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According to the Wall Street Journal, American investment company Apollo has made an $11 billion offer to acquire Paramount Pictures. Paramount has long been pursuing acquisitions, with streaming TV giant Netflix and others showing interest in its movie business.
Apollo’s offer exceeds Paramount Universal’s market value of $7.7 billion. Paramount Universal and Apollo declined to comment. Paramount Universal’s shares ended the official trading day up nearly 12% at $12.51.
(Source: AFP Image source: Unsplash)
