Several suitors including Skydance Media and Redbird Capital have reportedly been in talks with Paramount regarding a takeover of the entertainment company.
Topline
Sony and investment firm Apollo Management are in talks about a joint buyout of Paramount Global, according to multiple outlets, sending Paramount shares up around 12% in after-hours trading Thursday.Key Facts
Sony and Apollo are considering a team-up for a joint acquisition of Paramount, according to The New York Times, which noted neither company has submitted an official bid.
The Sony-Apollo joint bid would offer cash for shares of Paramount and take the company private, the Times reported, citing two people familiar with the situation.
The news of the potential joint bid comes about two weeks after Skydance Media—founded by billionaire Larry Ellison’s son David—reached a tentative agreement to buy Shari Redstone’s controlling stake in Paramount.
