Investment focus and philanthropic pursuits of Shari Redstone, as she discusses her involvement with Israel's Sipur and the future plans for Advancit Capital, summarized in audio.
Shari Redstone Invests in Sipur Production Banner, Sees Opportunity to Present a Different Israel
Shari Redstone, the media mogul and Vice Chair of National Amusements, has made an investment in Emilio Schenker's Sipur production banner. This move marks Redstone's latest venture into the entertainment industry, and she is excited about the potential of bringing Sipur's entertainment to the world.
Redstone, who holds a 27.5% stake in Sipur, is aware of the difficult social and business climate in Israel, particularly due to the devastation in Gaza. She believes in using her voice and platform to make a difference and sees working with Sipur as an opportunity to present a different Israel.
The mood at CBS, where Redstone is a significant shareholder, has been affected by the Paramount-Skydance merger process. However, Redstone is "very much all in" when it comes to her involvement in the management of Sipur.
Redstone was attracted to the opportunity at Sipur due to its consistent work with her foundation, its team, business model, and vision. She sees a need for media to work in concert with philanthropy and civic efforts to encourage peace and inclusion in Israel and the Middle East.
Shari Redstone's latest venture fund, Advancit Capital, focuses on crypto and AI, with her son-in-law Jason Ostheimer taking the lead on future operations. However, her investment in Sipur was not made with the intention of getting involved in another business. Instead, she was looking to focus on her foundation and the work that she's doing.
Meanwhile, the media industry is abuzz with rumors of Paramount's interest in Warner Bros. Discovery. Ellison is poised to make an offer for the entire company to preempt a bidding war for HBO and streaming assets. If the deal goes through, the standalone Warner Bros. would be less highly leveraged and more attractive as an acquisition target, potentially involving companies like Netflix, Apple, Comcast, or Amazon in a bidding process.
Redstone's investment in Sipur comes at a time when she is focused on addressing the centuries-old hatred that drives the current strife in Israel. She is excited about the opportunity to work with Sipur to address social and political issues and create content that might face distribution challenges.
Variety's business editor Todd Spangler and TV news editor Joe Otterson discussed the state of the play at Paramount in today's episode. The decision to move on the Paramount-Skydance merger caught the industry by surprise, but Redstone's investment in Sipur signals her commitment to making a difference in the entertainment industry and beyond.
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