Paramount Potential M&A: Warner Bros. Discovery, Skydance, Apollo – Oh My!

  • 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.


I recently covered Paramount Global (PARA, PARAA) in the beginning of December, speculating that Apple Inc. (AAPL) might be interested in acquiring the company, after a press release that the companies