Twentieth Century Fox Film Corp. could be among the companies clamoring for a stake in Viacom Inc.’s storied Paramount Pictures of Hollywood.

Sources are stating that Fox recently submitted an estimated $5 billion bid for a stake in the ailing media giant’s holdings, according to the New York Post. Both companies declined to comment on the Post’s report.

Paramount, the 104-year-old studio behind iconic films such as “The Godfather” and more recent blockbuster fare such as “Mission Impossible,” has struggled at the box office the past few years.

Paramount had only a 5.9 percent share of the film distribution market last year, according to Box Office Mojo. By comparison, just five years ago, the studio held nearly 20 percent of the market share as the top grossing studio in 2011.

After Viacom Chief Executive Phillippe Dauman announced in February that the company was considering selling a “significant” minority stake in its movie studio, he told the Wall Street Journal that three dozen companies have expressed interest as of earlier this month. Other reported potential suitors include DreamWorks Animation SKG Inc. of Glendale, and China-based companies Alibaba Group Holding Ltd. and Dalian Wanda.