Sony and Apollo reportedly make $26bn offer for Paramount

Sony Pictures and Apollo Global Management have proposed a $26 billion acquisition of Paramount Global, causing a significant 12% rise in Paramount's share price. The offer, spearheaded by Sony's CEO and an Apollo partner, comes as Paramount, known for major films and media networks, faces challenges with streaming transitions and internal conflicts. This potential merger, which would unite two major Hollywood studios, is likely to draw scrutiny from the Biden administration amid its current focus on large-scale corporate mergers.