Laurene Powell Jobs buys $250 million Skydance stake after board seat
An SEC filing shows Powell Jobs acquired 20.83 million Skydance Corp. shares at $12 each, held indirectly through a trust, days after joining the board.
Laurene Powell Jobs paid $250 million for a stake in Skydance, acquiring 20.83 million shares of Skydance Corp. at $12 per share, according to an SEC filing reported by Variety. The shares are held indirectly through a trust.
The disclosure follows her appointment to Skydance's board on Oct. 5. Former Activision chief Bobby Kotick was also named to the board, with both appointments announced the following day.
As a board member, Powell Jobs received 33,118 restricted stock units, which vest at Skydance's 2027 annual stockholders meeting.
Powell Jobs is the founder and president of Emerson Collective, which she launched in 2011. In 2017 she became majority investor and chair of the board of the Atlantic under a deal reached that year.
Skydance was formed by the merger of Paramount Skydance and Warner Bros. Discovery. RedBird Capital Partners, led by managing partner Gerry Cardinale, had previously invested $4 billion into Skydance.
Quick answers
How much did Laurene Powell Jobs invest in Skydance?
She paid $250 million for 20.83 million shares of Skydance Corp. at $12 per share.
When did Laurene Powell Jobs join Skydance's board?
She was named to the board on Oct. 5, with the appointments announced the following day.
Who else joined Skydance's board at the same time?
Former Activision chief Bobby Kotick was also named to the board.