Sony looks to boost film assets with $26bn Paramount acquisition

PALO ALTO, California/NEW YORK -- Sony and U.S. investment fund Apollo Global Management have proposed an acquisition of Paramount Global for $26 billion, according to media reports, as the Japanese company's film arm aims to bolster its slate of intellectual property.

Sony Pictures Entertainment (SPE) and Apollo sent a letter to Paramount with a non-binding buyout offer on Wednesday, according to people familiar with the matter. The $26 billion acquisition price was reported by The Wall Street Journal and other sources.