?

Nicktoons is an international brand operated by Paramount Global and also serves as a sister station to both Nickelodeon and Nick Jr. It was basically a nickname given for the latter's animated productions as the linear channel exists to air archived material.

The channel launched in Africa by September 2014 after NBCUniversal and Corus Entertainment had shuttered KidsCo. It served as the most popular international adaptation of the channel airing animated shows from the 90s to early 00s.

But in recent years this had all changed as the channel was often functioning on autopilot as SpongeBob SquarePants and The Casagrandes takeover the channel. The magic had just vanished as the brand follows a similar pursuit as other international feeds.

As some readers are aware, similar to MTV both Nickelodeon and Nick Jr. are being streamlined at this point using a more unified feed in other countries. This has prevented/minimized the number of local variations to hit consumer's screens.

There are still a few of these feeds available some due to local quotas which expand further to include children's channels.

In Africa, these local investments had been splashed onto Paramount’s remaining set of channels. For instance, MTV Base it has been seen airing MTV's Shuga despite being positioned as a music channel while others like Have Faith air on BET.

Nicktoons was also a result of these endeavors as it currently offers the Nick Jr. block which would often air content that hasn't been seen on the Nick Jr. channel like Munki And Trunk. Same goes with local dubbings of animated shows and NickMusic.

South Africa’s Takeover Regulation Panel (TRP) Has Granted MultiChoice And Canal+ An Extension To The Period They Have To Finalise An Agreement To Be Put To Shareholders

On April 8, the French pay TV operator and the South African service provider agreed to post a ‘combined circular’ to shareholders by May 7, some 20 business days later. This would have marked the point at which Canal+’s offer was open to shareholders to accept.

The pair have now secured an extension until June 4.

MultiChoice said the extension was necessary to give its independent expert and the independent board enough set up to examine the deal  time to properly fulfil their responsibilities.

Canal+ and MultiChoice agreed the terms of the French pay TV operator’s proposed mandatory offer to acquire 100% control of the South African company on April 8, with MultiChoice shareholders to receive ZAR125 per ordinary share.

The price was well above the ZAR105 regulatory minimum threshold and represents a 67% premium on MultiChoice shares’ closing price on February 1. When Canal+ made its initial offer for the company.

MultiChoice set up an independent board to consider the offer and appointed Standard Bank of South Africa to advise it.

If Canal+ succeeds in securing 90% of MultiChoice shares during the offer period, it then has the right to acquire any remaining shares and delist MultiChoice.

Since the outline agreement, Canal+ has acquired further shares in MultiChoice, taking its stake to above 40%.