Apollo Bids $11 Billion to Buy Paramount, Oscars Draw 21 Million Viewers and Music Artists Still Struggle With Low Payouts

Plus: UFC owner reaches $335 Million settlement with fighters, LA Dodgers fire Shohei Ohtani interpreter and Producer Avi Arad denounces Chuck Schumer’s Israel speech [Paramount logo]( [Apollo Global Management Bids $11 Billion to Buy Paramount]( By Kristen Lopez and Lucas Manfredi Apollo Global Management has put in a bid of $11 billion to buy Paramount’s film and TV studios, according to The Wall Street Journal. The offer comes after the private equity firm reportedly reached out to a special board committee at the media conglomerate earlier this month about a possible buyout or purchase of some of Paramount Global’s assets, which include CBS, Paramount Pictures, Paramount+ and cable networks like MTV and Nickelodeon. [Read More]( --------------------------------------------------------------- [Oscars 2024 Draw 21 Million Viewers Across ABC, Hulu, Digital Platforms]( By Lucas Manfredi The 96th Academy Awards telecast drew 21.01 million total viewers after seven days of viewing on ABC, Hulu and digital platforms, according to Nielsen and internal data. [Read More]( --------------------------------------------------------------- [Spotify and music streams]( [Spotify and Penny Per Stream Royalties: Is the Cure Worse for Artists Than the Disease?]( By Peter Csathy Spotify just reported that it paid out $9 billion in artist royalties in 2023 — an impressive number to be sure, but one that still fails to satisfy artists frustrated by long-standing sub-$.01 per stream royalty rates that many in the music industry believe devalues music. It was Steve Jobs two decades ago who essentially framed music streaming’s fundamental economics when he set the price to download Apple’s songs at $.99 and albums at $9.99, a steep discount from the $13-$19 cost of physical CDs at the time. The price level was meant to give consumers a legitimate alternative to Napster’s outright peer-to-peer (P2P) theft. [Read More]( --------------------------------------------------------------- [A man with light-toned skin in a loose shirt and suit jacket, sitting with people behind him.]( [UFC Owner Reaches $335 Million Antitrust Settlement With Fighters]( [LA Dodgers Fire Shohei Ohtani Interpreter After MLB Star's Allegations of 'Massive' $4.5 Million Theft]( [Avi Arad and Chuck Schumer]( [Producer Avi Arad Denounces Chuck Schumer's Speech on Israel: 'It's Not Your War' | Exclusive]( [Don Lemon]( [Don Lemon Questions Why Elon Musk Fired Him But Is 'Not Complaining' About Tucker Carlson | Video]( --------------------------------------------------------------- [Wrap Pro logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](