RedBird Capital Partners, led by Gerry Cardinale, invested $4 billion into Paramount’s deal to merge with Warner Bros. Discovery, the biggest Hollywood M&A deal in history, a source familiar with the deal confirmed to Variety.
\n\nRedBird had already invested $2 billion in David Ellison’s Skydance Media for its takeover of Paramount Global, a deal that closed in August 2025. The additional funding brings RedBird’s investment into the Ellisons’ media holdings to a total of $6 billion. RedBird had committed to backing Paramount’s bid for Warner Bros. Discovery but the amount had not been disclosed.
\n\nThe Ellison family, through the equity investment from Larry Ellison (David’s multibillionaire father), holds the largest equity stake in Skydance. The Ellisons and investment firm RedBird together are the sole holders of Paramount Class A common stock, which gives them 100% control of the combined company’s voting shares. Cardinale, founder and managing partner of RedBird, serves as a director on Skydance’s board.
\n\nCardinale, in a statement Tuesday with the Paramount-WBD merger closing, said: “This is a defining moment for the industry. By applying our owner-operator model to Paramount and WBD’s unmatched portfolio of iconic franchises, premium original programming, and live sports rights, we can protect that…
Original source: https://variety.com/v/tv/