Sony Pictures Entertainment and Apollo Global Management had signed non-disclosure agreements that would allow them to look at Paramount‘s books ahead of a potential bid for the movie studio’s assets.

The companies are, however, backing away from an initial plan to make an all-cash $26 billion offer for Paramount, Reuters reported.

Reuters reported this month that Paramount was in talks to open its books to a consortium of the Sony movie unit and the US 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.

Sony and Apollo are now contemplating a variety of approaches to acquire Paramount’s assets. 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.