Paramount in exclusive merger talks with production company Skydance. American media company which owns the CBS and MTV channels has rejected a $26 billion takeover offer from investment firm Apollo.
Paramount shares, which own the American channelsCBS and MTV, jumped 15% on Wall Street on Wednesday. Netflix is notably among those having expressed interest in the company, which launched its streaming platform in March 2021, with 63 million subscribers at the end of September. The media company controls the CBS, MTV, Nickelodeon and Comedy Central channels, as well as the Paramount film and television studio.