While the talks are preliminary, the two sides have been hashing out the contours of a deal that would have the Culver City-based Sony film and television studio take the lead in the partnership.
Sony Pictures Entertainment is in talks to join Apollo Global Management in its $26-billion bid for Paramount Global — a partnership that would boost the private equity firm's efforts to wrangle the prize. If a deal were consummated, Sony would control a significant majority stake of Paramount, according to two people familiar with the discussions but who were not authorized to speak publicly. Sony and Apollo haven't formally made a bid for Paramount.
Sony has previously expressed interest in taking over the Melrose Avenue film studio, but was rebuffed because Paramount's bankers have said they want to sell the company whole. Spokespeople for Sony and Paramount declined to comment Thursday night. The New York Times first reported the news of the Sony and Apollo talks. Earlier this year, Apollo sent a letter to Paramount's board, offering to purchase its film and TV studio operations for $11 billion.
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