May 9, 12:10 AM

Sony, Apollo's $26B Bid for Paramount Includes Breakup, Melrose Lot Sale

Sony Pictures and private equity firm Apollo Global Management have made a joint offer of $26 billion to acquire Paramount Global. The deal, which follows the lapse of Paramount's exclusive negotiations with Skydance Media, includes plans to break up the company if successful. The proposed restructuring would involve selling off CBS and other cable channels like MTV, as well as Paramount+, while retaining Paramount Pictures. Paramount is in talks about opening its books to Sony and Apollo, and Sony also plans to sell the historic Melrose lot if the acquisition is successful. This acquisition could face regulatory hurdles, including potential antitrust challenges from federal authorities.