Paramount (PARAbingoblitzfree.US) rose nearly 5%bingoblitzfreeSony Pictures Entertainment and private equity giant Apollo issued a $26 billion all-cash takeover proposal to Paramount Worldwide. According to people familiar with the matter, Apollo and Sony submitted quotation letters on Wednesday local time. This offer is the starting point for discussions between the two parties and is non-binding. People familiar with the matter said that under the terms of the new offer, Sony would become a significant majority shareholder, while Apollo would hold a minority stake and cede operational control.