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Apollo offers $11bn for Paramount studio

March 21, 2024

Private equity firm Apollo Global Management has reported offered $11 billion for Paramount Global’s Paramount Pictures film studio, according to Reuters.

The film studio is considered the jewel of the Paramount media conglomerate, with an expansive movie library that is home to blockbuster franchises like Mission: Impossible, Star Trek, The Godfather and Transformers. .

Shari Redstone, Paramount’s controlling shareholder through her stake in parent company National Amusements, has been reluctant to part with the studio that her father, the late Sumner Redstone, acquired in 1994 notes the report.

The FT reports that Redstone was “unconvinced” by Apollo’s offer for the studio and is already negotiating a rival deal with billionaire David Ellison.

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