BDT is an affiliate of BDT & MSD Partners, a merchant bank catering to family business owners and founders. Its infusion will help the company, which brought together CBS and Viacom in 2019 before later rebranding as Paramount, weather a difficult stock market environment. Shares in Paramount are worth less than half what they were at the time of the merger, though they rose 5% in after-market trading on the news of the BDT stake.
“Our expanded partnership with BDT & MSD reflects our strong belief in Paramount’s ability to deliver value to all shareholders,” said Redstone. “NAI has conviction in Paramount’s strategy and execution, and we remain committed to supporting Paramount as it takes the necessary steps to build on its success and capitalize on the strategic opportunities in our industry.