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Once the Skydance deal closes, David Ellison will hold 100 percent of the Ellison family’s voting interest in Paramount, per a report by Deadline.
There had previously been concerns when control was thought to be in the hands of David’s father, Larry Ellison. That is because an earlier version of the filing listed the Oracle co-founder and CEO as the name at the top of a chart which listed the ownership structure for Paramount (following the transaction).
The merger agreement — brokered by Skydance and partner RedBird Capital with Shari Redstone of Paramount in August — would transfer broadcast licenses for nine television stations. Larry was likely listed at the top of the ownership structure chart because he is the main backer of Skydance, and is an investor in the Paramount acquisition.