Sony and Apollo Take Key Step in Bid for Paramount’s Assets [The New York Times]
Sony Group Corporation American Depositary Shares (SONY)
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Source: The New York Times
Sony Pictures Entertainment and Apollo Global Management have taken a significant step forward in their effort to court Paramount, three people familiar with the matter said on Friday.The two companies have signed nondisclosure agreements with Paramount, allowing them to look at Paramount’s nonpublic financial information, said the people, who spoke on the condition of anonymity to discuss active negotiations. Paramount previously shared materials with another suitor, the Hollywood studio Skydance.Early this month, Sony and Apollo sent Paramount a nonbinding expression of interest inacquiring the company for $26 billion.sell offBut Sony’s shareholders have fretted over the possible acquisition, given the potential cost of a bid for Paramount and the headwinds facing the subscription streaming business. Sony and Apollo are now contemplating a variety of approaches to acquire the company’s assets, but are backing away from their plan to make an all-cash, $26 billion offer for Paramount,
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SONY
Earnings
- 5/15/24 - Beat
SONY
Sec Filings
- 6/14/24 - Form 6-K
- 6/5/24 - Form 6-K
- 5/28/24 - Form SD
- SONY's page on the SEC website