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The current leadership of Paramount Global presented a go-forward plan at the company's annual shareholder meeting Tuesday in the event a sale of the company doesn't happen.
TOKYO -- Sony Group stock climbed nearly 3% on Tuesday as speculation the electronics and media giant could acquire U.S. film studio Paramount Global faded, easing investor concerns over the cost of any such deal.
Paramount and Skydance have agreed to terms of a merger, CNBC's David Faber reported Monday. A deal could be announced in the coming days, he said.
Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter.
In what could easily be a plotline from HBO's hit show "Succession," Paramount Global plans to replace Chief Executive Officer Bob Bakish with a cohort of existing division heads on Monday, according to people familiar with the matter, in a chessboard-altering move designed to accelerate the company's future — one way or another.