Shari Redstone, whose family controls Paramount Global, has entertained several offers over the years to buy its famed movie studio. Skydance Media CEO David Ellison is eyeing something more ambitious.

Ellison is discussing an all-cash bid for Paramount’s parent, National Amusements, with financial help from other Skydance investors including his father, billionaire Larry Ellison, according to people familiar with the matter. The investors would buy at least a majority stake in National Amusements from the Redstones, the people said.