Sony Pictures Entertainment and Apollo Global Management have officially put in a bid for Paramount Global, as competition for the storied film and TV company continues to heat up. Sony and Apollo submitted their $26-billion all-cash offer this week, according to a person familiar with the matter who was not authorized to comment. Under the terms of the proposed deal, Sony would take a majority shareholder role in the company, with Apollo as a minority shareholder. The joint bid is a nonbinding... Read this story
