An amended FCC filing bySkydancetoday says thatDavid Ellisonwill hold 100% of the Ellison familys voting interest inParamountonce that deal closes.
The clarification comes amid possible concerns over control residing with his father, Oracle co-founder and CEO,Larry Ellison.
A previous version of the filing, which regards the transfer of broadcast licenses for nine television stations, showed Lawrence J. Ellison at the top of a chart detailing Paramounts post-transaction ownership structure.
Skydance, with partnerRedBird Capital, cemented a merger agreement with Shari Redstone in August and the deal is expected to close in the first half of next year.
Larry Ellison is the main backer of Skydance and investor in the Paramount acquisition and the family will control the majority 77% of the merged company.
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The revised FCC filing today clarifies the manner in which the Ellison family will exercise control over what is called the New Paramount and the voting interests of NAI, or National Amusements, the Redstone family holding.
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Specifically, post closing, David Ellisons role will be New Paramounts chair and chief executive, and sole manager of the Ellison family entities (Hikouki, LLC, Furaito, LLC, and Aozora, LLC), through which the Ellison Family will own and control NAI and New Paramount.
As sole manager of these entities, David Ellison will hold 100 percent of the Ellison Familys voting interests in NAI and New Paramount, in addition to serving as New Paramounts Chairman and CEO, the filing read.
Redstone began shopping Paramount last year and entertained a number of potential suitors in a drawn out process that came to a head in late summer with Skydance emerging victorious.
Father and son are close and Oracle is expected to be an active partner in shaping David Ellisons stated vision of an entertainment company thats a media-technology hybrid.
