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Paramountglobal

Paramount stock slumps 8.51% on request of Equity RaiseParamount Global's ( NASDAQ:PARA ) shares plummeted by 8% on Thursday following news reports that it may require an infusion of new equity of up to $3 billion to merge with Skydance Media. The reports are based on information provided by sources familiar with the deal. The founder of Skydance Media, and his associates are expected to provide a significant portion of the equity needed, but it would be dilutive. The merger discussions come as Shari Redstone, the controlling shareholder of Paramount ( NASDAQ:PARA ), is reportedly in exclusive talks with Ellison to sell her stake to him. The two firms are also said to be exploring the possibility of a merger. The Wall Street Journal reported that Apollo Global Management had made an all-cash offer of $26 billion to acquire Paramount, which was turned down. Redstone is seeking to sell the company, as it is in talks about being acquired by Warner Bros Discovery. Paramount's ( NASDAQ:PARA ) parent company, MTV, and CBS have a market capitalization of nearly $10 billion and approximately $13 billion in net debt. Technical Outlook Paramount Global ( NASDAQ:PARA ) shares are trading below the 200-day Moving Average (MA) with a Relative Strength Index (RSI) of 54.72 indicating sellers sentiment.
NASDAQ:PARA
by DEXWireNews
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Apollo's Set to Acquire Paramount' Pictures for $11 BillionIn a move that sent shockwaves through the entertainment industry, private equity firm Apollo Global Management has reportedly tabled an eye-watering $11 billion offer for Paramount Global's coveted film studio, Paramount Pictures ( NASDAQ:PARA ). This bid, shrouded in intrigue and speculation, adds another layer of complexity to the ongoing saga surrounding the media conglomerate's future. Market Reaction and Speculation Paramount's shares surged by a staggering 11.8% following the revelation, underscoring the market's keen interest in the potential acquisition. Apollo's approach comes amid a flurry of takeover interest in Paramount, with reports suggesting that the private equity giant had engaged with a special committee formed by the media conglomerate to explore various strategic options, including a possible takeover or asset purchases. Uncertainty and Industry Dynamics However, Paramount Global ( NASDAQ:PARA ) remains tight-lipped about the developments, declining to comment on the matter, while Apollo Global Management could not be immediately reached for clarification. The silence from both parties only serves to fuel speculation further, as industry observers eagerly await further developments in this unfolding drama.
NASDAQ:PARALong
by DEXWireNews
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