Screentime
Apollo Is Said to Offer $11 Billion for Paramount’s Film Studio
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Apollo Global Management Inc. offered to buy Paramount Global’s Hollywood studio for about $11 billion, according to a person with knowledge of the situation.
The price exceeds the current stock market value of the company, which has two classes of shares collectively worth more than $8 billion. The nonvoting Class B shares of Paramount rose 12% to $12.51 at the close in New York. Paramount also has about $15 billion in debt.