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Paramount Global is in a delicate position.
Sony and Apollo Global Management sure have.
Meanwhile, Warner Bros. Discoverys interest in Paramount lasted for two seconds comparatively.
It has its own problems to contend with.
Of course, all this could change by the time youre done reading this paragraph, so stay tuned.
But as of May 3, Skydances exclusive bidding window is on the precipice of expiring.
Ellisons companyreportedlyput in their best and final offer to Redstone on Sunday, April 28.
(The bid was not mentioned during Paramounts earnings call the next day.)
Apollo has experience in the industry but is looking to add another entertainment company to its portfolio.
Initially, the firm sought to bid on Paramount Global alone to no avail.
And theyre coming out swinging.
Currently, Sony has astreaming exclusivity deal with Netflix.
(Ironically, Netflix itself tried to buy Paramount Picturesin 2019.)
Thered basically be one less fully independent movie and TV studio in Hollywood.
(This is exactly what happened when Disney bought Rupert Murdochs Fox entertainment assets.
There are still movies and shows released with the Fox label but theyre still Disney productions.)
