Sony and Apollo Propose $26 Billion Bid for Paramount

Reports have emerged that Sony Group and Apollo Global Management have presented a $26 billion all-cash bid to acquire Paramount Global, the parent company of CBS and MTV. This offer encompasses both the shares of Paramount and its outstanding debts.

Currently, Paramount is managed by Shari Redstone, who is also evaluating a merger offer from David Ellison, CEO of Skydance Media and son of Oracle Corporation co-founder Larry Ellison.

In a separate development, Huawei Technologies, the Chinese technology firm blacklisted by the U.S. government, is reportedly funding research at American universities like Harvard through a Washington-based independent foundation.

Huawei Funds Global Research Despite U.S. University Bans, Turkey Halts Trade with Israel, Rue21 Files for Bankruptcy

Huawei’s research competition, launched in 2022, continues to fund scientific innovation worldwide, distributing millions to numerous global proposals despite a lack of participation from top U.S. universities, which have prohibited their researchers from working with the tech giant due to security concerns.

Even so, the competition has drawn a significant number of entries from scientists affiliated with these institutions.

Turkey has taken a drastic step in its international trade policies by halting all commerce with Israel. This decision by the Turkish Trade Ministry extends previous restrictions on certain exports and aims to pressure Israel to ensure a steady stream of humanitarian aid to Gaza amidst escalating tensions in Palestine.

• Huawei’s competition attracts global scientific proposals.
• Turkey suspends trade with Israel to advocate for Palestinian aid.
• Teen clothing retailer rue21 files for bankruptcy, plans to close stores.

In the retail sector, rue21, a clothing brand popular among teenagers, has declared bankruptcy for the third time and plans to liquidate its assets. The bankruptcy filing occurred in Delaware, with the company citing assets and liabilities ranging between $100 million and $500 million.

Blue Torch Capital holds the majority stake in rue21, which is now preparing to shutter its store operations, underscoring the ongoing challenges facing mall-based retailers.