©Reuters.Apollo and Paramount (PARA) in talks over potential deal – Report
As Axios reported on Tuesday, Apollo Global Management recently began discussions with a special committee set up by Paramount Global (PARA) regarding a potential acquisition or purchase of assets.
Since the market opened on Tuesday, PARA stock has fallen less than 1%.
Apollo Global Management's acquisition of Paramount Global is likely to face competition, particularly from a consortium led by David Ellison's Skydance Media.
The group, which includes private equity giants KKR and RedBird Capital Partners, is Paramount's controlling shareholder National Amusements Inc. (NAI), which owns 77% of Paramount's voting stock and 10% financial interest. The company is considering an all-cash acquisition proposal for
Unlike the broader focus of its competitors, Apollo's focus is on Paramount, which boasts significant assets such as Paramount Pictures, CBS broadcast stations, a suite of Viacom cable networks, and streaming platforms Paramount+ and Pluto TV. It is specifically aimed at the global.
Private equity firms may also consider making bids for specific assets within Paramount's portfolio.
Initial buzz about interest in Apollo surfaced in January, but appeared to subside after reports in February suggested the company was shifting its focus away from the business.
Meanwhile, in the broader context of media consolidation, discussions of possible mergers and alliances have emerged.
In December, there were talks between Warner Bros. Discovery CEO David Zaslav and Paramount Global CEO Bob Bakish about a possible merger, but those talks have since been put on hold. ing.
Additionally, NBCUniversal's parent company, Comcast, is reportedly considering a commercial partnership with Paramount. However, acquiring an entire company could pose significant regulatory challenges, complicating potential transaction efforts in this direction.
