Apollo Global (APO) and Sony‘s (SONY) bid to buy Paramount Global (PARA) will have to deal with Democratic-led federal regulators amid antitrust concerns, Josh Kosman of The New York Post reports. Apollo and Sony will have to fight to circumvent the Federal Communications Commission’s, FCC, 39% cap on the reach by local affiliates if the merger is approved by Paramount board, sources told the Post. Paramount’s local stations currently account for a 39% reach, so the total of the combined company would be well over the threshold, a banker told the Post.
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