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A deal between Paramount Global and Skydance Media could see the media conglomerate acquire the independent studio in an all-stock transaction valued at around $5 billion, the Wall Street Journal reported on Friday.

Under the terms being discussed, National Amusements, which controls Paramount, would receive over $2 billion in cash in the first step of the transaction, according to the report.

Separately, Skydance could provide a substantial cash infusion to Paramount, owner of the Paramount Pictures film studio, to bolster its balance sheet and help pay down debt, the Journal said, citing people familiar with the matter.

Paramount and Skydance did not respond to Reuters’ request for comment on the WSJ report outside business hours.

National Amusements and its controlling shareholder Shari Redstone could not be contacted immediately.

Members of Paramount’s board agreed to enter into exclusive merger talks with Skydance Media, favoring the independent studio over a $26 billion offer from private equity firm Apollo Global Management, Reuters reported on Wednesday.

By merging the two companies, the combined entity would have much more flexibility around what it could do with those franchises, the WSJ said, adding that Redstone would get cash while investors with nonvoting shares would get stock in the combined company.

The deal talks are more advanced than the offer from Apollo, and if successful, would end Shari Redstone’s control of the media empire built by her father, the late Sumner Redstone.

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The agreement grants Skydance 30 days of exclusive talks with Paramount.

Skydance is led by David Ellison, son of Oracle co-founder Larry Ellison, and is seeking to buy National Amusements which directly or indirectly owns about 77% of Paramount’s voting class stock.

That sale is contingent upon Ellison’s ability to merge Skydance and Paramount Global.

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Sources: Rangers close to hiring Sullivan as coach

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Sources: Rangers close to hiring Sullivan as coach

The New York Rangers are in advanced contract talks to make former Pittsburgh Penguins coach Mike Sullivan their next head coach, sources told ESPN’s Emily Kaplan and Kevin Weekes on Thursday.

The deal is expected to be one of the richest coaching contracts in NHL history, the sources said.

Sullivan would head to New York in a move that is coming together three days after he left his job with Pittsburgh, where he coached for 10 seasons and won back-to-back Stanley Cups in 2016 and 2017.

The Penguins have missed the playoffs for the past three seasons amid a retooling of the roster.

David Quinn, Sullivan’s top assistant in Pittsburgh, is not expected to join him in New York. Quinn will be a candidate for other head coaching vacancies, including Pittsburgh’s, according to sources.

John Tortorella is a strong possibility to rejoin the Rangers organization. Sullivan, Quinn and Tortorella were on the coaching staff for Team USA at Four Nations.

In New York, Sullivan would replace Peter Laviolette, who was fired after the Rangers didn’t make the postseason for the first time since 2021.

Sullivan was selected by the Rangers in the 1987 draft but never played for New York, choosing to stay in college at Boston University before going on to an 11-year NHL playing career with four teams.

Sullivan, 57, previously served as a Rangers assistant coach from 2009 to 2013 on Tortorella’s staff. He also was the head coach of the Boston Bruins for the 2003-04 and 2005-06 seasons.

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Draisaitl, Hellebuyck, Kucherov are Hart finalists

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Draisaitl, Hellebuyck, Kucherov are Hart finalists

Edmonton Oilers star forward Leon Draisaitl, Winnipeg Jets goaltender Connor Hellebuyck and Tampa Bay Lightning standout Nikita Kucherov were named finalists for the 2024-25 Hart Memorial Trophy on Thursday.

The award is presented “to the player adjudged to be the most valuable to his team” and voted on by members of the Professional Hockey Writers Association.

Draisaitl, 29, led the NHL in goals (52), tied for third in points (106) and was a career-best plus-32 in 71 games this season. He won the award in 2019-20 and is a two-time finalist.

Hellebuyck, 31, led the league in wins (47), goals-against average (2.00) and shutouts (eight) and was second in save percentage (.925) among goalies to play at least 25 games. The Vezina Trophy finalist as the best goaltender in the NHL is a first-time Hart finalist.

Kucherov, 31, led the NHL in scoring for the second consecutive season with 121 points (37 goals, 84 assists). He won the Hart Trophy in 2018-19 and is a three-time finalist.

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Injured Scheifele won’t travel with Jets for G6

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Injured Scheifele won't travel with Jets for G6

Winnipeg Jets coach Scott Arniel said Thursday that star center Mark Scheifele will not travel with team ahead of Game 6 against the St. Louis Blues.

Scheifele will remain in Winnipeg after he missed the second and third periods of his team’s 5-3 victory Wednesday against the Blues in Game 5 of the Western Conference quarterfinals.

“You’re hoping for the best that maybe he wakes up today and things are better,” Arniel told reporters before the team flight to St. Louis. “But right now, he won’t be making the trip, and we’ll just go day-to-day moving forward.”

With 13:51 remaining in the opening period, the Jets were in the Blues’ zone when Scheifele had just played the puck along the half wall. That’s when he was instantly checked by Blues captain Brayden Schenn. Scheifele appeared to be concentrating on the puck and looked as if he did not see Schenn, who connected with the top half of Scheifele’s chest and knocked him down to the ice.

Schenn was given a two-minute minor for interference and another two-minute minor for roughing.

A little more than 10 minutes later, Scheifele was involved in another physical sequence. He was just about to reach the Blues’ zone when forward Radek Faksa also checked him and appeared to have struck Scheifele in the same area as the previous hit from Schenn.

Scheifele finished the first period, but Arniel spoke to the officials as both teams were entering the dressing room before first intermission. Blues coach Jim Montgomery confirmed with reporters after the game that Arniel spoke to the officials about the Schenn hit before sharing his thoughts.

“Let’s make it clear: Fifty-five got hurt from the Faksa hit,” Montgomery said. “He played six minutes after the Schenn hit. He didn’t come back after he got rocked by Faksa.”

Upon hearing Montgomery’s comments, Arniel had some thoughts of his own.

“I didn’t know Monty got his medical degree and can say how our player got hurt. He’s way off base and should not make that comment,” Arniel told reporters. “There’s some things that have been going on in this series and that was a repeat of what we’ve seen before: A player leaving his feet and then hitting a player in a very unprotected spot. Like hitting him in the sense, almost blindsiding him. Not happy with how the call was made. A two-minute minor. Not even looking at it is what I was upset about.

“It is something we have talked to the league about for five games.”

On Thursday, Arniel was asked if Scheifele was in concussion protocol.

“I’m not going down that road,” Arniel said.

It’s possible that the Jets could once again turn to Vladislav Namestnikov like they did in Game 5 and elevate him to the top line. The second-line center would take Scheifele’s place on the first line alongside Kyle Connor and Gabriel Vilardi.

Namestnikov, who had 11 goals and 38 points in 78 regular-season games, had his strongest game of the postseason in Game 5. He finished with a goal and two points while logging 17:15 of ice time.

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