Negotiations are now likely to focus on another suitor, Sony, which has teamed up with the private equity giant Apollo on a $26 billion bid.

After months of M&A talks, Paramount Global and controlling shareholder Shari Redstone might be going it alone after all.

The Shari Redstone-controlled entertainment company is also weighing an offer from Apollo and Sony, but regulatory concerns surround that deal.

The terms of the new deal would provide Paramount shareholders with an investment to pay down debt and buy back stock.

Paramount Global’s special committee of independent directors has informed Skydance Media that it will let the exclusivity window on the two parties’ merger discussions expire with no deal ahead of a Friday evening deadline, according to an individual with knowledge of the matter.

Paramount Global has more bidders now that Sony Pictures and Apollo Global Management have joined forces and proposed to acquire a stake in the company. It is now competing with Skydance Media for a buyout deal.

Paramount Global (PARA) stock drops 4% as discussions continue with Skydance Media over asset valuation for a potential deal, reports CNBC.

Skydance and its private equity backer are wooing Paramount. The newest bid: a premium for common shareholders and under $2 billion for Shari Redstone.

Cash is king, unless there is a queen in the picture. The struggling media conglomerate Paramount Global has the chance to sell the whole company in an all-cash takeover from joint bidders Apollo Global and Sony.

As the landscape of media conglomerates continues to evolve, a significant development looms on the horizon involving two major players in the entertainment industry. Paramount Global and Skydance Media are reportedly advancing toward a merger that could reshape their futures,