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✓ Published: 04-May-2024
👁 View: 940K times
✓ Published: 04-May-2024
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Sony Pictures Entertainment and Apollo Global Management have offered to acquire Paramount Global in an all-cash deal valued at $26 billion. The joint bid comes as Paramount's board considers a merger with Skydance Media that would keep the company public. Shari Redstone, the controlling shareholder of Paramount Global, prefers the Skydance deal. A Sony/Paramount merger would reduce the major Hollywood studios from five to four following Disney's 20th Century Fox acquisition. Wall Street reacted positively to the news, sending Paramount shares up 13%.
Sony Pictures Entertainment and Apollo Global Management have offered to acquire Paramount Global in an all-cash deal valued at $26 billion. The joint bid comes as Paramount's board considers a merger with Skydance Media that would keep the company public. Shari Redstone, the controlling shareholder of Paramount Global, prefers the Skydance deal. A Sony/Paramount merger would reduce the major Hollywood studios from five to four following Disney's 20th Century Fox acquisition. Wall Street reacted positively to the news, sending Paramount shares up 13%.
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