Paramount Skydance (NASDAQ:PSKY) is talking to Apollo Global (APO) and other PE firms about a joint bid for the entertainment giant.
Apollo appears closest to helping Paramount Skydance head David Ellison for a potential offer, according to a New York Post report on Wednesday, which cited people familiar with the matter.
Blackstone (BX) has also looked at a financing role in the transaction, though as of now isn’t interested in participating, according to the report.
Paramount Skydance chief Ellison is looking for other sources of capital for a potential bid as his dad Larry Ellison appears to have a limited appetite for media deals.
Skydance, Apollo and Blackstone declined to comment to the NY Post.
Shares of Warner Bros. Discovery ticked lower by 0.9% amid the report.