Redstones and Ellison offer concessions to Paramount investors, Bloomberg News reports

(Reuters) – The Redstone family and Skydance Media CEO David Ellison have both made concessions to make a potential change of control at Paramount Global more attractive to the company's other investors, Bloomberg News reported on Sunday.

Paramount is currently engaged in exclusive deal talks with Skydance Media, an independent studio led by Ellison, although some investors have urged Paramount to explore other options.

Ellison is offering to buy a block of Paramount stock at a premium to help improve Paramount's finances, the report said, citing a person familiar with the talks.

He has also been in discussions with an independent committee of Paramount executives about a potential deal, the report said.

The Redstones, who own a majority of Paramount's voting stock, have agreed to give non-voting shareholders a say on whether a deal with Skydance should be approved, the report said.

Sony Pictures Entertainment and Apollo Global Management are also discussing a joint bid for Paramount, Reuters reported earlier in April.

Paramount and Skydance did not immediately respond to Reuters' request for comment.

(Reporting by Chandni Shah in Bengaluru; Editing by Rashmi Aich)

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