RazedInBlack
RazedInBlack
Shares in media giant, whose chief executive Bob Bakish was this week ousted amid reports of clash with Shari Redstone, spike 12%
Paramount Global’s share price soared on Thursday following a report that Sony Pictures and Apollo Global Management had made a $26bn offer for the troubled media giant.
According to the Wall Street Journal, the offer was made on Wednesday by Sony’s chief executive, Tony Vinciquerra, and Aaron Sobel, a partner at Apollo. Paramount’s shares rose 12% on the news.
Paramount is home to some of the world’s biggest media assets including Paramount Pictures, CBS, MTV, the UK’S Channel 5 and Australia’s Channel Ten. The movie studio’s blockbuster hits include the Mission: Impossible franchise and The Godfather.
But Paramount has struggled with the transition to streaming media and has been riven by internal power struggles. This week Bob Bakish, Paramount’s chief executive and one of the longest-serving media bosses in the US, was ousted amid reports that he had clashed with Shari Redstone, Paramount’s current controlling shareholder, over her plans to sell the company.
www.theguardian.com
Paramount Global’s share price soared on Thursday following a report that Sony Pictures and Apollo Global Management had made a $26bn offer for the troubled media giant.
According to the Wall Street Journal, the offer was made on Wednesday by Sony’s chief executive, Tony Vinciquerra, and Aaron Sobel, a partner at Apollo. Paramount’s shares rose 12% on the news.
Paramount is home to some of the world’s biggest media assets including Paramount Pictures, CBS, MTV, the UK’S Channel 5 and Australia’s Channel Ten. The movie studio’s blockbuster hits include the Mission: Impossible franchise and The Godfather.
But Paramount has struggled with the transition to streaming media and has been riven by internal power struggles. This week Bob Bakish, Paramount’s chief executive and one of the longest-serving media bosses in the US, was ousted amid reports that he had clashed with Shari Redstone, Paramount’s current controlling shareholder, over her plans to sell the company.
Sony and Apollo reportedly make $26bn offer for Paramount
Shares in media giant, whose chief executive Bob Bakish was this week ousted amid reports of clash with Shari Redstone, spike 12%
www.theguardian.com
Last edited by a moderator: