Apollo Global Management Inc. is considering making an offer for National Amusements Inc., the Redstone family company that controls film and TV giant Paramount Global.
Apollo is one of a number investors, both wealthy individuals and professional money managers, that have reached out in recent weeks to BDT & MSD Partners, the investment bank advising the Redstones, according to people familiar with the discussions.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Apollo, one of the world’s largest money managers, is also an investor in Legendary Entertainment, another independent film studio.
The Redstone family, led by Shari Redstone, controls 77% of the voting stock in Paramount, the parent of CBS, MTV and other film and TV properties. Paramount, like other media giants, is struggling with declining viewership for traditional TV and ongoing losses in streaming.
At a recent price of $13.20, the actively traded Class B nonvoting shares of Paramount are down more than 85% from their 2021 high of over $100.
The family, along with the Paramount board, has been more open in recent months to doing a transformative deal, according to people familiar with their thinking.
Source: Yahoo News HK
Can’t stop reading? Read more
US private equity exits gain momentum for a second year as firms race to offload ageing assets
US private equity exits gain momentum for a second year as firms race to offload ageing assets US...
Thoma Bravo leads new growth chapter for Azul with majority acquisition
Thoma Bravo leads new growth chapter for Azul with majority acquisition Thoma Bravo has closed its...
Blackstone weighs renewed sale of Canary Wharf’s Cargo building as market outlook improves
Blackstone weighs renewed sale of Canary Wharf’s Cargo building as market outlook improves...