Apollo and Sony provide $26 billion. Top offer: Report

According to the Wall Street Journal, Sony Pictures Entertainment (SPE) and Apollo Global Management have made a $26 billion cash offer for Paramount Global. According to the Wall Street Journal, which cited people familiar with the situation, the two businesses sent the non-binding offer letter on Wednesday. It was signed by Apollo partner Aaron Sobel and Sony Pictures Chief Executive Tony Vinciquerra. Earlier in April, Reuters revealed that talks were underway for Sony's SPE and Apollo to jointly bid for Paramount. Requests for comment from Reuters were not immediately answered by SPE, Apollo, or Paramount.