BUZZ-Paramount soars on report of Sony, Apollo in talks for joint bid

Reuters04-19

** Media conglomerate Paramount Global's shares jump 10.2% premarket to $12.09

** Sony Pictures Entertainment and Apollo Global Management discussing making a joint bid for PARA, Reuters reports, citing a person familiar with the matter

** Sony and Apollo's bid still being structured, could offer cash for all outstanding PARA shares and take co private - report

** "Paramount has come under some pressure on losses from its streaming business, which is not expected to turn a profit until at least 2025... Such failed attempts led to the buying interest," said Stuart Cole, chief economist at Equiti Capital

** As of last close, PARA shares down 25% YTD, having notched yearly losses over the past seven years

(Reporting by Ankika Biswas in Bengaluru)

((Ankika.Biswas@thomsonreuters.com))

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