Zhitong Finance learned that Sony (SONY.US) and Apollo Group (APO.US) plan to sell CBS, a subsidiary of Paramount Global (PARA.US), as well as the entertainment giant's cable TV channels, such as Nickelodeon and MTVM, as part of their $26 billion acquisition offer. The new owner will also sell the Paramount Plus streaming service, according to media reports on Wednesday evening, citing people familiar with the matter.

According to reports, Sony and Apollo are also expected to preserve Paramount's library of movies and TV shows and the copyrights of famous characters. The two companies have yet to outline this plan to Paramount or its advisors.

According to reports, Paramount Global's board of directors officially approved negotiations on a potential acquisition of Apollo and Sony on Saturday. According to the latest reports, according to the agreement with Sony, the two companies may operate the company in the form of a joint venture controlled by Sony, while Apollo holds a minority stake. Sony plans to combine the marketing and distribution departments of Paramount Studios with its own business and divest the rest of its assets. Also, the media reported Wednesday evening that Paramount is in talks with Sony and Apollo Pictures. According to people familiar with the matter, the consultants are preparing the terms of the confidentiality agreement.

According to the media, Sony and Apollo expect that Paramount's assets may have many logical buyers. Warner Bros. Discovery (WBD.US) may be a potential buyer of CBS, and TV groups such as NexStar and Tegna will naturally also be buyers of television stations owned and operated by CBS.