Sony and Apollo’s Plan for Paramount: Break It Up [The New York Times]
Paramount Global - Class A (PARAA)
Company Research
Source: The New York Times
Shari Redstone helped build Paramount Global into a sprawling media empire, but if Sony Pictures Entertainment and private-equity giant Apollo Global Management succeed in acquiring it, they plan to break it all up, according to three people familiar with the matter.The plan would see the CBS broadcast network, cable channels like MTV and the Paramount Plus streaming service auctioned off, said the people, who asked not to be identified sharing private details. Paramount Pictures — home to blockbusters like “The Godfather,” “Top Gun” and the “Mission Impossible” franchise — would be combined with Sony’s existing business.Sony and Apollo, which made a nonbinding expression of interest in acquiring Paramount for $26 billion last week, are also likely to keep Paramount’s library of films and TV shows and the rights to well-known characters, including the Teenage Mutant Ninja Turtles and SpongeBob SquarePants. They have not yet outlined this plan to Paramount or its advisers.A breakup of
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News
- Sony & Paramount Sign Non-Disclosure Agreement Allowing Deal Talks To Start, But It's Not Looking Like A $26 Billion Bid For Whole Company Anymore [Yahoo! Finance]Yahoo! Finance
- Paramount Global's Top Marketing and Communications Exec, Julia Phelps, Is Leaving [Yahoo! Finance]Yahoo! Finance
- Paramount Global Chief Communications, Corporate Marketing Officer Julia Phelps to Exit [Yahoo! Finance]Yahoo! Finance
- Paramount Global Taps Jonathan Bingaman As President Domestic Licensing & Distribution [Yahoo! Finance]Yahoo! Finance
- Former Penguins player hosts charity hockey game to raise awareness for mental illness [CBS News]CBS News
PARAA
Earnings
- 4/29/24 - Beat
PARAA
Sec Filings
- 5/17/24 - Form DEFA14A
- 5/10/24 - Form 4
- 5/10/24 - Form 4
- PARAA's page on the SEC website