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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APO:
- Apollo Global’s (NYSE:APO) CEO Explains the Interest in Paramount
- M&A News: Paramount (NASDAQ:PARA) Begins Talks With Sony and Apollo
- Buffett’s Holdings: Here’s What AAPL and PARA Investors Should Know
- Paramount ended Skydance exclusivity without deal, Reuters reports
- M&A News: Paramount (NASDAQ:PARA) Plummets after Skydance Deal Threatened