Sony and Apollo Express Interest in Buying Paramount in $26 Billion Deal [The New York Times]
Sony Group Corporation American Depositary Shares (SONY)
Company Research
Source: The New York Times
Sony Pictures Entertainment and the private equity giant Apollo Global Management have formally expressed interest in acquiring Paramount for roughly $26 billion, according to two people familiar with the matter, a move that adds drama to an already chaotic deal making process.The nonbinding expression of interest, sent in a letter this week, comes as Paramount approaches an agreed-upon Friday deadline for the expiration of an exclusive negotiating period with Skydance, a Hollywood studio run by the tech scion David Ellison. Paramount has been in talks with Skydance for months, discussing a complicated transaction that would involve a merger and an investment from the private equity firm Redbird Capital Partners.The new, joint expression of interest would make Sony a significant majority and controlling shareholder and Apollo a minority shareholder. The proposed all-cash acquisition may appeal to Paramount shareholders who have come out against the Skydance deal over concerns it benef
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SONY
Earnings
- 5/15/24 - Beat
SONY
Sec Filings
- 5/14/24 - Form 6-K
- 5/14/24 - Form 6-K
- 5/14/24 - Form 6-K
- SONY's page on the SEC website