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Sony and Apollo send letter expressing interest in $26 billion Paramount buyout as company mulls Skydance bid - TL;DR CNBC

Sony and Apollo send letter expressing interest in $26 billion Paramount buyout as company mulls Skydance bid

Publishing timestamp: 2024-05-02 16:19:20


Summary

Apollo and Sony have expressed interest in acquiring Paramount Global for $26 billion, competing with Skydance Media. Paramount's special committee could make a recommendation on the next steps as soon as Thursday. Paramount investors are divided on engaging with Apollo and Sony or sticking with Skydance. Skydance's offer includes merging entertainment assets with Paramount and buying out common shareholders at a premium. If Skydance walks away, Redstone could consider negotiating with Sony and Apollo.


Sentiment: MIXED

Tickers: PARA

Keywords: business newsbreaking news: businessmediaparamount globaltechnology

Source: https://www.cnbc.com/2024/05/02/sony-apollo-express-interest-in-paramount-buyout-amid-skydance-bid.html


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