"Paramount Stock Plummets as Shari Redstone Questions $11 Billion Apollo Offer"
Paramount Global shares plummeted after a report indicated that controlling shareholder Shari Redstone is skeptical of Apollo's $11 billion offer for Paramount Pictures, favoring a competing bid from Skydance Media backed by RedBird Capital, Tencent, and KKR. Former CNN chief Jeff Zucker and ex-NBCUniversal CEO Jeff Shell are also involved in the Skydance option, which includes taking a majority stake in National Amusements to gain control of Paramount Global. Paramount has been the subject of various M&A offers, including from Byron Allen and Warner Bros Discovery boss David Zaslav, as the company grapples with challenges stemming from declines in the pay-TV business.
- Paramount Stock Rides Roller Coaster Back Down After Report That Shari Redstone Is “Unconvinced” By Apollo Offer For Studio Deadline
- Shari Redstone prefers rival deal to $11bn Apollo bid for Paramount studio Financial Times
- Did Apollo Lowball Paramount with an $11 Billion Offer for Its Studios? IndieWire
- Paramount Stock Drops As Shareholder Voices Doubt On $11 Billion Deal Forbes
- Apollo Global Offers $11 Billion to Buy Paramount Film and TV Studios: Report Variety
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