Sony Discussing Paramount Purchase  

Although Paramount is in exclusive merger talks with Skydance, the firm and Apollo Global Management are exploring a joint effort.  

Paramount, home to “Top Gun” and “SpongeBob SquarePants,” is in talks to merge with Skydance. A new suitor has surfaced.  

Sony Pictures Entertainment and Apollo Global Management, an investment group, have discussed a joint proposal to acquire Paramount, two sources said Thursday.  

The people, who requested anonymity to discuss sensitive negotiations, said Paramount is still in exclusive talks ,  

with Skydance and has not placed an official bid. Investors are opposed to the Skydance deal.  

Apollo approached Paramount about buying it for $26 billion, including debt. Despite Apollo's finance concerns,   

Paramount's board continued its advanced talks with Skydance. A combination proposal with Sony would likely alleviate such concerns by adding operational experience and capital to Apollo's war fund.  

Sony Pictures Entertainment CEO Tony Vinciquerra has discussed partnering with Apollo in the previous week, according to sources.   

Paramount would be taken private through a joint venture with an all-cash offer for its equity.  

One person said Sony and Apollo may not give Paramount because the combined bid details are still being worked out.  

Apollo might own a minority part in the joint venture, while Sony would run it. Apollo may sell its shareholding to Sony.  

Sony would likely operate Paramount as a label within its media empire, combining its marketing and distribution arm with its own if it won. CBS, one of Paramount's crown jewels, and Paramount's dwindling cable channels may fit into the united firm.  

Paramount's parent company, National Amusements, has approved a transaction with Skydance, owned by tech scion and Hollywood executive David Ellison.   

Shari Redstone, who controls National Amusements, has created an independent board adviser committee to evaluate Skydance's bid. Several investors objected to Skydance's offer to give Ms. Redstone cash and Paramount shareholders stock in a new business.  

Thanks For Watching

Justin Bieber’s 10 Biggest Hot 100 Hits, From ‘Baby’ to ‘Peaches’