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APO - Paramount Potential M&A: Warner Bros. Discovery Skydance Apollo - Oh My!
Apollo Global Management LLC Class A Representing Class A Limitied Liability Company Interests
2024-01-22 14:58:02 ET
Summary
There has been a whirlwind of information surrounding the potential M&A of both PARA and the Redstone family holding company, National Amusements.
It has become clearer with recent developments, that National Amusements likely needs to restructure its debt.
A merger with WBD seems unlikely as it doesn't solve any of Redstone's problems at the National Amusements level and is a questionable sell to shareholders and management.
Apollo or Skydance taking control at the National Amusements level could force a rerating of PARA shares if the offers represent a premium over the current market price of PARA.