Sony Pictures and Apollo Global Management Express Interest in Acquiring Paramount for $26 Billion

Sony Pictures Entertainment and the private equity giant Apollo Global Management have officially stated their desire to acquire Paramount for approximately $26 billion, according to reliable sources. This development has injected further excitement into an already tumultuous deal-making process.

Nonbinding Expression of Interest

The nonbinding expression of interest was conveyed in a letter sent this week. It coincides with Paramount nearing the end of an exclusive negotiating period with Skydance, a Hollywood studio led by David Ellison, a prominent figure in the tech industry.

Proposed Acquisition Details

The joint expression of interest outlines Sony's intention to become a significant majority and controlling shareholder, with Apollo being a minority shareholder. The proposed acquisition, which would be an all-cash transaction, is poised to attract Paramount shareholders who have expressed reservations about the Skydance deal.

Impact on Shareholders

Concerns have been raised that the Skydance deal may disproportionately favor Paramount's controlling shareholder, Shari Redstone, at the expense of others with a stake in the company.

Paramount has refrained from providing immediate comments on this matter, indicating that more information might unfold as this story continues to develop.