(Boursier.com) — Sony Pictures Entertainment and Apollo Global Management could submit a joint offer on Paramount Global. According to ‘Reuters’ sources, the two companies have not yet contacted their target, which is in exclusive talks with Skydance Media, although some investors have urged Paramount to explore other options. The duo’s offer, which is still being structured, would be in cash and would lead to a privatization of the famous studio behind ‘Mission Impossible’ and ‘The Godfather’.
Under the proposed deal, Sony would acquire a majority stake in the joint venture and operate the media company as well as its film library. Sony Pictures Entertainment Chairman Tony Vinciquerra would likely run the studio and benefit from Sony’s marketing and distribution. Apollo would take control of the CBS television network and its local stations, a move required by laws that limit foreign ownership of U.S. television networks.
The private equity firm previously made a $26 billion offer to buy Paramount Global, whose enterprise value at the end of 2023 was about $22.5 billion. But a special committee of Paramount’s board of directors chose to continue advanced negotiations with Skydance, rather than pursue a deal “that may not come to fruition” with Apollo.
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