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    Sony and Apollo Take Key Step in Bid for Paramount’s Assets

    The two companies have expressed interest in acquiring the media conglomerate, but are backing away from their $26 billion all-cash offer.Sony Pictures Entertainment and Apollo Global Management have taken a significant step forward in their effort to court Paramount, three people familiar with the matter said on Friday.The two companies have signed nondisclosure agreements with Paramount, allowing them to look at Paramount’s nonpublic financial information, said the people, who spoke on the condition of anonymity to discuss active negotiations. Paramount previously shared materials with another suitor, the Hollywood studio Skydance.Early this month, Sony and Apollo sent Paramount a nonbinding expression of interest in acquiring the company for $26 billion. The two had been seeking to buy Paramount for its studio and then sell off other parts of its empire, which includes CBS, cable channels like MTV and the Paramount Plus streaming service.But Sony’s shareholders have fretted over the possible acquisition, given the potential cost of a bid for Paramount and the headwinds facing the subscription streaming business. Sony and Apollo are now contemplating a variety of approaches to acquire the company’s assets, but are backing away from their plan to make an all-cash, $26 billion offer for Paramount, two of the people said.Sony’s new vision for a deal could alter the dynamics of Paramount’s effort to sell itself or merge with another company. Paramount previously rebuffed Sony’s offer to buy just its studio, and Paramount’s controlling shareholder, Shari Redstone, has long sought a deal for the entire company.A person familiar with Ms. Redstone’s thinking has said that a breakup of the company is not a deal breaker, depending on the terms, but that she prefers to keep Paramount intact.Ms. Redstone has blessed a deal to sell her stake in National Amusements, Paramount’s parent company, to Skydance, but Skydance’s bid for the entire company has faced significant pushback from Paramount’s common shareholders.Paramount let an exclusive negotiation window with Skydance lapse in recent weeks, but the two are still talking, and Skydance remains interested in a deal.The deal talks are happening at a tumultuous time for Paramount. The company’s chief executive, Bob Bakish, stepped down last month after more than a quarter-century at the company. He was replaced in the interim by three executives running an “office of the C.E.O.”: George Cheeks, the chief executive of CBS; Chris McCarthy, the chairman of Showtime and MTV Entertainment Studios; and Brian Robbins, the chief executive of Paramount Pictures. More

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    MLB The Show Will Include Women Players for the First Time

    MLB The Show 24 will feature a career mode that allows gamers to create a female player and steer her journey to the big leagues. The game draws on the experiences of female baseball players.For the first time, women will don Major League Baseball jerseys in MLB The Show, the long-running popular video game.MLB The Show 24 will debut the option to create and play a female player in a reinvented version of the game’s career mode, Road to the Show, in which gamers direct a custom character’s ascent from the minors to the big leagues. The game’s developer, Sony San Diego Studio, announced the new mode Tuesday.The game, which comes out March 19, calls the new career mode Road to the Show: Women Pave Their Way. It includes a storyline that follows the ascendence of two women into the major leagues and touches on the unique challenges they face, according to Sony San Diego Studio.MLB The Show joins other high-profile sports video game franchises that have moved to include women, such as FIFA (now EA Sports FC) and NBA 2K. But the gender dynamics in baseball are far more complicated, because most women and girls play softball instead.Some hoped MLB The Show 24 would help change that.“I think that in the United States especially, we’re brainwashed to think that boys play baseball and girls play softball, when in reality both exist in both worlds,” said Veronica Alvarez, manager of the U.S.A. Baseball Women’s National Team, which will compete in this year’s Women’s Baseball World Cup.Ms. Alvarez, a former national team player herself, and some of her players provided Sony with input for the game’s development.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More