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Jon Lafayette

Paramount Stock Jumps on Report of $11 Billion Apollo Bid for Studios

Paramount Apollo Shari Redstone Sumner Redstone
Paramount studio gate in Los Angeles.

Paramount Global stock rose 8% in afternoon trading on reports that Apollo Global Management had offered $11 billion to buy the media company's TV and film studios.

Paramount has been the subject of takeover speculation for weeks. Media entrepreneur Byron Allen said he offered $30 billion for all of Paramount in January and Skydance Media reportedly proposed a merger.

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