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Update (05/02): Sony/Apollo Global Management make $26 billion ALL CASH offer for Paramount


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Fine by me. I have to have Peacock for the WWE and I’ve always resisted Paramount because I didn’t want to add another service. Hopefully they completely redo the interface. It blows my mind how none of these companies can hire a halfway competent designer to make these UI even marginally user friendly. Except Disney and Netflix which are fine I guess. 

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  • 2 months later...

Sony makes a lot of sense as a buyer. They have a movie studio, but not a streaming service. They lack franchise IP (though Paramount isn't exactly overflowing with them either). There probably wouldn't be an anti-trust battle.

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2 hours ago, TwinIon said:

Sony makes a lot of sense as a buyer. They have a movie studio, but not a streaming service. They lack franchise IP (though Paramount isn't exactly overflowing with them either). There probably wouldn't be an anti-trust battle.

 

They also probably wouldn't just gut everything to milk a tax loss off the purchase right?

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  • 2 weeks later...
  • Commissar SFLUFAN changed the title to Update (04/29): Paramount CEO to be removed as merger agreement with Skydance Entertainment advances
DEADLINE.COM

Skydance has revised its offer for control of Paramount Global amid merger and CEO drama.

 

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UPDATED with details of revised Skydance offer: Deadline has learned that Skydance’s offer for Paramount, said to be its last and final, includes a sweetened $3 billion cash in injection — up by at least $1 billion contemplated previously. That’s key as a priority is Paramount holding enough cash on its balance sheet for an investment grade status with big ratings agencies.

 

The deal also includes a premium sweetener for a percentage of non-voting Class B shares, although details of that aren’t clear. Shari Redstone would take an unspecified haircut compared with the initial deal terms, below. Paramount’s planned all stock acquisition of Skydance, planned as a second step in the transaction, wouldn’t change, with a value remaining at about $5 billion.

 

It’s not clear what happens to the few other Class A shareholders beyond Redstone, but most, like Mario Gabelli, also hold B shares. Class A share have voting rights and Redstone owns most of them. Class B share don’t.

 

Redstone’s family holding company NAI had requested a revised Skydance offer that included more equitable treatment for stockholders beyond Shari Redstone after said investors raised an uproar. A person familiar with the new offer says it meets and exceeds all of NAI’s requests. The person also said that investors still hoping for a total takeout of Paramount by Sony and Apollo should not, because Redstone does not want to break the company up.

 

 

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A $26 billion ALL CASH offer?!?!?

 

QZ.COM

It's Apollo Global Management's second offer for the media giant, which has been in merger talks with Skydance

 

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Sony Pictures and Apollo Global Management have made a $26 billion all-cash offer to buy Paramount Global, the parent company of CBS, MTV, and Paramount Pictures, according to a new report.

 

The Wall Street Journal, citing unnamed sources familiar with the matter, reports that Sony Pictures CEO Tony Vinciquerra and Apollo partner Aaron Sobel signed an offer letter that was sent on Wednesday. The offer letter is non-binding and is meant to start talks, The Journal reports.

 

 

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  • Commissar SFLUFAN changed the title to Update (05/02): Sony/Apollo Global Management make $26 billion ALL CASH offer for Paramount

I wonder if the Sony offer might cause something to loosen in the Marvel rights of the characters. Thinking if somehow a merge with Paramount causes some slight wording of initial Marvel contract rights to allow Disney to go to court to get sole right of. No more Madam Web, Morbius and other shit down the pipeline. . . minus Spider-Verse, keep that shit going.

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6 hours ago, elbobo said:

a quick google search shows that Sony and Apollo have a combined cash on hand of about 35 billion at the end of 2023 so they can swing it without any cap raise

 

Even with having the actual cash to make good on such a ludicrous offer, I'm pretty convinced that its sole intent is to force out Skydance rather than being a truly serious bid.

 

There is a pretty significant regulatory issue with the Sony/Apollo bid that involves the CBS stations that are directly owned by Viacom as there are legal complications involving foreign company ownership of American television stations.

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