Sony is reportedly in talks with investment firm Apollo Management about a bid for Paramount Global, the parent company of UK broadcaster Channel 5.
According to The New York Times, the Sony-Apollo joint bid would offer cash for shares of Paramount and take the company private.
This is despite Skydance Media currently being in talks to acquire Shari Redstone’s stake in the company. Redstone’s National Amusements owns 77 per cent of Paramount’s voting stock
Should Sony and Apollo enter talks to acquire the company, it’s thought Sony would be the majority owner.
Apollo has previously made a $26 billion offer for Paramount, inclusive of equity and debt, but it’s believed that was dismissed.
All of the parties have declined to comment on the reports.
There have been multiple reports of companies interested in Paramount. In late 2023, Warner Bros Discovery was said to be showing interest, while earlier this year Paramount was believed to be the subject of a $30 billion takeover bid from Allen Media Group (AMG). Neither of the bids progressed to the official talks phase.
