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Sony, Apollo Propose $26 Billion Buyout of Paramount, Sony as Majority Owner

May 2, 2024, 05:51 PM

Sony Pictures and Apollo Global Management have jointly proposed an all-cash buyout of Paramount Global, valued at $26 billion. The offer, as reported by multiple sources including The Wall Street Journal and The New York Times, marks a significant move in the media industry, with Sony set to become the majority owner. Paramount, known for owning major networks like CBS and MTV, has been in discussions for potential acquisitions for months, with parties including Skydance Media, the producer of 'Top Gun: Maverick'. The deal, if successful, would require careful navigation of regulatory concerns, but Sony and Apollo are optimistic about managing these hurdles.