Sony Group Corporation (6758.T)
- Yahoo Finance Video
Why is Apollo Global interested in Paramount? CEO explains
Apollo Global Management (APO) and Sony Pictures Entertainment (SONY, 6758.T) have submitted a joint bid for entertainment giant Paramount Global (PARA). According to The New York Times, the two sides have entered negotiations after an exclusivity agreement with Skydance ended with no deal. Apollo Global CEO Marc Rowan says private equity giant is looking for value, which, he thinks, can most often be found in areas undergoing "substantial change" such as the media industry right now. "The notion that you can come in and build on a great business and try to navigate through these turbulent times, I think is where we create value," Rowan tells Yahoo Finance Executive Editor Brian Sozzi. Note: Apollo Global Management is Yahoo's parent company. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Be sure to check out more from Yahoo Finance's coverage of the 2024 Milken Institute Global Conference. This post was written by Stephanie Mikulich.
- Yahoo Finance Video
Paramount opens acquisition talks with Sony, Apollo: NYT
Paramount Global (PARA) has initiated acquisition conversations with Sony (SONY) and Apollo Global Management (APO) after the exclusivity agreement with Skydance Media ended, according to a report from The New York Times. The report also details that while the exclusivity deal has ended, the special committee behind the potential acquisition is still evaluating all offers on the table. Yahoo Finance Senior Reporter Alexandra Canal joins The Morning Brief to discuss the report and its implications for all companies involved moving forward. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino Disclosure: Apollo Global Management is the parent company of Yahoo Finance.
- LA Times
Deal or no deal for Paramount? Here are the options on the table
Paramount's 30-day window to negotiate exclusively with Skydance is closing without a deal and Sony is waiting around the hoop. What's next?
