Sony Declines Renewed Bid for Paramount Global

Sony's leadership cites strategic misalignment and financial risk in decision to forego a new offer for the media giant.

Sony previously made a joint $26 billion offer with Apollo Global Management for Paramount.
Paramount Global has agreed to an $8 billion merger with Skydance Media.
The Skydance deal includes significant debt restructuring and equity payout.
Sony reported a 10% increase in operating profit, driven by its gaming and music divisions.
Sony's anime streaming service Crunchyroll has surpassed 15 million subscribers.