Sony and Apollo move ahead with Paramount bid process but reticent about earlier plan, NYT reports

) have signed nondisclosure agreements that will allow them to look at Paramount's books ahead of a potential bid for the movie studio's assets, the New York Times reported on Friday, citing people familiar with the matter.

Reuters reported this month that Paramount was in talks to open its books to a consortium of the Sony movie unit and the U.S. buyout firm. CNBC later reported that Sony was rethinking its bid, sending Paramount's shares tumbling and helping the Japanese firm's shares surge after upbeat earnings. Paramount declined to comment on the report, while Sony and Apollo did not immediately respond to a request for comment late Friday.

Paramount has also been talking with Skydance Media but earlier this month ended a period of exclusivity in the negotiations.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.

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