Sony Make a 26 Billion All in Cash offer to Paramount

The Wall Street Journal reports today that Sony Pictures and the investment company Apollo Global Management have made an all-cash offer of $26 billion to buy Paramount Global.

A "nonbinding expression of interest" letter was sent by Sony and Apollo this week, according to the New York Times. According to the New York Times, it would give Sony a large majority of shares and power over the company. Apollo would have a small minority stake.


Last month, it was first said that Sony and Apollo were talking about putting in a joint bid to buy the company. The Wall Street Journal says that an offer letter was sent today and was signed by Aaron Sobel, a partner at Apollo, and Tony Vinciquerra, CEO of Sony Pictures.