FT News Briefing Paramount’s a long way from its peak
May 7, 2024
Discover how SoftBank's $1 billion investment is revolutionizing a UK self-driving car startup. Delve into the shifting dynamics of drug trafficking in Mexico as cartels pivot to synthetic opioids, leaving traditional farming behind. Meanwhile, the podcast explores the dramatic drama surrounding Paramount's potential acquisition by Skydance, revealing the intense negotiations and the Hollywood community's fears about corporate consolidation and its impacts on the film industry.
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SoftBank's Big AI Bet
- SoftBank leads a $1 billion investment in UK self-driving startup Wave.
- This marks Europe's largest AI deal and underscores the UK's ambition to be a global AI hub.
Paramount's Decline
- Paramount, despite its legacy, struggles to adapt to the streaming era, with stock down 73% in five years.
- A potential acquisition by Skydance offers a chance for turnaround.
Skydance's Bid
- Skydance, backed by David Ellison (son of Oracle's Larry Ellison), is in talks to acquire Paramount.
- The deal involves acquiring Redstone's National Amusements, then merging with Paramount.