Apollo's $11 Billion Bid for Paramount Studio Sparks Bidding War Involving Shari Redstone & Legendary Entertainment
Apollo Global Management has made an $11 billion bid to acquire Paramount Global's Hollywood studio, sparking a potential bidding war. Shari Redstone, a key figure in Paramount, reportedly prefers a rival deal over Apollo's offer, causing fluctuations in Paramount's stock. Legendary Entertainment is also entering the bidding for Paramount, adding complexity to the situation.
Sources
Puck
According to one dealmaker, the Apollo idea is to potentially merge Paramount and Legendary into a single studio—combining the theatrical distribution capabilities of the former with the production and franchise assets of the latter. @MattBelloni reports. https://t.co/qsWZsx4YN6
Yahoo Finance Apollo's reported interest in Paramount studio puts deal 'back in favor' https://t.co/rHUj1IJkrF
Matthew BelloniNew @PuckNews: Legendary Entertainment is also bidding for Paramount. The logistics and ramifications ⬇️⬇️ https://t.co/hspwYTJBcp
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