7 months ago
28
Paramount Global’s share price soared on Thursday following a report that Sony Pictures and Apollo Global Management made a US $26 billion offer for the troubled media giant.
Paramount’s shares rose 12 per cent on the news.
Paramount is home to some of the world’s biggest media assets including Paramount Pictures, CBS, MTV, the UK’S Channel 5 and Australia’s Channel Ten.
The movie studio’s blockbuster hits include the Mission: Impossible franchise and The Godfather.
But Paramount has struggled with the transition to streaming media and has been riven by internal power struggles.
This week Bob Bakish, Paramount’s chief executive and one of the longest-serving media bosses in the US, was ousted amid reports he had clashed with Shari Redstone, Paramount’s current controlling shareholder, over her plans to sell the company.
Paramount has been considering a merger with Skydance Media, a production company led by David Ellison, the producer and son of Larry Ellison, the billionaire tech tycoon.
English (US) ·