Reported about 1 month ago
Larry Ellison, the co-founder of Oracle, will gain control over Paramount Global after his son David's group purchases the Redstone family's stake in the company for over $8 billion. The acquisition includes the investment of more than $6 billion aimed at acquiring Paramount shares and reducing its debt. Following the deal, David Ellison is set to become Paramount's chairman and CEO, while the transaction awaits approval from the FCC.
Source: YAHOO