Paramount Shares Dip On Report Sony “Rethinking” $26 Billion Bid

Shares of Paramount Global dipped suddenly in afternoon trading on a CNBC report that Sony and Apollo may be "rethinking" their joint bid for the company. The studio and private equity fund made a formal, but preliminary, $26 billion offer for the company controlled by Shari Redstone just as Par's monthlong exclusive negotiating window with Skydance expired early this month. It wasn't extended, but the David Ellison-led studio backed by Larry Ellison and RedBird Capital still has an offer on the table. A sp ...