National Amusements Puts Paramount+ and Network Ten Up for Sale Amid Streaming Market Shake-Up

The landscape of the streaming market is undergoing a significant transformation. Following the announcement of substantial layoffs at Amazon Prime, National Amusements has revealed that it is considering selling its interests in Paramount+ and Australia's Network Ten, sparking discussions around a market capitalization of A$14.5 billion.

Shari Redstone Seeks Buyers

Shari Redstone, holding the reins of National Amusements and consequently controlling Paramount Global, is looking to sell the company. This decision could potentially transfer ownership of Network Ten and the Paramount streaming service to new hands. Redstone, as the majority shareholder with powerful voting rights, seems ready to exit, seeking the best possible offer for the media empire.

The Search for a Suitor

BDT Capital Partners are circulating nondisclosure agreements to interested private equity firms to gauge interest in National Amusements. Major industry players such as Warner and Discovery have already shown interest in acquiring the business. Despite a clear inclination to sell entirely, Redstone may be facing challenges in finding a buyer willing to purchase Paramount Global as a whole.

Paramount Global's Stature and Prospective Deals

Paramount Global boasts a portfolio including significant media properties like CBS, Nickelodeon, and MTV. Yet, its market capitalization recently stood at around $9.4 billion. Shari Redstone’s control over the voting shares adds substantial value beyond the face value of National Amusements' stake in Paramount. Skydance Media has emerged as a potential buyer, with discussions about an all-cash bid from CEO David Ellison — backed by his father, Oracle's Larry Ellison — looking to merge with Paramount. However, National Amusements has remained silent on these speculations.

Potential Industry Realignment

The sale could not only reshape who owns National Amusements' assets but could also lead to broader industry realignment, as Paramount Global CEO Bob Bakish and Warner Bros Discovery CEO David Zaslav have met to discuss a potential merger.

streaming, sale, Paramount