Merger and acquisition talks around Paramount Global have been making headlines since the company reported $286 million in streaming losses in the first quarter.

After letting exclusive merger talks with Skydance Media lapse on Friday, Paramount Global is reportedly in formal talks with Sony Pictures Entertainment and Apollo Global Management for a takeover bid,

Paramount Global goes back to playing the field this week with two suitors still pursuing the company that has been surrounded by a highly public M&A drama for months. And it's unlikely to end any time soon.

Paramount Global has formally begun negotiations with a buyout group led by Sony Pictures Entertainment and Apollo Global Management, the New York Times reported Sunday, after a 30-day exclusive negotiating window with Skydance expired Friday.

After letting exclusive talks with the movie studio Skydance lapse, Paramount’s directors met over the weekend and decided to negotiate with all the suitors.

The companies reportedly made a joint $26B offer to acquire Paramount, which had previously mulled a deal with Skydance that lapsed on Friday.

Paramount Global has more bidders now that Sony Pictures and Apollo Global Management have joined forces and proposed to acquire a stake in the company. It is now competing with Skydance Media for a buyout deal.