Author and Puck writer Bill Cohan joins Matt Belloni to break down the latest in the Paramount bidding war. They begin by discussing Sony’s interest in joining Apollo Global Management’s bid for Paramount. They explain that Sony’s involvement would bring additional financial resources to the table and could potentially make the bid more attractive to Paramount’s board of directors. However, they also note that Sony’s involvement could raise antitrust concerns, as Sony already has a significant presence in the entertainment industry.
Next, Cohan and Belloni compare Sony’s bid to David Ellison’s Skydance Media bid. They explain that Skydance Media is a smaller company than Apollo Global Management, but it has a strong track record of producing successful films. They also note that Ellison has a personal relationship with Paramount CEO Jim Gianopulos, which could give him an edge in the bidding process.
Cohan and Belloni then explore how each bid would affect Paramount’s stockholders. They explain that Apollo Global Management’s bid is likely to be more lucrative for stockholders in the short term, as it would involve a higher upfront payment. However, they also note that Skydance Media’s bid could be more beneficial for stockholders in the long term, as it would give them a stake in a growing company.
Finally, Cohan and Belloni discuss which bid Shari Redstone, the controlling shareholder of Paramount, is likely to favor. They explain that Redstone has a close relationship with both Apollo Global Management and Skydance Media, so it is difficult to predict which bid she will ultimately support. However, they speculate that she may be more inclined to support Skydance Media’s bid, as it would give her a greater degree of control over Paramount.
Matt Belloni concludes the show with an opening weekend box office prediction for Challengers, a new film starring Zendaya and Mike Faist. He predicts that the film will open to around $10 million, which would be a solid start for a mid-budget film.
