Apollo Global Management’s attempt to buy Paramount might involve Sony Pictures Entertainment as a partner.
According to TheWrap, Sony Pictures has been in discussions with Apollo about teaming up to buy the Melrose studio, following Apollo's $26 billion solo bid to buy the company.
If the offer is accepted, Sony is expected to add Paramount to its list of labels, which already includes Columbia Pictures, TriStar, and Stage6.
The joint bid will only be made after the 30-day exclusive negotiation period between Paramount and Skydance ends on May 3. Skydance's proposal, backed by investors like Oracle cofounder Larry Ellison, RedBird Capital Partners, and KKR, would give control of Paramount to the media through Shari Redstone’s National Amusements.
As TheWrap This was reported earlier on Thursday, Paramount and Skydance are not expected to finalize a deal before the exclusive window ends, but talks are still progressing. The Skydance deal has faced opposition from shareholders, some of whom may take legal action if Redstone doesn't consider the Apollo bid.
Sony Pictures representatives declined to provide a comment. This potential joint bid was first reported by The New York Times.
