Apollo Global eyes Paramount Global, report claims

Yellowstone (Source: Paramount)

Former Endemol Shine Group owner Apollo Global is exploring acquiring assets from Paramount Global, according to a US report.

The future of the US studio has been swirling for months and US outlet Axios has now reported that private equity firm Apollo has “reached out” to Paramount to explore a potential deal.

It is unclear whether that would include picking up the entirety of Paramount Global or only selected assets. The news initially bumped up the share price around 5%, but the rally dwindled.

Apollo, which sold its stake in Endemol Shine Group to Banijay in 2019, is the latest private equity firm to be linked with a move for Paramount assets.

Paramount’s owner, National Amusements, has already reportedly explored a sale of the studio to US group Skydance and investment firm RedBird Capital Partners.

WBD’s chief David Zaslav and Paramount’s Bob Bakish also met up in New York City late last year to discuss a potential merger but reports in February claimed that those talks had come to an end.