Sony and Apollo propose $26 bln Paramount offer
- Sony Pictures Entertainment and Apollo Global Management have made a $26 billion cash offer for movie group Paramount Global, the Wall Street Journal reported.
SPE would hold a majority stake in the venture, a source previously told Reuters, and operate Paramount, whose movie library spans "Star Trek", "Mission: Impossible" and "Indiana Jones", alongside TV characters like SpongeBob SquarePants. Shari Redstone's media empire replaced its CEO Bob Bakish with a trio of executives on Monday, while four independent members of Paramount board are set to step down at the company's annual shareholder meeting on June 4.
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