News
Apollo makes $11 billion bid for Paramount’s Hollywood studio
Private-equity firm Apollo Global Management has thrown its hat into the ring with a bold $11 billion offer to acquire Paramount Global’s illustrious film and TV studio.
The bid, revealed by sources familiar with the situation, adds a new layer of complexity to Paramount’s ongoing deliberations over a separate proposal from Skydance Media.
The intrigue surrounding Paramount’s future has intensified as an independent committee of the company’s directors diligently assesses Skydance’s merger proposal, which encompasses all facets of Paramount’s expansive media empire, including CBS, Nickelodeon, and various cable networks.
WEST HOLLYWOOD, CA – MARCH 10: General views of the Paramount+ billboard campaign along the Sunset Strip promoting the launch of the new streaming service.
Keen interest
Paramount’s Hollywood studio has long been the subject of acquisition speculation, with its prestigious legacy and diverse content portfolio attracting keen interest from industry players.
Now, with Apollo’s substantial offer on the table, the stakes have been raised even higher, promising a potential shift in the entertainment landscape.
Stay tuned as this story unfolds, and watch this space for further updates on the evolving dynamics of the entertainment industry