Paramount has entered negotiations with Sony/Apollo
Posted: May 05, 2024
- Sony Pictures Entertainment and Apollo are in talks to acquire Paramount for around $26 billion in cash - Paramount let exclusive talks with Skydance lapse and is now negotiating with multiple suitors - Sony and Apollo's offer has been supported by shareholders as an alternative to a merger with Skydance - Government regulations may pose hurdles to a deal between Sony group and Paramount - Sony would be a controlling shareholder in the potential deal, with Apollo owning a minority stake - Paramount is also considering a streaming joint venture with potential partners like Comcast - National Amusements, Paramount's parent company, has the power to veto any deal and its support is crucial - It is unclear how Sony and Paramount's approaches to the entertainment business would mesh - Paramount has an interest in a potential deal with Skydance and is preparing for the possibility that both deals could fall apart.
Summarized top reddit comments: - Paramount Global is in negotiations with Sony and Apollo - $26 billion all-cash deal being negotiated - Deal includes Paramount paying off their $14 billion debt - Offer could potentially put Paramount's stock at around $20-$39 per share - Speculation that Paramount stock will rise as a result - Hope for Sony to animate a Superman movie - Mention of Warren Buffett quote about buying high and selling low
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