Apollo Global Management Offers $11 Billion for Paramount Studios

Apollo Global Management has made a $11 billion offer to acquire Paramount Global’s studios, while the entertainment company reportedly weighs another offer from Skydance Media and RedBird Capital Partners. The deal would require Paramount Global to separate its film and television studios from the rest of the business. The offer is significantly higher than Paramount Global’s market cap. Shari Redstone, Paramount Global’s controlling shareholder, indicated interest in selling the entire company. The potential acquisition involves several key players in the media industry, including Skydance Media and David Ellison. Paramount CEO Bob Bakish also reportedly met with Warner Bros. Discovery CEO David Zaslav to discuss merging the two entertainment giants. The deal has led to a rise in Paramount shares by over 11%. Stay tuned for further updates on this acquisition.