May 3 (Reuters) - Following are the top stories on the

New York Times business pages. Reuters has not verified these

stories and does not vouch for their accuracy.

- Sony Pictures Entertainment and the private equity giant

Apollo Global Management ( APO ) have formally expressed

interest in acquiring Paramount for roughly $26

billion.

- TikTok and Universal Music Group have reached a

new licensing deal where the companies said that they had agreed

to a "multi-dimensional" new deal that included improved

remuneration for Universal's roster of artists and songwriters.

- Peloton said that its chief executive, Barry

McCarthy, was stepping down and that it would reduce head count

by 15 percent, as it continued to struggle in the fitness

market.

- The Federal Trade Commission approved Exxon Mobil's ( XOM )

acquisition of Pioneer Natural Resources ( PXD ) for $60

billion deal as long as Exxon excludes Pioneer's chief executive

from its board.

(Compiled by Bengaluru newsroom)