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What the hell is going on with Paramount? After letting a 30-day negotiating window with Skydance Media lapse on Friday, the board's special committee decided over the weekend to formally consider a $26 billion, all-cash offer for the company from Sony Pictures Entertainment and the private equity firm Apollo Global Management. The committee will continue to explore the initial deal proposed by Skydance founder David Ellison. But they will also consider the Sony-Apollo joint deal, according to two individuals TheWrap spoke with on Sunday. It sounds like we are back to square one. There is, however, another option. The newly-named "Office of the CEO" — composed of the three top executives Brian Robbins, George Cheeks and Chris McCarthy — who replaced ousted CEO Bob Bakish last week, are in the drivers seat right now.
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