Stockholders wanted to be bought out at a premium as well.

The issue for Sony is not shareholders but regulators.

But it might not be a cakewalk to merge two major studios either.

Shari Redstone and David Ellison

Shari Redstone and David EllisonGetty Images

All offers are being evaluated by a special committee of Paramounts board of directors.

A deals not a deal without her.

Hollywood insiders favor a Skydance deal over a Sony/Apollo takeover of Paramount Global.

Tom Cruise in ‘Top Gun: Maverick’; Paramount Studios

It included some premium sweetener for a percentage of non-voting Class B shares.

Its not clear if that part of the offer has changed.

Par shares are up 2% to about $12.