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Skydance has been vying to buy Paramount. The private equity giant teamed up with Sony for a $26 billion bid. AdvertisementApollo Global Management and Sony have teamed up to buy Paramount for $26 billion, according to reports on Thursday. The all-cash offer has been submitted to Paramount's board, a person close to the negotiations confirmed to Business Insider. This story is available exclusively to Business Insider subscribers.
Persons: Skydance, Aaron Sobel, , David Ellison, Larry Ellison Organizations: Paramount, Sony, Service, Global Management, Business, Skydance Media
Sony and Apollo Global Management are reportedly bidding big for Paramount. AdvertisementSony and the private equity firm teamed up for an all-cash offer of $26 billion for Paramount Global, The Wall Street Journal reported on Thursday. Sony and Apollo's offer was nonbinding, according to the JournalApollo's bid comes after Paramount announced its CEO Bob Bakish was stepping down Monday. Apollo previously bid $11 billion for just Paramount's movie studio, the Wall Street Journal reported in March. Apollo partner Aaron Sobel co-signed the offer letter with Sony CEO Tony Vinciquerra, people familiar with the situation told the Journal.
Persons: Bob Bakish, They've, Hayley Cuccinello, Aaron Sobel, Tony Vinciquerra, Sobel, Lee Solomon, Shari Redstone hasn't Organizations: Sony, Apollo Global Management, Paramount, Paramount Global, Street, Skydance Media, RedBird Capital Partners, KKR, Apollo, Wall Street, Legendary Entertainment, Concord Music Group
We're highlighting profiles we've done of some of the most powerful people on Wall Street. They are, as you will see, largely white males — a telling reminder of who still wields the power throughout most of Wall Street. Gregg Lemkau was considered a future CEO candidate at Goldman Sachs before he shocked Wall Street by leaving for Michael Dell's investment firm in 2020. Soft-spoken types can sometimes get bulldozed on Wall Street, where so-called alphas often reign supreme. Inside his strategy for turning Goldman into the Amazon of Wall Street.
Apollo Global Management; Yahoo; Brightspeed; Legendary; Alyssa Powell/Insider1. That, in a nutshell, is life at Apollo Global Management. The firm works on a points system that could most easily be described as a profit-share system, Casey told me. In other news:France's Kylian Mbappe celebrates with the trophy after winning the World Cup REUTERS / Kai Pfaffenbach2. You're not just watching the World Cup.
He persevered through the brutal all-nighters, the perplexing spreadsheets, and the temperamental bosses who walked the halls of the midtown Manhattan investment firm. At Apollo, executives tend to grow up quickly. Some of their former colleagues have tried to make more money elsewhere, such as the hedge funds run by billionaire personalities that Apollo's executives quietly root against. Associates sometimes dealt with burnout from heavy workloads and demanding bosses by escaping for a walk through Central Park to let off steam, according to the former firm associates. We're Rayman Apollo!'"
Abry Partners' $100 million stake in Kevin Hart's company HartBeat is the latest big M&A move in Hollywood. Dealmakers said production companies are valuable amid the streaming wars and demand for content. The M&A activity had top Hollywood dealmakers telling Insider in early 2022 that practically every independent production company is a target. Many production companies make work-for-hire or don't control the rights to a project once it is sold off to a studio distributor. Based on January interviews with five entertainment industry experts and insiders, Insider identified a list of 10 production companies that could be compelling acquisition targets as M&A activity continues.
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