Paramount on the Block

Spiderverse + Star Trek universe movie franchise incoming.

Oh god, not Sony. Their movies suh-huh-huh-huck.

Microsoft should buy it. Then they can finally let Todd make Star Trek.

Huh, that’s interesting. I hadn’t heard of Apollo Global Management Group before, and wondered if they were like an '80s and '90s throwback to talent agencies specializing in package deals with clients.

Turns out I probably should have heard of them. They’re a sprawling private equity/alternative asset firm specializing in manufacturing red flags.

I mean, they’re probably fine, but they’ve snapped up so many companies in so many industries, from media and entertainment to shitty education to capital and retirement fund management to energy to one of the successors to the Blackrock mercenary outfit, that I could easily imagine them fitting into the Shadowrun universe.

Maybe not.

Insiders tell Variety that the expectation at the company is that neither of the two offers in play — Skydance Media-RedBird Capital Partners and Sony Pictures Entertainment-Apollo Global Management — will come to fruition. And Redstone is said to have reluctantly concluded that a deal with David Ellison’s Skydance, a longtime partner of Paramount Pictures, will not be possible.

As of Friday morning, the special committee established by Paramount Global’s board to evaluate M&A proposals had not notified Skydance one way or the other about its best and final offer, which would involve Skydance acquiring Redstone’s National Amusements Inc. and merging Skydance and Paramount Global, per a source familiar with the talks. The exclusive negotiating window between Skydance and the Paramount Global board’s special committee established to review M&A offers is set to expire at midnight Friday.

Jeez, what a mess.

Yay? As a Star Trek fan, I think this is the best outcome? Status quo is good right?

Well, they’re probably going to start selling themselves piecemeal so … who knows?

Saudi Sovereign Wealth Fund incoming in 5, 4, 3…

Those three fellas around Shari are a trio of co-CEOs.

George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, president and CEO of Paramount Pictures and Nickelodeon will combine to lead what Paramount is calling “the office of the CEO.”

What does it mean when only two of the co-CEOs wear matching suits?