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Who Wants to Buy Paramount?
A lot of people! We’ll explain.
The horse race for Paramount (whose components include its historic movie studio, CBS, the Paramount+ streaming service, and a raft of cable networks like MTV and Comedy Central) has been long, confusing, and ever changing. The committee was made up of independent directors, advised by Centerview Partners and the law firm Cravath, Swaine & Moore, who sifted through the deal to make sure it would satisfy more shareholders than just Redstone and her company National Amusements. On Thursday, May 2, the duo placed an all-cash bid of $26 billion, along with an offer letter signed by chief executive of Sony Pictures Tony Vinciquerra and Apollo’s Aaron Sobel.
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