The American investment company Apollo offered 11 billion dollars to buy Paramount studios, the Wall Street Journal wrote on Wednesday, citing unidentified sources close to the matter, citing AFP.

“Apollo’s offer exceeds Paramount Global’s total market capitalization, which currently stands at about $7.7 billion,” the WSJ noted.

After the WSJ published this information, shares of Paramount Global ended Wednesday’s trading session on the New York Stock Exchange up 11.80%, and shares of Apollo – up 1.72%.

Paramount Global declined to comment when contacted by AFP, while Apollo did not respond.

The American Financial Daily notes that the proposal comes as an independent committee made up of Paramount Global executives is studying a larger project initiated by Skydance Media.

The WSJ notes that Skydance Media wants to merge with the entire Paramount group (CBS, Nickelodeon, studios, etc.).

The paper notes that Skydance presented its plan to National Amusements, Paramount’s parent company controlled by Shari Redstone, a holding company that controls nearly 80% of Paramount’s voting stock.

American media mogul Byron Allen has also made a $14.3 billion offer for Paramount Global, but after taking into account debt, the deal would be worth about $30 billion, the carrier told AFP on January 31. According to Allen Media Group.

A comedian and actor by birth, the 62-year-old African-American built a television media group from scratch in an environment where black executives were severely underrepresented in decision-making circles.

His biggest asset to date is The Weather Channel, for which he paid $300 million in 2018.

Perceived as the smallest of the big players in television and streaming, Paramount Global has been coveted for months.

Its streaming platform, which launched in March 2021, had 63 million subscribers at the end of September.

Formerly known as ViacomCBS, the media company controls CBS, MTV, Nickelodeon and Comedy Central, as well as the Paramount film and television studio.