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Sony Pictures Entertainment and Apollo Global Discuss Possible Joint Bid for Paramount Global

Sony Pictures Entertainment is in discussions with Apollo Global Management about teaming up on a joint bid for Paramount Global.

Sources close to the situation confirmed the conversations but cautioned that there are numerous obstacles that would need to be overcome before the sides could formally submit an offer. Sony would be the majority owner of the enlarged entity that also includes CBS. Sony and Apollo would have to come up with a structure for the deal around the CBS-owned TV stations given that FCC rules bar a foreign-owned entity from having majority control of broadcast TV stations.

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