03:20 PM EDT, 03/20/2024 (MT Newswires) -- (Updates with Paramount's response in the third paragraph)

Apollo Global Management ( APO ) has made an $11 billion bid to acquire Paramount Global's ( PARAA ) film and TV studio, The Wall Street Journal reported Wednesday, citing people familiar with the matter.

The bid comes as an independent committee at Paramount Global ( PARAA ) considers merging the business with Skydance Media, the report said.

Paramount declined comment to MT Newswires.

Apollo did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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