By Sony Pictures Entertainment and investment firm Apollo Global Management have reportedly been in discussions about teaming on a joint bid to acquire Paramount according to The New York Times.
According to the outlet, the two companies have not submitted an official bid with Paramount currently still in exclusive conversations with Skydance with whom they’ve had a working relationship over the years.
Apollo previously reached out to Paramount about potentially buying the company for at least $26 billion, including its debt. At the time, it was dismissed as Paramount pursued its more advanced conversations with Skydance.
Additionally questions arose about Apollo’s financing, but A joint bid with Sony would likely mitigate those concerns along with adding studio operational experience.
Sony Pictures Entertainment chief Tony Vinciquerra reportedly held conversations in the last week with Apollo about teaming up for an all-cash offer for the outstanding stock in Paramount – essentially taking the company private.
The terms of said bid are still being worked out with various options on the table. Should they merge it would bring together some of the biggest brands in entertainment.
Paramount owns the “Star Trek,” “Top Gun,” “Mission: Impossible,” “Transformers,” “Spongebob Squarepants,” “Teenage Mutant Ninja Turtles,” “Friday the 13th” and Jack Ryan franchises.
Sony owns the “Spider-Man,” “Spider-Verse,” “Men in Black,” “Ghostbusters,” “Charlie’s Angels,” “Jumanji,” and “Karate Kid,” franchises and both studios have extensive back catalogues of major movies and TV series stretching back over a century.
The post Sony In Talks For A Bid On Paramount appeared first on Dark Horizons.
