Sony's Plans for Paramount Include Sale of Famous Studio Lot [BNN Bloomberg (Canada)]
Paramount Global - Class A (PARAA)
Company Research
Source: BNN Bloomberg
The consumer electronics giant already owns a large film and TV-production facility in nearby Culver City. Tokyo-based Sony is most interested in Paramount Global for its intellectual property, which includes movies like The Godfather and Top Gun: Maverick, said the people, who asked to not be identified because the discussions are private. It plans to keep Paramount Pictures as a label within Sony. Sony is partnering with Apollo Global Management Inc. on a proposed $26 billion purchase of Paramount Global, which also owns networks like CBS, MTV and Nickelodeon. The two submitted a nonbinding letter of interest last week and are negotiating access to Paramount's books for a closer examination before making a definitive offer. The New York Times reported on Wednesday that Sony's plans include selling Paramount's TV stations and streaming service. Sony and Apollo declined to comment. The pair are competing against a rival proposal from independent film and TV producer David Ellis
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PARAA
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