Paramount discusses entering into exclusive talks with Skydance, NYT reports

Paramount has been discussing entering into exclusive talks with media company Skydance for a potential deal, The New York Times’ Lauren Hirsch and Benjamin Mullin reported on Tuesday, citing four people with knowledge of the discussions. While Apollo (APO) has submitted an $11B offer to buy Paramount’s movie studio, Paramount’s board is seeking a deal for the entire company rather than pieces. Two people familiar with the situation say Apollo is continuing to evaluate what proposal might most appeal to the company’s board. Meanwhile, David Ellison, the founder of the Skydance media company, met with Paramount’s board of directors late last month to discuss the deal, The Times says.