Paramount Stock Jumps 7.9% in 2025 as Sony and Apollo Explore Joint $26B Bid
Paramount Global shares surged nearly 8% amid news that Sony and Apollo Global Management are discussing a collaborative bid for the media giant, sparking investor interest in this potential major deal.
HIGHLIGHTS
- Paramount’s shares climbed sharply after reports surfaced that Sony and Apollo Global Management are discussing a joint acquisition bid.
- No formal offer has been submitted yet, with Paramount still engaged in exclusive merger talks with Skydance Media.
- Investor skepticism remains high around the Skydance deal, and Paramount had declined Apollo’s initial $26 billion-plus purchase proposal due to financing concerns.
Shares of Paramount Global (PARA) surged nearly 8% in early trading following reports that Sony Group’s studio division is collaborating with Apollo Global Management on a potential joint bid to acquire the media conglomerate.
Despite these discussions, no official proposal has been made as Paramount continues exclusive merger negotiations with Skydance Media.
The prospective partnership with Skydance has encountered significant resistance from investors, while Paramount previously rejected Apollo’s initial acquisition offer exceeding $26 billion, citing doubts about the investment firm’s financial backing.
Paramount, the parent company of CBS, remains under the control of Shari Redstone through National Amusements, which she consolidated in 2019 to merge CBS and Viacom into Paramount Global.
Redstone also turned down a separate $11 billion bid for Paramount’s film studio in the past.
Among Paramount’s key assets are the iconic Hollywood studio and valuable franchises such as "Star Trek" and "Transformers."
In recent months, S&P Global Ratings downgraded Paramount’s credit rating from "BBB-" to junk status at "BB+" due to its high debt levels and ongoing challenges in streaming profitability.
S&P emphasized that Paramount must successfully implement its plan to reduce streaming losses within two years to avoid further credit rating declines.
Paramount has been a takeover target over the past year, including early talks to merge with Warner Bros. Discovery and a $30 billion acquisition proposal from media entrepreneur Byron Allen earlier this year.
Despite Friday’s 7.9% gain to $11.84 per share, Paramount’s stock has declined nearly 20% since the start of 2024.
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