David Ellison Makes Offer for Redstone Family’s Media Empire

David Ellison has made a preliminary offer to buy National Amusements Inc., the holding company of the Redstone family, as a way to take control of Paramount Global, the media giant that owns MTV and Nickelodeon, according to people familiar with the matter.

Ellison has also had discussions with Paramount about merging his film and TV studio, Skydance Media, into the larger media company, after he takes control. Both sides have hired advisers and are exchanging financial information, said the people, who asked to not be identified discussing private conversations.

National Amusements owns movie theaters and controls ...