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Benzinga
  • 2 years ago
Paramount Global will pursue simultaneous talks with both Skydance Media and Sony Pictures/Apollo Global Management regarding potential mergers and acquisitions. The 30-day exclusive negotiation period with Skydance ended without a deal on May 3rd, leaving an opening for Paramount to consider Sony/Apollo's all-cash $26 billion offer. Regulatory concerns exist around the Sony/Apollo deal given the Biden administration's opposition to media consolidation. Skydance CEO David Ellison may withdraw from negotiations if Paramount pursues Sony/Apollo deeply instead of continuing exclusive Skydance talks.
Transcript
00:00It's Benzinga and here's what's on the block.
00:02Paramount Global will pursue simultaneous talks with both Skydance Media and Sony Pictures'
00:07Apollo Global Management regarding potential mergers and acquisitions.
00:11The 30-day exclusive negotiation period with Skydance ended without a deal on May 3rd,
00:16leaving an opening for Paramount to consider Sony and Apollo's all-cash $26 billion offer.
00:21Regulatory concerns exist around the Sony and Apollo deal,
00:25given the Biden administration's opposition to media consolidation.
00:29Skydance CEO David Ellison may withdraw from negotiations if Paramount pursues the
00:33Sony-Apollo deeply instead of continuing exclusive Skydance talks.
00:37For all things money, visit Benzinga.com.
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