Paramount Global will end exclusive negotiations with Skydance Media without a deal, opening the door for a rival bid. Sony Pictures Entertainment and Apollo Global Management have expressed interest in acquiring Paramount Global for $26 billion. The move comes amidst internal turmoil at Paramount, including the replacement of CEO Bob Bakish. Paramount has been struggling with the aftermath of Hollywood strikes, a soft advertising market, and competition in the streaming sector. The potential acquisition would strengthen Sony s position in the North American box office and create a formidable Hollywood studio.
Canada
New-york
United-states
Hollywood
California
American
Bob-bakish
David-ellison-skydance
Aaron-sobel
Tony-vinciquerra
Shari-redstone
Spongebob-squarepants