Sony, Apollo express interest in buying Paramount in $26B deal, NYT reports

Sony Pictures Entertainment (SONY) and Apollo Global Management (APO) have formally expressed interest in acquiring Paramount (PARA) for roughly $26B, two people familiar with the matter told The New York Times’ Benjamin Mullin and Lauren Hirsch. Paramount (PARA) has been exploring a potential deal for months, talking to suitors including Skydance, and the nonbinding expression of interest, sent in a letter this week, from Sony and Apollo “adds drama to an already chaotic deal making process,” the report said.