Paramount Studios 11B Offer
Apollo Global Management is waving an $11 billion check in front of Paramount Global’s film and TV studios in Hollywood.
The New York-based private equity firm led by Marc Rowan has offered to buy the century-old Paramount Pictures Studios at 5555 Melrose Avenue, the Wall Street Journal reported, citing unidentified sources.
The $11 billion bid comes as an independent committee of directors of the Hollywood-based company controlled by Shari Redstone is reviewing another offer from Skydance Media, based in Santa Monica, to merge with Paramount.
Paramount Global also owns CBS, Nickelodeon and other cable networks.