National Amusements Completes Sale to Skydance Affiliates
Deal News | Aug 07, 2025 | Ropes & Gray
Ropes & Gray, a prominent law firm, advised National Amusements Inc. (NAI) in the sale of its holdings to entities affiliated with the Ellison family and RedBird Capital for $2.4 billion. NAI controlled approximately 77% of the voting stock of Paramount Global, which has now merged with Skydance to form a leading standalone media and entertainment entity. The transaction maintains Paramount's long-standing legacy as a pivotal company in Hollywood while securing jobs, encouraging innovation, and ensuring a successful future for Paramount's creative community. The transaction was formalized with the help of a specialized team from Ropes & Gray, featuring partners and associates from various practice areas including M&A, litigation, finance, tax, and more. The merger announcement was made on August 7.
Sectors
- Media and Entertainment
- Legal Advisory
- Private Equity
Geography
- United States – The United States is relevant as it is the location of the principal companies involved, i.e., Paramount Global and Skydance Media, as well as the legal advisory firm Ropes & Gray.
Industry
- Media and Entertainment – This sector is relevant because the transaction involves major industry players Paramount and Skydance, who operate within media production, distribution, and entertainment.
- Legal Advisory – Ropes & Gray's advisory role is crucial in legal matters guiding the merger, making this sector significant in the context of the transaction.
- Private Equity – The involvement of RedBird Capital and entities affiliated with the Ellison family highlights the relevance of the private equity sector in the strategic acquisition and investment aspects of this merger.
Financials
- $2.4 billion – The sale price of National Amusements Inc. to Skydance Media affiliates.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| National Amusements Inc. | Target | Company | National Amusements Inc. is the company that was sold to Skydance Media affiliates; previously held a significant stake in Paramount Global. |
| Skydance Media Affiliates | Bidding Company | Company | Entities affiliated with Skydance Media involved in the acquisition of National Amusements Inc. shares to complete the merger with Paramount Global. |
| Paramount Global | Other Company | Company | A major media company that merged with Skydance Media post the acquisition by Skydance Media affiliates. |
| Ellison Family | Bidding Company | People | Family entities associated with the acquisition of National Amusements Inc. |
| RedBird Capital | Bidding Company | Company | A private equity firm involved in the acquisition of National Amusements Inc. shares. |
| Ropes & Gray | Legal Advisor | Company | A law firm providing legal advice to National Amusements Inc. in its sale to Skydance Media affiliates. |