Sony and Apollo send letter expressing interest in $26B Paramount buyout as company considers Skydance bid

Sony Pictures and Apollo Global Management have issued a letter to ViacomCBS expressing their interest in purchasing Paramount Pictures, in a deal that could potentially be worth around $26 billion. The letter confirms rumors of potential buyers for the renowned movie studio.

This move comes as ViacomCBS has been considering a bid from Skydance Media, a well-known film and television studio. The proposed Skydance Media deal has, however, raised certain significant issues that have not been fully resolved.

While specifics about the letter and its content have not been publicly disclosed, noticing Sony’s and Apollo’s participation in the bidding wars signals that Paramount Pictures is drawing attention from significant players in the media industry. Sony and Apollo’s interest could potentially push the value of the bids higher.

However, it’s not certain if ViacomCBS is willing to sell Paramount Pictures, as these discussions are in the early stages and could ultimately result in no deal.

Please note that this is an ongoing situation, so all the details are subject to change as the negotiations continue.

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