Paramount shares rise after Sony, Apollo reportedly seek to join deal talks

By Dean Seal

Shares of Paramount Global traded higher following a report that Sony's movie studio division is in talks with Apollo Global Management about joining a bid for Paramount.

Paramount stock (PARA) rose 11.2%, to $12.20, in aftermarket trading. Shares ended the regular trading session up 1.5% on the day and down 26% year to date.

The New York Times reported after the bell that Sony's (SONY) Sony Pictures Entertainment is in discussions with Apollo (APO) about potentially making a joint bid for Paramount.

The bid would be an all-cash offer for Paramount's outstanding shares, though other terms are still being worked out, the report said, citing people familiar with the matter.

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04-18-24 2002ET

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