2023 and 2024 in the entertainment industry would be known for mergers. There have been many companies coming together and the list is nowhere near stopping. But, things are going interesting particularly due to the entry of Sony Pictures.
What are we talking about? Read on.
Sony Pictures Entertainment and Apollo Global Management are thinking about joining forces to buy Paramount Global. People close to the situation confirmed they’re talking it, but there’s a lot they need to figure out before they can make an official offer.
Apollo Global Management had thought about buying Paramount before, with offers of $26 billion and $11 billion for just Paramount Pictures’ movie studio. Right now, Paramount Global is talking exclusively with Skydance Media. They want to join forces and put David Ellison from Skydance in charge. Paramount Global made a group of people to look at offers and options for Paramount. They said no to Apollo’s offers because they were worried Apollo might not be able to finish the deal, especially because of how the government feels about these kinds of deals. They’re also worried that Apollo might not be as good of an owner for Paramount as someone like Skydance, who wants to make Paramount better.
Here’s the plan Sony and Apollo are talking about: Sony would give Sony Pictures Entertainment to the deal, and Apollo and Sony would both put money in to make Paramount Global a private company.
Then, Sony would have more of the company than anyone else, and CBS would also be part of the deal.
But, where’s the dramatic problem?
Just below over here.
But there’s a problem with CBS’s TV stations. What is that?
The government says a foreign company can’t own most of them. Apollo hasn’t said anything about this yet, and Sony doesn’t want to talk about it.
This deal would be a big change for Sony, which has been in Hollywood for a long time. Even though people have been saying Sony might leave Hollywood for years, they’ve always said they’re staying.
The other option on the table is for Paramount Global to stay public. Skydance and a company called RedBird Capital Partners would give Paramount money to help with its debts and would put David Ellison in charge. But some people are worried that Shari Redstone, who owns most of Paramount Global now, would get even richer if this deal happens.
Skydance and RedBird want to talk to people who own shares in Paramount Global to get them to like the deal. But now that Sony and Apollo might be interested, things could get more complicated, even though Paramount Global is only talking to Skydance for now.
So it is basically “Begani Shadi Mein Abdullah Deewana”. But, we will keep you posted on whatever happens. Stay tuned to Binged.
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