Film producer David Ellison, backed by investors RedBird Capital and KKR, is aiming to acquire Paramount Studios for $15 per share, representing a 26% increase from the previous closing price.

The acquisition plan involves purchasing the Redstone family's majority stake and merging Paramount with Skydance Media, which offers $23 per share to Paramount Global's voting stockholders.

The deal includes acquiring National Amusements Inc. and injecting billions into Paramount.

The proposed merger with Skydance is currently on hold pending approval from Paramount's majority shareholder, Shari Redstone.

If the merger is not approved, Paramount is considering cost-cutting measures up to $500 million, which could lead to layoffs and operational streamlining.

Berkshire Hathaway has sold all its shares in Paramount due to financial losses.

Despite Paramount+ having a strong first quarter, Shari Redstone's upcoming decision on the merger leaves the future of Paramount Global uncertain.