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Sony, Apollo Make $26 Billion All-Cash Offer for Paramount
Posted on 5/2/24 at 1:38 pm
Posted on 5/2/24 at 1:38 pm
quote:
In the latest twist in Paramount Global‘s M&A saga, Sony Pictures Entertainment and Apollo Global Management reportedly have made a bid to take Paramount private with an all-cash buyout offer of $26 billion.
Sony and private-equity giant Apollo submitted an offer letter Wednesday to Paramount Global that is “a starting point for discussions and is nonbinding,” per a Wall Street Journal report Thursday. The reported bid, which evidently would include the assumption of debt, comes as Paramount Global board’s special committee established to consider M&A proposals is evaluating the best and final offer from Skydance Media to merge Paramount and Skydance while keeping Paramount Global public.
quote:
If it happens, the combination of Sony Pictures with Paramount Pictures would likely result in mass layoffs — and knock the number of major Hollywood studios from five to four, after Disney took over 20th Century. Sony Corp., which acquired Columbia Pictures in 1990 for $3.5 billion, is the largest studio operator in the industry that does not have a broad-scale direct-to-consumer streaming play.
LINK
Paramount rejected a previous bid from Apollo, most recently for more than $27 billion for Paramount Global (including debt) and prior to that an $11 billion offer for just Paramount Pictures.
Posted on 5/2/24 at 1:44 pm to Kinderman
This would explain why Sony hasn't made any moves to create their own streaming platform....
Posted on 5/2/24 at 3:15 pm to VoxDawg
quote:
This would explain why Sony hasn't made any moves to create their own streaming platform....
They did. But it failed badly, apparently due to catastrophically poor marketing decisions. Discussed here.
If this does happen, I wouldn't mind getting the Sony library added to Paramount+. I wouldn't mind that at all.
This post was edited on 5/2/24 at 3:17 pm
Posted on 5/2/24 at 4:09 pm to ouflak
I'd much rather have Sony owning the Paramount IP than Disney or Apple or basically any major American media company, but I still don't know how all these mergers are even legal.
Posted on 5/2/24 at 4:10 pm to Kinderman
If this happens, the big players are down to
Disney and Fox
WB
Sony and Paramount
Universal
And a number of those like WB and Disney / Fox are having issues right now.
Disney and Fox
WB
Sony and Paramount
Universal
And a number of those like WB and Disney / Fox are having issues right now.
Posted on 5/2/24 at 8:50 pm to teke184
Competition is a good thing.
This is not a good thing. Pretty soon all the content will come from one or two providers and it will be controlled more than ever before. And that will potentially suck hard.
This is not a good thing. Pretty soon all the content will come from one or two providers and it will be controlled more than ever before. And that will potentially suck hard.
This post was edited on 5/2/24 at 9:56 pm
Posted on 5/2/24 at 8:58 pm to CocomoLSU
I have a feeling that, eventually, a lot of these studios are going to collapse under their own weight and pieces will be sold off as a result.
Kind of like Fox selling their backlot to become Studio City when Cleopatra’s cost overruns damn near killed the studio.
Kind of like Fox selling their backlot to become Studio City when Cleopatra’s cost overruns damn near killed the studio.
Posted on 5/3/24 at 8:07 am to teke184
quote:Disney’s issues are self inflicted because they’ve been more worried about DEI than producing the type of good, family friendly content that the Disney name was synonymous with for 70 years.
And a number of those like WB and Disney / Fox are having issues right now.
And they should be printing money with Star Wars but insist on keeping Kathleen Kennedy in charge of pissing that away
Posted on 5/3/24 at 8:52 am to Tiger Prawn
quote:
Disney’s issues are self inflicted because they’ve been more worried about DEI than producing the type of good, family friendly content that the Disney name was synonymous with for 70 years.
I will say, I dont think there was anything in not family friendly about the Little Mermaid but they absolutely would have made 2-3x the money if they didn’t cast a black Ariel.
I also think Snow White is going to be a disaster for them.
They need to just cast a blonde hercules and get Beyoncé to play a muse and cast a cute white girl as Rapunzel.
This post was edited on 5/3/24 at 9:56 am
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