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Paramount Global Stock Pops On Apollo’s Reported $11 Billion Bid For Studio
Paramount Global stock pops on report Apollo Global made an $11 billion bid for the film and TV studio. David Ellison's Skydance Media also a suitor.
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. Par’s majority shareholder Shari Redstone hasn’t wanted to pluck out and sell off the studio, its crown jewel. That’s complicated since as minority shareholders, who happen to include Warren Buffett and Mario Gabelli, are antsy about not getting taken out for a premium in a deal, while Shari is.
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