Paramount stock soars as Wall Street sees possible Sony, Apollo buyout as 'positive' for all shareholders [Yahoo! Finance]
Sony Group Corporation American Depositary Shares (SONY)
Company Research
Source: Yahoo! Finance
to acquire the media company through a joint buyout bid with Sony Pictures Entertainment. The development comes after Paramount reportedly declined a previous $26 billion all-cash offer, which included $14 billion worth of debt, for the entire company from Apollo. It also reportedly declined a separate $11 billion bid for just the studio business from the firm. (Disclosure: Yahoo Finance is owned by Apollo Global Management.) "We view this as a positive development for all shareholders, including Shari Redstone ," CFRA analyst Ken Leon wrote in reaction to the report. Redstone and her family control Paramount through the holding company National Amusements. "Should there be a cash purchase for all PARA shares, it is likely that Apollo, as a US company, would take network assets (CBS and local TV station licenses), and Sony could hold equity in the non-FCC license assets (movies, television programs, and other)," he said. Paramount declined to comment on the report. National Am
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SONY
News
- Paramount Will Let Exclusive Talks With Skydance Lapse, Imperiling Deal [The New York Times]The New York Times
- Paramount will let exclusive talks with Skydance lapse, NYT reports [Yahoo! Finance]Yahoo! Finance
- Paramount will let exclusive talks with Skydance lapse, NYT reports [Reuters]Reuters
- A Duplex on Central Park Is Listed for $8.75 Million [The New York Times]The New York Times
- Sony and Apollo submit $26 billion Paramount offer, WSJ reports [Yahoo! Finance]Yahoo! Finance
SONY
Earnings
- 2/15/24 - Beat
SONY
Sec Filings
- 4/12/24 - Form 6-K
- 4/3/24 - Form 6-K
- 3/29/24 - Form 6-K
- SONY's page on the SEC website