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Sony, Apollo Offers To Buy Paramount For $26 Billion
Sony Pictures Entertainment and Apollo Global Management have made a bid to acquire Paramount for $26 billion and take it private. Variety reports: Sony and private-equity giant Apollo submitted a letter with the non-binding offer Wednesday to Paramount Global, as first reported by the Wall Street ...
Sony Pictures Entertainment and Apollo Global Management have made a bid to acquire Paramount for $26 billion and take it private. It's not clear how Paramount's board will proceed on the Sony-Apollo proposal, having rejected previous overtures from the private-equity firm. Sony Corp., which acquired Columbia Pictures in 1990 for $3.5 billion, is the largest studio operator in the industry that does not have a broad-scale direct-to-consumer streaming play.
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