Private equity firm Apollo Global Management has tabled an $11bn bid for Paramount Global’s film and TV studio business according to reports.
The Wall Street Journal reported that Apollo submitted the bid for Paramount Pictures and the Paramount TV studios group.
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A deal would see Apollo take control of the US studio behind film franchises such as Star Trek, Mission: Impossible, and Transformers, and series including Reacher and Tom Clancy’s Jack Ryan for Prime Video and The Haunting Of Hill House for Netflix. Paramount’s library includes classics such as The Godfather and Breakfast at Tiffany’s.
However, the offer does not extend to Paramount’s US broadcast networks CBS, Nickelodeon, MTV, Comedy Central and BET, or streaming platforms Paramount+ and Pluto TV.
Apollo’s current entertainment investments include Legendary Entertainment, the producer of films such as Dune and Godzilla vs. Kong. Apollo is a former owner of Endemol Shine Group.
Multiple companies have recently expressed an interest in Paramount Global.
David Ellison, Skydance Media CEO, has been in talks to acquire National Amusements, the holding company of Paramount Global’s controlling shareholder Shari Redstone family.
Warner Bros. Discovery chief David Zaslav and Paramount’s Bob Bakish met last year to discuss a potential merger but reports in February suggested talks had ended.
The Weather Channel owner Byron Allen reportedly made a $30bn offer to acquire the entirety of Paramount Global in January.
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