By With the Paramount and Skydance Media negotiating exclusivity window over, Sony Pictures Entertainment and Apollo Global Management have reportedly made an offer to buy Paramount Global according to The Wall Street Journal (via Variety).
The companies reportedly offered Paramount an all-cash buyout of $26 billion and would include the assumption of any debt. Such a deal would also make Paramount money with the company’s current valuation at $22 billion.
Paramount Global continues to evaluate a proposed merger with Skydance Media and how it will respond to Sony’s proposal is unknown at this time. A past effort from Apollo Global onits own was rejected.
The offer also arrives days after Bob Bakish was removed as CEO of Paramount Global, replaced by a group of senior executives.
A deal that would see Sony swallow Paramount would also bring what was the ‘Big Six’ studios at the turn of the millennium down to just four – Disney, Sony, Warners & Universal. Fox was the other one before it was officially acquired by Disney in 2019.
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