Sony And Apollo Global Offer $26 Bln To Privatize Paramount : Reports

(RTTNews) - Sony Pictures Entertainment, affiliated to Japanese conglomerate Sony Group Corp., and Apollo Global Management have proposed a $26 billion all-cash buyout offer to take entertainment giant Paramount private, reports said citing people familiar with the matter.

The reported bid comes as Paramount Global board's special committee established to consider proposals is evaluating the best and final offer from David Ellison's Skydance Media to merge Paramount and Skydance, while keeping Paramount Global public.

The exclusive negotiations between Paramount's board and Ellison are set to conclude on Friday.

In December last year, there were reports that Warner Bros. Discovery Inc. and Paramount Global had held talks about a potential merger of the two media companies.