Despite reports that Byron Allen's Allen Media Group was courting the media company with a $30B offer, Apollo Global Management Inc. was looking at a $27B offer, and even Warner Bros.
Despite reports that Byron Allen's Allen Media Group was courting the media company with a $30B offer, Apollo Global Management Inc. was looking at a $27B offer, and even Warner Bros. Discovery was in on the rumblings, Bloomberg is reporting that Shari Redstone, controlling shareholder of Paramount Global, has reached a tentative agreement with David Ellison's Skydance Media to sell her stake in the company.
Image: Paramount Global, Skydance That said – while it might not be a surprise – if true, the move won't be a smooth one when it comes to Ellison's plans to merge Paramount with his own multimedia company. While the two sides have seen their partnership result in film hits such as Tom Cruise-starring Top Gun: Maverick, an outright merger is a move that might not sit well with investors and executives on the Paramount side.
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