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'Sony Won't Make Another Bid For Paramount After Skydance Deal; Japanese Company Gives Up On Acquiring Film Studio In Joint Offer With Apollo' - Nikkei Asia

Author: Benzinga Newsdesk | August 06, 2024 12:01pm

https://asia.nikkei.com/Business/Media-Entertainment/Sony-won-t-make-another-bid-for-Paramount-after-Skydance-deal

TOKYO -- Sony Group has decided not to make a new bid for Paramount Global now that independent film studio Skydance Media has reached a deal to buy the U.S. media group, Nikkei has learned.

Sony Pictures Entertainment and U.S. investment firm Apollo Global Management had come forward in early May with a joint proposal to buy Paramount for $26 billion in cash. Then, in early July, Paramount announced a deal with "Top Gun: Maverick" studio Skydance that included a 45-day window to consider other offers.


 

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