Billionaire Larry Ellison’s support for Stargate, a $500B AI infrastructure project endorsed by President Trump, could smooth the path for the contentious merger between Paramount (PARA) Global and Skydance Media, The New York Post’s Josh Kosman reports. According to insiders, Ellison may be leveraging his backing of Stargate to help his son David’s Skydance Media secure regulatory approval for the $8B merger with Paramount, despite Federal Communications Chair Brendan Carr, appointed by Trump, expressing concerns about the merger, citing allegations of bias by Paramount-owned CBS during the 2024 presidential election. Paramount is also reportedly considering settling a $10B lawsuit Trump filed over the alleged bias before the merger review takes place, sources say.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PARA:
- Paramount, Skydance see needing to offer concessions to win deal nod, WSJ says
- Now Streaming: Imax to debut Netflix ‘Narnia’ film across its network in 2026
- Hit by LA Fires, Apple, Amazon and Netflix (NASDAQ:NFLX) to Stream Benefit Concert
- Disney, Netflix, others in talks to stream L.A. fires concert, Bloomberg says
- M&A News: Another Hurdle for Paramount (NASDAQ:PARA) Merger: Tencent