Source Says Apollo Has Offered $11 Billion for Paramount’s Hollywood Studio

Private equity firm Apollo Global Management has offered $11 billion for Paramount Global’s Paramount Pictures film studio, a person with knowledge of the offer said on Wednesday, adding to takeover interest in the media conglomerate.

The film studio is considered the jewel of the Paramount media conglomerate, with an expansive movie library that includes classics such as “The Godfather” and “Breakfast at Tiffany’s,” as well as blockbuster franchises like “Mission: Impossible,” “Star Trek” and “Transformers.” It has attracted interest from many suitors over the years, including recently.

Shari Redstone, the media conglomerate’s controlling shareholder through her stake in parent company National Amusements, has been reluctant to part with the studio that her father, the late Sumner Redstone, acquired in 1994.

Read the source article at Yahoo Finance