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Sony wants to buy Paramount for 24 billion euros
Sony Pictures and private equity firm Apollo Global Management have expressed interest in buying Paramount Global for $26 billion (€24.2 billion), a source familiar with the matter said Thursday.
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Sony would be the majority shareholder and Apollo would take a minority stake, according to the source cited by The Associated Press (AP), who spoke on condition of anonymity because the details of the offer are not public.
The Sony-Apollo offer was first reported by The Wall Street Journal.
According to the Journal, Apollo had made an offer to buy Paramount on its own, but Paramount executives were wary of the bid, including whether the private equity firm could secure financing for a deal.
Paramount has been exploring a possible merger with Skydance, the media company of David Ellison that helped produce Paramount releases including “Top Gun: Maverick” and “Mission: Impossible — Dead Reckoning,” according to the Journal.
Earlier this week, New York-based Paramount announced that Bob Bakish was stepping down as CEO of the film, television and digital entertainment company, to be replaced by a three-person office of the CEO.
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