Paramount Global has initiated negotiations with Sony and Apollo Global Management for potential acquisition deals. This move follows significant setbacks for Paramount, including substantial first-quarter losses and the departure of CEO Bob Bakish.
Reports indicate that Sony and Apollo made a bold offer of $26 billion in all-cash to acquire Paramount, as discussions with Skydance Media faltered. Paramount’s attempts to merge with Skydance Media, led by founder David Ellison, did not materialize into an agreement after a month-long negotiation process.
Facing challenges ahead, Paramount must navigate legal threats from shareholders as it explores alternative avenues for its future. The uncertainty surrounding potential mergers or sales, whether with Skydance or Sony, is heightened by the looming possibility of legal repercussions, according to reports.
New York Times