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MultiChoice On The Closure Of Me And 1Magic On DStv: "Newer And Fresher Content As Well As Existing Shows Will Be Available On The Remaining M-Net Channels"
Apollo Global Management Also Looking To Acquire Paramount Global
The company faces competition, including a bid from Byron Allen, who in January offered to buy Paramount Global for $14 billion. The entertainment conglomerate’s parent, National Amusements, has also gotten an offer from David Ellison’s Skydance Media in a bid that was backed by rival private equity firms RedBird Capital Partners and KKR.
Warner Bros. Discovery also reportedly considered buying some or all of the entertainment conglomerate’s assets, but backed off last month.
The report said Apollo is looking at a deal only with Paramount, which would involve Paramount Pictures, the CBS network, along with Comedy Central, BET and other Viacom cable networks and the streaming services Paramount+ and PlutoTV.
“It’s also possible that Apollo could wind up bidding only on select assets,” Axios reported, citing two sources familiar with the matter.
Shares of Paramount Global initially jumped about 5% on the report, but the gains quickly disappeared. The stock was trading down 5 cents to 11.57, down nearly 20% since the start of the year, in late morning.
Apollo has long invested in news and entertainment companies, including purchasing “American Idol” owner CKx in 2011. It also has or previously held interests in Barnes & Noble, Cox Media Group, Legendary Entertainment, Redbox, Sirius Satellite Radio. It also bought Yahoo Inc. from Verizon in 2021.
Developing Story: MultiChoice Bids Farewell To Both M-Net Essentials (Me) And 1Magic On DStv By The End Of March
Reminder: New Heroes Will Be Made With The Debut Of Pokémon Horizons On Cartoon Network Across Africa
New Channel Alert: ST Toons Coming Soon To StarTimes Platforms Across Africa Later This Month
News Shorts: Warner TV To Rollout As A Free-To-Air Channel In The Czech Republic, Come Back To Me To Rollout On Telemundo Across Africa And Historical Drama We Were The Lucky Ones To Stream On Disney+ In April
Warner TV expands to other parts of Europe