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Sony and Apollo confirm $26B proposed bid in Paramount talks

Yahoo Finance

Paramount Global (PARA) shares are flying higher in Friday morning's trading session — skyrocketing by nearly 14% in the last five trading days — after reports confirmed that Sony (SONY) and Apollo Global Management (APO) are pursuing an acquisition of the media giant. The proposed deal, valued at $26 billion in an all-cash bid, has Sony set to assume the role of the majority shareholder and Apollo taking a minority stake.

Yahoo Finance Entertainment Reporter Alexandra Canal breaks down the details, providing insights into the state of Skydance Media's own talks with Paramount.

Disclosure: Apollo Global Management is the parent company of Yahoo and Yahoo Finance.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Angel Smith