Paramount deal with David Ellison would require equity raise, CNBC says

A David Ellison-led bid for Paramount would require a new equity raise of up to $3B, CNBC’s David Faber reported on air. The equity raise would be part of an agreement with David Ellison’s Skydance, Faber said, who added that Ellison and his partners would step to purchase a “good amount” of that equity. The deal would be dilutive and done to give Paramount additional growth capital, according to Faber. Shares of Paramount are down 10% to $12.21 in early trading.