알파경제 - Paramount has initiated formal acquisition negotiations with Sony Pictures Entertainment.

(Photo= Yonhap news)

[Alpha Biz= Reporter Paul Lee] Last Friday, the exclusive negotiation period between Skydance and Paramount expired, leading Paramount to commence formal acquisition talks with Sony Pictures Entertainment. 

According to a report from The New York Times on the 5th (local time), a special committee of Paramount's board of directors has signed on to engage in new negotiations with the acquisition group led by Sony and Apollo Global Management. 

Last week, Sony and the Apollo Group submitted a cash offer of $26 billion for acquisition.

알파경제 Paul Lee Reporter(hoondork1977@alphabiz.co.kr)