Paramount Up For Sale? Would Make Sense
Fox Business reports that bankers are swirling over a sale, or potential divestment, from one of Hollywood's iconic studios. CEO Bob Bakish has hinted before about a deal -- is he serious this time?
Wall Street bankers are salivating at the thought of a major Hollywood media empire being put up for sale.
Paramount, the entertainment conglomerate behind television stalwart CBS and a movie machine that banked big money on flicks like Top Gun, may be looking to unload all or part of the company in what would be a blockbuster deal, according to Charlie Gasparino of Fox Business, who has close sources within New York’s biggest financial players.
Any acquisition interest in the studio would come months after Chief Executive Officer Bob Bakish hinted last March that he would entertain deal talks. Gasparino’s sources say it could be a full offer for the company that now has an $11 billion market value, or it could be selling off chunks of the company that are underperforming or not in line with their mission.
Bob Iger, who Disney brought back to the CEO chair to help the ailing company recover from COVID-related disruptions, just told CNBC that he’s considering selling prized-asset network ABC. Over at NBCUniversal, the content powerhouse owned by cable operator Comcast, the same discussions are said to be happening as the entertainment giant reorganizes its C-Suite.