Apollo Global Offered $27 Billion For All Of Paramount Global But The Bid Was Rejected

Private-equity giant Apollo Global Management made a $27 billion offer to acquire all of Paramount Global this week, sources familiar with the bid told the media. However, the special committee set up by the Paramount Global board of directors to consider M&A options declined to engage with the bid.

Apollo submitted an all-cash bid on Sunday, March 31, to acquire Paramount Global in a deal worth more than $27 billion of total enterprise value, encompassing equity and debt, according to people familiar with the situation. That came after Apollo had offered $11 billion to buy Paramount Pictures alone, a bid that was also rebuffed by Paramount’s committee. Shari Redstone is Paramount’s controlling shareholder and president of National Amusements Inc., its parent company. But given the potential conflict of interest, Redstone is not a member of the board’s special committee.

NAI, Paramount Global and Apollo have declined to comment on the M&A talks.

Word of Apollo Global’s new bid for Paramount Global comes as Redstone entered into an exclusive negotiating period with David Ellison’s Skydance Media to sell her stake in National Amusements Inc. (and thereby pave the way for Skydance to merge with Paramount Global). NAI holds 77% of the voting shares in Paramount Global.

Redstone’s preference is for Paramount Global be sold as a whole, not in pieces. It’s not clear why the media company’s special committee would have not considered Apollo’s $27 billion bid for the entire company.

It was reported Tuesday that Redstone and Skydance were close to establishing 30-day window for exclusive deal talks after months of discussions. NAI and Skydance have now entered into a provisional agreement covering such exclusive negotiations, likely with a basic outline of potential deal terms, according to sources.

Paramount Global’s market cap stood at $9.26 billion after the market closed Wednesday. The stock shot up 15% in the final hour of trading Wednesday amid a cascade of media reports that Redstone, National Amusements Inc. and Skydance are moving closer to a deal. Shares closed at $13.52.

Paramount Global’s assets include Paramount Pictures; the CBS network and owned local stations; cable networks including Comedy Central, BET, MTV and Nickelodeon; and the direct-to-streaming business housing Paramount+ and Pluto TV.

Development Alert: Parliament TV Channel On DStv Might Be Getting The HD Treatment

Parliament TV had been operating on MultiChoice's DStv providing coverage of important parliamentary proceedings and other festivities. This serves as a underscoring and their commitment to supporting parliamentary transparency.

As seen later in the week, MultiChoice had closed 1Magic and Me as further content had been folded under 1Max. Applicable to consumers in South Africa, it serves as a promotional channel for Showmax with a mixture of local and international content.

With channel 115 vacated, MultiChoice had removed the HD feed from Me and replaced it with Parliament TV. Taking to account the current feed is only SD its likely that they're looking to align them with eNCA and SABC News whose feeds have been HD.

Other channels that have since then been going through similar tests and awaiting an upgrade include Disney Channel (since 2023) and TBN (since 2022).

In other developments, MultiChoice had sent notifications to consumers over the closure of WildEarth. After multiple failed attempts by the channel to secure payment for their carriage on DStv had opted to take their channel off air by the end of April. 

DStv Channel Changes From 01 January 2023 To 31 March 2024

2023 had proven to be the least productive year in terms of channel additions as opposed to terminations as MultiChoice continues to review their slate of content and explore other means of keeping viewers entertained.

DStv Access experienced the most wins during this period in terms of expansions as the pay-tv company allocated channels such as E! Entertainment, Trace Urban, WildEarth, ESPN 1 SuperSport La Liga, SuperSport Schools and Ignition TV.

They continued their winning streak with new additions Play Room and Zee Zonke.

DStv Easyview didn't get that much limelight as seen in the previous financial period with Magic Showcase and BBC UKTV. However, they were very much present in the new channel circuit with the now defunct brands, NWTV and One Freestate Televisual. 

Consumers leaning toward the Family and Compact Plus tile had recieved the least amount of attention in the current financial period:

• DStv Family only got BBC Lifestyle after being made exclusive to Compact.

• DStv Compact+ welcomed a new channel Qwest TV from multi award-winning artist Quincy Jones.

DStv Compact consumers were the most "fortunate" amongst top to mid tier households. Although no new channels were reported, MultiChoice had extended the reach BBC UKTV which now serves 12 million households in Africa alongside ESPN 2.

Premium households continue to inherit nothing as the market for this audience declines with the last additions dating back to September 2020 with a full-time fliekNET channel and more sports channels. 

Terminations from this period range from channels like Maisha Magic Movies, HONEY, Da Vinci Kids, Deutsche Welle (DW), Emmanuel TV, B4U Movies, People's Weather, NWTV, One Freestate Televisual, Ginx eSports TV, 1Magic and Me:

• DStv Easyview would have lost 4 channels which is the most channels for any package: People's Weather, NWTV, One Freestate Televisual and Emmanuel TV. 

• DStv Access would have come in second with 3 channels: HONEY, Deutsche Welle (DW) and Da Vinci Kids. 

• DStv Compact would come in third with two channels: Ginx eSports TV and Maisha Magic Movies. 

• Other packages would have lost only one channel: 1Magic, Me and B4U Movies. 

Below we present a roundup of 2023 with various developments that took place and beside it the package.

Expansions

ESPN 1 - Compact to Access

WildEarth - Family to Access

Trace Urban - Family to Access

E! Entertainment - Compact to Access

Ignition - Family to Access

BBC UKTV - Easyview to Compact

ESPN 2 - Compact+ to Compact

BBC Lifestyle - Compact to Family

SuperSport Schools - DStv Stream to Decoder (excluding Easyview)

SuperSport La Liga - Family to Access

New channels

Qwest TV - Compact+

Zee Zonke - Access

* One Freestate Televisual - Easyview

Play Room - Access

* NWTV - Easyview

* means channel closed 

Termination

HONEY - Access

Maisha Magic Movies - Compact

Da Vinci Kids - Access

Emmanuel TV - Easyview

1Magic - Compact+

Me - Family

One Freestate Televisual - Easyview

B4U Movies - AddMovies

People's Weather - Easyview 

NWTV - Easyview

Deutsche Welle (DW) - Portuguese

Ginx eSports TV - Compact 

New Series Alert: A Lot Can Happen Over Coffee, A Telegu Based Series Debuts On Zee One This Month

Last month, it was reported that Star Life will be rolling out two new shows in the coming weeks, Beyond Life and Evil Affairs. Now Zee One is also looking to debut show in the month with a new Telegu drama, A Lot Can Happen Over Coffee (Rajeswari Vilas Coffee Club).

A Lot Can Happen Over Coffee depicts the story of Rajeshwari, a compassionate cook aspiring to keep her mother’s hotel thriving, challenges Rudra, an elite chef when he decides to usurp her hotel to grow his premium food business.

It starred Likitha as Rajeshwari, Rudra Nelakanta as Akarsh, Vishwamohan as Viswanatham, Sheelasingh as Kamakshi and Prasad as Subbarao. 

Produced by Indian broadcaster Zee Telegu, A Lot Can Happen Over Coffee debuted sometime in 2022 with 398 episodes having being filmed so far. It serves as an ongoing drama at the moment as seen with other Zee TV series like Twist Of Fate and Radha Mohan.

A Lot Can Happen Over Coffee will replace My New Mother In Law on Zee One from 7 April. Prior to this, the pay-tv version of the channel Zee World will rollout a new female led drama Sister Wives not to be mistaken with the reality show from TLC. 

News Shorts: Alice's Wonderland Bakery Cancelled On Disney Junior After Two Seasons And The Iron Heart To Rollout On Novela E Plus Alongside A Rebroadcast Of Betty In New York On Telemundo

Disney axes another program 

Back in 2022, Disney announced a brand new animated series for preschoolers and their families called “Alice’s Wonderland Bakery” that was inspired by the beloved world of “Alice in Wonderland.” The series debuted in 2022, with a second season renewal coming shortly after its premiere.

Centred on Alice, the great-granddaughter of the original heroine and a budding young baker at the enchanted Wonderland Bakery, each episode features two 11-minute stories about Alice’s recipe adventures with her best pals—Fergie, a white rabbit; Hattie, her madcap friend; and Rosa, the Princess of Hearts.

Disney has announced via the Disney Junior Instagram account, that the series finale of “Alice’s Wonderland Bakery” is going to air on the Disney Junior channel in the United States on April 15th 2024, indicating that the show is now coming to an end.

The Iron Heart debuts on Novela E Plus

Apollo Adelantar is an undercover agent who goes on a dangerous mission to bring down a crime ring name Altare unaware of his trusted friend when his two of his trusted allies becomes a enemy. Fueled by a bitter and painful past, Apollo and his allies face grueling tasks that will challenge his resolve and strength.

It starred Richard Gutierrez as Apollo "Pol" Adelantar, Kyle Echarri as young Apollo, Albert Martinez as Engr. Priam dela Torre, Dimples Romana as Selene Larisa and Sue Ramirez as Venus Z. Magbanua.

The series will air daily on Novela E Plus at 18:50 from 6 April.

Telemundo loads up on repeats

Based on the 1999 Colombian telenovela Yo Soy Betty La Fea, the romantic comedy Betty In New York followed Beatriz Aurora Rincon Lozano as she embarks on a new journey in New York when she takes on a job as a secretary at V&M Fashion.

The series will air daily on Telemundo at 18:00 from 13 April.