Charter and Paramount agreed to a short term extension yesterday, so the Paramount networks remain for now.
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Apollo along with many of Private Equity Firms looking to buy Paramount owner National Amusments
- Thread starter DarrenVision
- Start date
It's official: Sony & Apollo make a joint offer for Paramount:
www.insideradio.com
Cox Owner Apollo Global Makes Joint $26 Billion Bid With Sony To Buy Paramount.
Apollo Global Management, a majority owner of Cox Media Group, has made a joint $26 billion offer with Sony Pictures Entertainment to by Paramount Global. The deal would potentially make
Let’s see if this one goes through, even at the risk of shedding overlapping properties. Of course we already seen what happened the last time Apollo tried to make a deal for TEGNA.It's official: Sony & Apollo make a joint offer for Paramount:
Cox Owner Apollo Global Makes Joint $26 Billion Bid With Sony To Buy Paramount.
Apollo Global Management, a majority owner of Cox Media Group, has made a joint $26 billion offer with Sony Pictures Entertainment to by Paramount Global. The deal would potentially make
Pittsburgh and Boston might be sold off and the Fox LMA deal might be changed by either sell the Fox affiliation if they include WJAX and WFOX or sell WFOX. Also its the failed Tegna deal with Standard General with a minority share by Apollo.
I said this earlier in this thread: Sony wants the film & video archive. It's huge and fairly intact. In addition to Paramount & CBS archives, there is also RKO Pictures and Desilu. Star Trek, Mission Impossible, The Godfather. Incredible history that would now belong to Sony. The real estate is also pretty staggering. Sony currently operates from the former MGM lot in Culver City. This would add what might be the oldest studio lot in town. They'd probably sell one of them.
Combine that with Sony Music Publishing, and the RCA & Columbia record labels, and it's a lot of American culture from the last 100 years.
Combine that with Sony Music Publishing, and the RCA & Columbia record labels, and it's a lot of American culture from the last 100 years.
Sony is also the owner of Wheel and Jep with CBS as a distributor, Apollo's Cox Media has radio stations.
That deal goes back to the King World days. They shoot on the Sony lot in Culver. I walked in the back gate one day and roamed around. I think the nicer property is the one on Melrose.
The DOJ under current leadership would also not look kindly at another major studio getting absorbed into a competitor after the prior DOJ all but rubber-stamped Disney taking over 20th Century Fox and gutting the redundancies.
One thing is very, very likely: the days of Paramount+ are numbered in this bid since Sony (wisely) sold off Crackle and leases out SPR/Columbia releases/library content to other streamers. PlutoTV likely gets sold off, too. I would not be surprised if Sony makes this publicly known right away so as to get positive regulatory sentiment.
The Apollo involvement is a real question mark and, unlike how they tried to sidestep it during the Tegna buyout debacle (although that was far more blatant), they are going to have to address how owning 71% of Cox and (presumably the majority of) CBS is a good idea. Then there's other question marks in Australia, the UK and Argentina where Paramount Global owns existing freeview networks.
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National Amusements owns the vast majority of Paramount Global's stock and, for all intents and purposes, is the entity selling it off.
I think if the regulators should regulate streaming and its inpact on consumers at least in my opinion if they wanna compete against big tech.
Merging Paramount+ and BET+ with Crunchyroll and Sony LIV will be an interesting surpise and a stronger FAST library in Pluto.
Cox Family has Cox Communications so the leverage in distribution will be interesting after the fallout from Charter's fight with Disney which might soon happen to Paramount.
The only overlap in local TV stations is in Pittsburgh and Boston, they might change the LMA agreement in Jacksonville either sell WFOX or sell the Fox the affilation if Apollo wants to keep both WJAX and WFOX.
I should note that Apollo is the 90% owner of Yahoo and AOL (once infamously merged with Time Warner) so it would have Yahoo News and Yahoo Finance within the CBS News fold and Yahoo Sports into CBS Sports.
In case they wanna sell the non core assets, consider Cox Radio, Yahoo Search, Yahoo and AOL Email, Yahoo Ad-Tech, and Showcase Cinemas.
And just like that, Shari is now pulling Paramount Global off the market entirely. Hardly a surprise.
variety.com
Skydance’s Proposed Deal With Paramount Global Appears to Be Falling Apart
After months of M&A talks, Paramount Global and controlling shareholder Shari Redstone might be going it alone after all.
variety.com
How much have/Will shares for paramount go up after this?And just like that, Shari is pulling Paramount Global off the market entirely. Hardly a surprise.
Skydance’s Proposed Deal With Paramount Global Appears to Be Falling Apart
After months of M&A talks, Paramount Global and controlling shareholder Shari Redstone might be going it alone after all.
It probably doesn't matter at this point. This was more because Shari simply couldn't find a suitor, and the Skydance bid fell apart. The Variety piece also stated that the Apollo/Sony bid was effectively DOA the second it was submitted.
It's still a company stuck with an arsenal of zombie cable channels, a streaming service that pales in comparison to the competition, and a movie studio in desperate need of a creative spark.
She put herself in this position to begin with, so it's not like I have that much sympathy for her. She's the one that re-merged CBS and Viacom, hired and fired Bob Bakish, sank billions into Paramount+, and did this endless courting of suitors with companies that either couldn't buy it or ultimately didn't want it.
I thought P+ was doing better than Peacock.
They need to trim the cable channels back. The same with WBD and NBC.
Cable companies don't like that idea. They need more channels to justify raising rates.
Peacock is also nearly irrelevant, but had a higher audience than Paramount+ in March 2024, according to Nielsen.
Peacock was 7th place, Paramount+ was 10th.
Cable companies would love to trim the fat and keep subscribers.
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