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Shari’s Apollo Landing & Trump Coupon Murmurs

News and notes on the latest intrigue among the Sconset set: the next steps in the Apollo-Paramount foreplay and whether Donald Trump can get his money.

shari redstone
Apollo’s $11 billion offer has left Shari and her board with a difficult Sophie’s Choice situation. Photo: Bryan Bedder/Getty Images for The New York Times
William D. Cohan
March 24, 2024

Last week, as my faithful readers know, Apollo Global Management, the asset-management behemoth, sent a letter to Paramount Global C.E.O. Bob Bakish and the company’s board of directors offering $11 billion for its movie studio and TV production facilities. As my partner Matt Belloni reported on Thursday evening, the Apollo bid includes Legendary, another Hollywood production company in which Apollo has a large minority stake, complete with favorable governance and control provisions, with the intention, perhaps, of combining the two studios and reaping the various synergies.