Apollo Global Management's $11 Billion Bid Sparks Rally in Paramount Global's Shares

Wednesday, 20 March 2024, 18:58

Paramount Global shares soared by almost 8% following the disclosure of an $11 billion acquisition bid by Apollo Global Management for the media conglomerate's Hollywood film and television studio. The potential deal has ignited investor enthusiasm and raised speculation about the future of Paramount in the entertainment industry. If successful, this acquisition could significantly impact the strategic landscape of the media sector.

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Paramount Shares Surge on Apollo's $11 Billion Bid

Shares of Paramount Global climbed nearly 8% Wednesday on reports that private-equity firm Apollo Global Management Inc. has offered $11 billion to buy the media conglomerate’s film-and-television studio.

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