Sony Pictures and Apollo Global Management have made a $26 billion cash offer for Paramount Global, according to published reports.
Shari Redstone, whose family investment company National Amusements owns a controlling voting interest in Paramount, has been pursuing a deal with Skydance Media, which would pay a premium for National Amusements.
The Skydance deal raised opposition among Paramount’s other shareholders and led to the departure of Paramount CEO Bob Bakish.
Paramount stock, which has bounced up and down amid reports of bids for the company, jumped 12% Thursday on news of the new bid from Apollo and Sony.
A Paramount spokesman said the company wasn't commenting.
