, has received a $125 million investment from BDT & MSD Partners, an investment firm that specializes in supporting family-controlled businesses and estates.
The influx of cash is designed to take pressure off of Paramount Global stock price, which has been under water in recent months in part because of concern about National Amusements’ financial health. The deal will allow National Amusements to pay off some existing loans that have been secured by the company’s Paramount Global shares.
“Our expanded partnership with BDT & MSD reflects our strong belief in Paramount’s ability to deliver value to all shareholders. Paramount has the best assets in the media industry, with an incredible content library and IP spanning all genres and demographics, as well as the No. 1 broadcast network, the leading free ad-supported streaming television service and the fastest-growing pay streaming platform in the U.S.
Paramount Global is the largest asset owned by National Amusements. Paramount’s decision to slash its dividend earlier this year had repercussions for National Amusements that have been a drag on Paramount shares. National Amusemuents will use the BDT investment to pay down its revolving loan and “recent term loan borrowings,” the company said.
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