A new article in the New York Times states that Sony Picture Entertainment is in talks with investment firm Apollo Global Management, according to two sources.
Apollo previously made an offer to buy Paramount for at least $26 billion, and that offer was rejected.
The terms of the offer are still being discussed, and quite it is possible that they will not become known officially. According to anonymous sources, a formal offer cannot be made at this time as Paramount is in exclusive negotiations with Skydance. Skydance's proposed deal appears to have generated significant response from investors.
The implications of such an acquisition could be potentially huge. For starters, it will bring the Sonic and Halo adaptations into the platform owner's growing media empire, PlayStation. Following this news, Paramount shares rose 11% on the secondary market.
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Cover author: Paramount. Cover source: PushSquare