Sony Reportedly in Talks to Team Up for Paramount Bid

News has been quiet on the acquisition front in recent days, at least when it comes to video game IP. However, according to a new report, Sony is currently in talks with a monied ally to acquire storied picture-house Paramount and all the cross-media potential such an addition would bring.

That’s according to a new piece in the New York Times (thanks, ResetEra), which says that Sony Picture Entertainment is currently in talks with Apollo Global Management, an investment firm, according to two sources familiar with the situation. Previously, Apollo had made an offer to purchase Paramount for at least $26 billion, a bid which was rejected.

The terms of the joint bid are still being discussed, and it’s entirely possible the twosome will not make a formal offer. According to sources granted anonymity to speak on the subject, an official offer could not even be made currently, as Paramount is engaged in exclusive discussions with Skydance. Apparently, the deal Skydance brought has generated significant investor pushback.

The ramifications of such an acquisition could be potentially huge. For starters, it would bring adaptations of Sonic and Halo into the PlayStation platform holder’s growing media empire. After the news broke, shares in Paramount increased 11% in aftermarket trading.