Private equity firms circle Peloton for potential buyout

Private equity firms are showing interest in potentially buying out Peloton, a connected fitness company that has faced financial difficulties, including 13 consecutive quarters of losses. Discussions have focused on reducing operating expenses to make a buyout feasible. Recently, Peloton's CEO Barry McCarthy stepped down, and the company announced a 15% staff reduction along with a restructuring plan aimed at cutting costs by over $200 million by fiscal 2025. Despite soaring shares following these announcements, there is no certainty that a buyout will occur, and Peloton may remain public.