Sony Contemplates Making Offer to Acquire Paramount Global from Apollo

In the latest twist in the ongoing saga of Paramount Global’s potential sale, Sony Corp. has emerged as a new player in the negotiations. According to sources, Sony Pictures chief Tony Vinciquerra and other executives at Sony have been in talks with Apollo Global Management about a joint bid for the entertainment company.

Apollo had previously made a $26 billion offer for Paramount, but it was rejected. However, teaming up with Sony could address any cash or financing concerns. The potential deal would see Sony and Apollo taking Paramount private, with Sony owning a majority stake and Apollo as a minority owner.

The structure of the deal is still unclear, but it is believed that Paramount’s film and TV studios would complement Sony’s own studios. This move could raise questions about the future of Paramount+ and Paramount’s linear TV assets, including CBS, due to federal regulations on foreign ownership of U.S. broadcast stations.

Meanwhile, talks between Paramount and Skydance, led by David Ellison, are ongoing. Skydance has outlined plans to improve operating efficiencies and utilize the expertise of both companies’ executive teams to revitalize Paramount. Despite some investors expressing disappointment over not pursuing the Apollo deal, Paramount’s shares rose in after-hours trading following reports of the new developments.

Both Sony and Apollo have declined to comment on the reports, as the exclusive negotiating window with Paramount Global is still in place. The entertainment industry is eagerly watching to see how this potential partnership could reshape the landscape of Hollywood.