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Although details have not been revealed on how the transaction would happen, the offer would make Sony the majority owner operating the company, with Apollo taking a minority stake in the joint venture.

The offer arrived after a week where it was rumored that the company was in talks to acquire Paramount's studio.

The private equity firm is allegedly in talks to acquire the entire of Paramount's assets, however it may also look to bid on specific assets within the conglomerate.

Vivendi’s pay-TV business Canal+ is working on a potential bid for a minority stake in Starz, following the news that Roku partnered with Apollo Global Management to make a joint bid for the network.

The two companies are seeking a way to secure a 20% stake in the premium cable brand, which was acquired by Lionsgate in 2016 for $4.4 billion.