Billionaire and philanthropist Laurene Powell Jobs paid $250 million to acquire a stake in Skydance, the David Ellison-led company formed by the merger of Paramount Skydance and Warner Bros. Discovery.
\n\nPowell Jobs, founder and president of Emerson Collective, was named to the board of Skydance on Oct. 5 alongside former Activision chief Bobby Kotick, which was announced the following day.
\n\nWith her board appointment, Powell Jobs acquired 20.83 million shares of Skydance Corp. for $12 each, for a total of $250 million. She indirectly owns those shares, which are held in a trust, per an SEC filing disclosing the investment.
\n\nIn addition to that investment, Powell Jobs — in her capacity as a Skydance board member — was granted 33,118 restricted stock units in the company. Those are scheduled to vest with Skydance’s 2027 annual meeting of stockholders.
\n\nAt Emerson Collective, which she launched in 2011, Powell Jobs has “paired philanthropy with venture capital investing to support entrepreneurs tackling complex global challenges,” according to her official bio. “She believes that investing in education, economic mobility, immigration, and energy can expand opportunity for the next generation and that high-quality independent journalism is essential to a functioning democracy.”
\n\nThrough Emerson Collective, Powell…
Original source: https://variety.com/v/tv/