A bid from Sony Pictures Entertainment and Apollo Global Management to acquire Paramount gained steam late last week, according to a report in the New York Times.
The two companies, which have extended an offer of $26 billion, have signed nondisclosure agreements with Paramount, which will allow Sony and Apollo to review non public financial information, according to several anonymous sources, the Times said. Skydance, a rival suitor for Paramount, has already inspected Paramount’s ledgers.
