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Scott we're back with our second big story the fate of Paramount is up in the air looks like sher's going to run it
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herself after controlling shareholders Sher Redstone killed merger talks with Sky Dan earlier this week ending a
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monthlong saga that keeps going on I know you know we've talked about whether it's important or not but it's very
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interesting National amusements the Redstone family company that owns Paramount said the parties have not been
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able to reach a deal noting they could not agree on outstanding non-economic terms Redstone is now reportedly looking
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to pursue a separate sale of national M movements without trying to merge Paramount with another company I I I've
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been trying to figure it out um there's a Sony deal Apollo deal that was sticking out there but it was the only
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other one um there was a talk about a Paramount Warner Brothers merger there were all these plans to take CVS and
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have Jeff zooker and Jeff shell run it that's gone um I don't know what to say I guess David zoff is probably calling
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her I suppose um it's such a convoluted ownership structure and by the way media
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investor Edgar bronfin Jr backed by Bane capital is reported looking to make a $2
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billion offer for National amusements um Stephen Paul Hollywood producer stepen Paul is also lining up financing what do
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you do if you're a Paramount shareholder is there anything to do that shares dropped 8% on Tuesday again I don't want
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to make it I wish Paramount would develop be essentially really poorly trained or have a limp and that that the
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governor of South Dakota would just take this thing and shoot it and bury it in a
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gravel pet I am so sick of hearing about the neuroses of billionaires do you realize you know this is really an
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interesting and disparaging statement on America the only people going after this
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thing now are billionaire children Edgar brontman Jr Sher Redstone David Ellison
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what do they all have in common they've all inherited billions that those are the three
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players involved in this and then and then what did we Apollo and Sony well okay there but what did we predict
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Apollo's just waiting for this dysfunction to to pan out have at it have at it billionaire weirdos and when
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you're serious I had thought about that and when you're serious and realize this
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these pretzel weird gymnastic unnatural act deals fall apart because they make no [ __ ] sense and they never did
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we're here probably not at a price you like but we're here and you're right it's either going to go I don't know if
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Warner can do it with their debt right now I I think well they they' brought it down quite a bit they brought it down
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this is what's happened disciplined executive the company has been in play for 6 months when companies are in play
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their stocks go up in the last six months Paramount Global's stock has gone down 34% because all this drama has
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reflected is the controlling shareholder at Paramount is a billionaire child and the great thing
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about dynasties is usually usually the kid [ __ ] it up and spends most of dad's
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money and usually what's interesting is the grandkid looks up and says grandfather was a baller Grand dad was
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an idiot and they make some of it back but this is the next generation of idiots blowing their parents' money
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notice how no Institutional Investor is a serious bidder here yeah not yet they're waiting so and and again I'm
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just kind of like I can we just fast forward to when this thing has put out of its misery so so let me ask you then
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what is that what is the best answer here because there's some very valuable media no question split up give
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the movie company to a to to Sony give the cable companies to a larger rollup that will cut costs instead of
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pretending there's a future in cable just make Nana and po pop comfortable and cut cost faster than the business is
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declining because it's still a good business it's still a profitable business it's just not growing and call
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it a day H but Sherry my sense of Sherry is every time the bankers kind of convinced her this is the best deal she
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you know hangs out with Theo's wife and decides she's getting a shitty deal after a few glasses of Chardonnay and
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then blows the deal up I mean I would imagine every serious banker and every serious acquir is sort of like yeah
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we're just kind of done here we can't get a deal done with these people oddly enough I was talking to a very
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high-profile Banker who who is peripherally involved and this week and they're like this is all about personal
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drama 100% playing out in a thing and it's like someone needs to get a therapist which Sherry had a very I like
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Sherry um I've interviewed her several times but it's like she she can't run it herself she just isn't she just can't
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they're going to leave and by the way so these trip these triple CEOs at least two of them I understand are going to
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leave um they have a triple CEO situation in place um they're going to go it looks like you know they're going
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to get out of Dodge and they're they're saddled with all kinds of things but in in there is all this valuable IP all
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this really interesting IP um hit th hit shows lots of lots of Juicy bits here and it just to take the to watch this
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company you know Paramount Pictures was Paramount [ __ ] pictures right yeah and you know there there are some very
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Dynamic media companies still um this is not one of them and so I I just wonder it's so romantic the idea of buying it
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but it's so like I don't if I don't understand a deal I was like you're going to buy what and sell what to what
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what does this have to do with what's good for Paramount or what's good for CBS or whatever you know none of it has
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anything to do with what's good for the business but whenever you're selling anything whether it's a football team or
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a business you just really want to hope that the child of a billionaire or a kid
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who inherited billions shows up again notice how the only three people bidding on this thing right now are billionaire
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children yeah it's interesting I will say David Ellison's done a very good job as a movie producer made top very Shar
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Guy Star Star Trek and um you know I was kind of like why do you need to be he wanted a little more power right and
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this was a short trip to that presume for he thought it was a short trip to it but what a waste of his time go make
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another movie David go make another hit movie you're good at it but look at this
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is all ego billionaire kids are like I don't need money what do I want to do I want to go to the can film festival and
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the Oscars and I like movies so I get to do that and the serious investors the serious investors are like you we'll
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just sit this one out until they come to us and say they're willing to sell at a
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it Mak sense for our limiteds we're you know we have we're cursed with being grown-ups and we don't have billionaire
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parents so we need to act more rationally and a little bit more like see above grownups yeah absolutely
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anyway we'll see