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May 8, 2024

Sony and Apollo send letter expressing interest in $26B Paramount buyout as company considers Skydance bid

Sony and Apollo Global Management Inc. have formally expressed their interest in a potential acquisition of Paramount Pictures worth $26 billion. This comes as the company is mulling over a bid by Skydance Media. The communication from Sony and Apollo indicates their intent to partake in the ongoing discussions surrounding the potential sale of Paramount. This could potentially ignite a bidding war between Sony, Apollo, and Skydance for the purchase of the iconic film studio. The outcome is still uncertain as consideration of all bids is still underway.