Ropes & Gray Recognized for Leading NAI's $2.4 Billion Sale
Deal News | Dec 09, 2024 | Ropes & Gray
Ropes & Gray's partners Jackie Cohen and Emily Oldshue have been distinguished as top dealmakers by The Hollywood Reporter for their instrumental roles in advising National Amusements, Inc. (NAI) during its proposed transaction with Skydance Media affiliates. The law firm led the negotiations for NAI’s sale to affiliates of the Ellison Family and Redbird Capital Partners, a $2.4 billion arrangement on a cash-free, debt-free basis. NAI, a significant shareholder of Paramount Global, consented to a merger involving Skydance Media and Paramount Global. This move reflects NAI’s strategic efforts for beneficial outcomes for both the Redstone family and Paramount Global's stockholders. The completion of the acquisition is slated for the first half of 2025, contingent on receiving necessary regulatory approvals.
Sectors
- Entertainment
- Legal Services
- Media
- Private Equity
Geography
- United States – The entities involved, including NAI, Paramount Global, and Skydance Media, are primarily based in the United States.
Industry
- Entertainment – The proposed sale of National Amusements, a major player with holdings in Paramount Global, highlights major transactions within the Entertainment Industry.
- Legal Services – Ropes & Gray, a law firm, played a pivotal role in advising and structuring the transaction.
- Media – As entities involved include Paramount Global and Skydance Media, this transaction deeply impacts the Media Industry.
- Private Equity – Redbird Capital Partners is identified as part of the buying entities, indicating direct relevance to Private Equity transactions.
Financials
- $2.4 billion – The purchase price for the acquisition of National Amusements, Inc. by entities affiliated with Skydance Media.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ropes & Gray | Legal Advisor | Company | Ropes & Gray is a law firm recognized for its work on high-profile mergers and acquisitions. |
| National Amusements, Inc. (NAI) | Target Company | Company | NAI is a major stakeholder in Paramount Global and is selling its holdings to entities affiliated with Skydance Media. |
| Skydance Media | Bidding Company | Company | An entity involved in the proposed merger with Paramount Global. |
| Ellison Family | Buyer | People | Reputedly leading the acquisitional entities through Skydance Media. |
| Redbird Capital Partners | Buyer | Company | A private equity firm involved in acquiring NAI's holdings with the Ellison Family. |
| Paramount Global | Other Company | Company | A media entity significantly owned by NAI and involved in the transaction through merger with Skydance Media. |