02:55 PM EDT, 05/02/2024 (MT Newswires) -- (Updates with additional details in the second and third paragraphs, MT attempts for comment.)

Sony ( SONY ) and Apollo Global Management ( APO ) have made a $26 billion all-cash offer for Paramount Global ( PARAA ) , The Wall Street Journal reported Thursday, citing people familiar with the situation.

The offer was made as the exclusive negotiation period for Skydance Media's proposed merger with Paramount is about to expire, according to the report.

Sony ( SONY ), Apollo, and Paramount did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)