Paramount Global Stock Pops On Apollo’s Reported $11 Billion Bid For Studio
Reading now: 247
deadline.comShares of Paramount Global popped in afternoon trade on a report that Apollo Global has made an $11 billion bid for the company’s film and TV studio.
The private equity giant has been in and out of the mix of suitors, which also include David Ellison‘s Skydance Media and Byron Allen.
The stock heading into market close is up over 11% at $12.48 in heavier than usual volume. That’s still half of where it was a year ago as the company battles streaming losses and high debt.
It’s been a takeover target for months now without any deal. The WSJ cited people familiar with the situation saying the board is reviewing the Apollo offer.
Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
