Sony Pictures Entertainment (SPE) and Apollo Global Management have made a $26 billion money provide for Paramount Global, the Wall Street Journal reported.
The two firms submitted the non-binding provide letter on Wednesday, signed by Sony Pictures Chief Executive Tony Vinciquerra and Apollo associate Aaron Sobel, stated the WSJ, citing folks acquainted with the matter.
Reuters reported earlier in April that Sony’s SPE and Apollo have been in talks to make a joint bid for Paramount.
SPE, Apollo and Paramount didn’t instantly reply to Reuters requests for remark.
Paramount is in unique talks with Skydance Media and is working to construct its streaming business because it faces robust competitors from Netflix and Walt Disney as viewership of cable TV declines.
SPE, a subsidiary of Tokyo-based Sony Group Corporation, says its operations span film and tv manufacturing, acquisition and distribution, digital content material creation and distribution, studio facility operation and the event of latest leisure merchandise, companies and applied sciences.
Source: www.anews.com.tr
