Sony Pictures Entertainment Inc. and private-equity firm Apollo Global Management, Inc. (NYSE:APO) have submitted an all-cash $26 billion offer for Paramount Global (NasdaqGS:PARA), the latest twist in one of the messiest deal dramas in recent memory. Apollo and Sony on May 1, 2024 submitted the offer letter, which was signed by Sony Pictures Chief Executive Tony Vinciquerra and Aaron Sobel, a partner at Apollo, according to people familiar with the situation. The offer is a starting point for discussions and is nonbinding.