Sony Group Corp. (NYSE: SONY) and Apollo (NYSE: APO) made a $26 billion proposal to buy Paramount Global (Nasdaq: PARA), the media giant that owns CBS and MTV, according to people with knowledge of the matter.
The offer from Apollo and Sony was described as a non-binding expression of interest, said the people, who asked not to be identified discussing a preliminary proposal.
Paramount, which is controlled by Shari Redstone, has been weighing a merger proposal from David Ellison, the head of Skydance Media and son of Oracle Corp. (NYSE: ORCL)’s founder.
It’s the latest approach to Paramount by Apollo, a private equity company.
