Consortium offers $13.5 billion to rival Larry Ellison’s bid for Paramount global 

The revised offer, supported by notable industry figures and financial heavyweights, presents a compelling alternative to the Oracle founder’s-backed takeover, with promises of higher returns for shareholders and a commitment to expanding the media conglomerate.

A letter from PRP sent to Paramount’s board on January 24, outlines the new proposal. Represented by Baker & Hostetler, PRP’s bid offers $19 per Class B share—a 27% increase over Skydance’s $15 per share—and adds $2 billion to Paramount’s balance sheet, Variety first reported.

The terms also include significant governance reforms, granting Class B shareholders voting rights for the first time in the company’s history, and retaining board committees that the Skydance merger planned to eliminate.

PRP’s leadership includes Daphna Edwards Ziman, president of Cinémoi, and Moses Gross, CEO of ANM Group, with financing commitments reportedly backed by industry titans, including a satellite pioneer and one of the world’s wealthiest individuals.

While the identities of most backers remain undisclosed, there are suggestions that PRP’s roster rivals the influence of Oracle founder Larry Ellison worth $231.4 billion, who is steering the Skydance deal alongside his son, Skydance CEO David Ellison.

Paramount and its controlling shareholder, National Amusements Inc., led by Shari Redstone, are legally bound by their agreement with Skydance. Breaking the deal would require regulatory intervention, which some consider unlikely. Still, PRP’s renewed bid places immense pressure on Paramount’s board to reassess its decision-making.

As the battle for Paramount intensifies, shareholders and regulators must weigh PRP’s all-cash offer and governance reforms against the challenges posed by the Skydance merger.