Private equity firm Apollo Global Management has “reached out” to Paramount Global about a possible buyout or purchase of some of its holdings, Axios reported Tuesday.
The company faces competition, including a bid from Byron Allen, who in January offered to buy Paramount Global for $14 billion. The entertainment conglomerate’s parent, National Amusements, has also gotten an offer from David Ellison’s Skydance Media in a bid that was backed by rival private equity firms RedBird Capital Partners and KKR.
Warner Bros. Discovery also reportedly considered buying some or all of the entertainment conglomerate’s assets, but backed off last month.
The report said Apollo is looking at a deal only with Paramount, which would involve Paramount Pictures, the CBS network, along with Comedy Central, BET and other Viacom cable networks and the streaming services Paramount+ and PlutoTV.
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