Apollo Global Management, a major private-equity firm, has submitted an $11 billion bid to acquire Paramount Pictures, according to a published report.
The Wall Street Journal, citing anonymous sources, reported that Apollo Global offered $11 billion for Paramount Global’s film and TV studio business. That would apparently not include CBS, Paramount Global’s cable networks or the streaming business that includes Paramount+ and Pluto TV.
It’s unclear how the math of Apollo’s reported offer works out, as that price tag is greater than the market capitalization of the entire company ($7.3 billion as of March 19).
A rep for Paramount Global declined to comment. An Apollo Global spokesperson did not respond to a request for comment.
