Sony and Apollo submit $26 bln Paramount offer, WSJ reports [Reuters]
Sony Group Corporation American Depositary Shares (SONY)
Company Research
Source: Reuters
The two companies submitted the non-binding offer letter on Wednesday, signed by Sony Pictures Chief Executive Tony Vinciquerra and Apollo partner Aaron Sobel, said the WSJ, citing people familiar with the matter. Reuters earlier in April that Sony's SPE and Apollo were in talks to make a joint bid for Paramount. SPE, Apollo and Paramount did not immediately respond to Reuters requests for comment. Paramount is in exclusive with Skydance Media and is working to build its streaming business as it faces tough competition from Netflix and Walt Disney as viewership of cable TV declines. SPE, a subsidiary of Tokyo-based Sony Group Corporation, says its operations span movie and television production, acquisition and distribution, digital content creation and distribution, studio facility operation and the development of new entertainment products, services and technologies. Coming soon: Get the latest news and expert analysis about the state of the global economy with Reuters Ec
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SONY
News
- Sony and Apollo Take Key Step in Bid for Paramount’s Assets [The New York Times]The New York Times
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SONY
Earnings
- 5/15/24 - Beat
SONY
Sec Filings
- 5/14/24 - Form 6-K
- 5/14/24 - Form 6-K
- 5/14/24 - Form 6-K
- SONY's page on the SEC website