Sony Reportedly in Talks to Join a Bid to Buy Paramount

[The Deadman]

https://www.ign.com/articles/sony-re...-buy-paramount

Sony is reportedly in talks to join a joint bid with investment firm Apollo Global Management to acquire Paramount, according to an article from the New York Times today.

Per the report, Sony and Apollo Global Management have not yet submitted an official bid, but Sony chief executive Tony Vinciquerra held conversations with the investment firm last week. The terms of the possible bid are still apparently being worked out, but it would essentially offer cash for shares of Paramount, "in effect taking the company private through a joint venture."

The report adds that, if a bid and subsequent acquisition goes through, Sony would likely absorb Paramount's operations and brand it as a label of its own media empire. In addition to Paramount Pictures, the Paramount umbrella includes networks like Nickelodeon, Showtime, MTV, Comedy Central and - perhaps most notably - CBS, as well as Paramount+. In that, Paramount boasts IP like Spongebob Squarepants, Top Gun, Yellowstone, and the Sonic the Hedgehog films.

As Bloomberg, which also reported the news, points out, Sony is the only major entertainment studio without a general streaming service. With that in mind, it's easy to see why Paramount and its vast array of linear TV channels might be appealing for the company.

Today's report comes not long after National Amusements, Paramount's controlling company, signed off on a deal that would merge Paramount with Skydance Media, the production company behind movies like Top Gun: Maverick, Mission: Impossible – Dead Reckoning, and Transformers: Rise of the Beasts.

Late last year, reports emerged that Warner Bros. executives had also met with Paramount Pictures to talk about the possibility of a merger. We haven't, however, heard more about those talks since then.

Paramount shares shot up 12% in the wake of the news in after-hours trading today.

[TigerClaw]

Originally Posted by The Deadman

https://www.ign.com/articles/sony-re...-buy-paramount

Sony is reportedly in talks to join a joint bid with investment firm Apollo Global Management to acquire Paramount, according to an article from the New York Times today.

Per the report, Sony and Apollo Global Management have not yet submitted an official bid, but Sony chief executive Tony Vinciquerra held conversations with the investment firm last week. The terms of the possible bid are still apparently being worked out, but it would essentially offer cash for shares of Paramount, "in effect taking the company private through a joint venture."

The report adds that, if a bid and subsequent acquisition goes through, Sony would likely absorb Paramount's operations and brand it as a label of its own media empire. In addition to Paramount Pictures, the Paramount umbrella includes networks like Nickelodeon, Showtime, MTV, Comedy Central and - perhaps most notably - CBS, as well as Paramount+. In that, Paramount boasts IP like Spongebob Squarepants, Top Gun, Yellowstone, and the Sonic the Hedgehog films.

As Bloomberg, which also reported the news, points out, Sony is the only major entertainment studio without a general streaming service. With that in mind, it's easy to see why Paramount and its vast array of linear TV channels might be appealing for the company.

Today's report comes not long after National Amusements, Paramount's controlling company, signed off on a deal that would merge Paramount with Skydance Media, the production company behind movies like Top Gun: Maverick, Mission: Impossible – Dead Reckoning, and Transformers: Rise of the Beasts.

Late last year, reports emerged that Warner Bros. executives had also met with Paramount Pictures to talk about the possibility of a merger. We haven't, however, heard more about those talks since then.

Paramount shares shot up 12% in the wake of the news in after-hours trading today.

One of the interesting things about all this, Was Sony once tried to get the live action Sonic movie made, But that never got off the ground until Paramount got the rights.

[NinjaPug]

No thanks. Don’t want Tom Rothman over anything else.

[neatoman]

[Andrew NDB]

Good, somebody needs to buy Paramount, if only to fire Kurtzman and his cronies.

[Autbot_Benz]

Originally Posted by NinjaPug

No thanks. Don’t want Tom Rothman over anything else.

agreed Tom Rothman sucks

[neatoman]

[LeotheLateBloomer]

If this goes through, they'd get the rest of the rights to Garfield alongside the movie they're making. Which means possible sequel...?

[oldmanwinters]

So...
Warner Bros. buys up tons of old film and TV rights in the 1980s/90s but has been losing money ever since.
Sony takes over Columbia/Tri-Star
Disney buys out Pixar and 20th Century FOX and now has their own financial problems.
Sony and Paramount are now "talking."

Any rumors about Universal?

[Andrew NDB]

Paramount backing away from deal.

https://www.darkhorizons.com/paramou...way-from-deal/

[Andrew NDB]

A deal with Skydance lapsed and now it's back on for Sony, who's back at the negotiating table.

https://www.axios.com/2024/05/06/par...2kd9_PhnE1kCF8

[LeotheLateBloomer]

Did Skydance even have enough? Also if Sony buys them, would they keep Paramount+ going since they'd rather license out their stuff on other streaming services?

[Andrew NDB]

Originally Posted by LeotheLateBloomer

Did Skydance even have enough? Also if Sony buys them, would they keep Paramount+ going since they'd rather license out their stuff on other streaming services?

Apparently yes, since it's back on with Skydance again and seems all but fully signed now. It seems the main reason is because Skydance didn't want to break up the company but Sony did?

https://www.darkhorizons.com/paramou...-merger-terms/

F*** that. Sony breaking up the company and taking heads was the only thing to look forward to in this.

[LeotheLateBloomer]

Originally Posted by Andrew NDB

Apparently yes, since it's back on with Skydance again and seems all but fully signed now. It seems the main reason is because Skydance didn't want to break up the company but Sony did?

https://www.darkhorizons.com/paramou...-merger-terms/

F*** that. Sony breaking up the company and taking heads was the only thing to look forward to in this.

Breaking the company up is something I think would be best as well. Besides, I don't think this merger will save Paramount in the slightest. Isn't Skydance just a production company?

[Andrew NDB]

Originally Posted by LeotheLateBloomer

Isn't Skydance just a production company?

That's what I thought until like 5 minutes ago.

[Andrew NDB]

Wow! The deal with Skydance fell apart at literally the last minute yesterday.

https://variety.com/2024/tv/news/par...ks-1236040673/

This might mean Sony is back on the table, if they're still willing?

[neatoman]

Jesus Christ, I post that Simpsons clip of Bart trolling an auction house as a joke, how long is this game of merger hot potato going to go on?

[Andrew NDB]

Originally Posted by neatoman

Jesus Christ, I post that Simpsons clip of Bart trolling an auction house as a joke, how long is this game of merger hot potato going to go on?

This is all pretty unprecedented.

[Andrew NDB]

Skydance is back in the picture:

https://trekmovie.com/2024/07/02/par..._loTsymLVykRnQ

[Andrew NDB]

Sounds like the Skydance deal is completed.

https://www.darkhorizons.com/paramou...skydance-deal/