Sony, as an entertainment and technology company, is constantly thinking of ways to improve its catalog of services and products. Rumors dating back to the beginning of this decade indicated an interest in purchasing major multimedia companies; at that time, no such acquisitions were finalized, but it seems the company has its sights set on one of the most significant entertainment companies.
Reports have just emerged exposing Sony's intentions to acquire Paramount (Paramount Global) and take it private.
Will Sony Acquire Paramount Global?
According to the information, last week, Sony Picture Entertainment CEO Tony Vinciquerra met with investment firm Apollo Global Management to join forces and through a joint investment, acquire the conglomerate Paramount Global, formerly known as ViacomCBS, which includes Paramount Pictures, a film production and distribution company responsible for adaptations of Halo, Sonic the Hedgehog, and The Legend of Zelda for film or television.
As reported, a previous offer from Apollo was $26 billion to take the company private, so with Sony's support, it is expected to be larger. However, it's noteworthy that as of now, Skydance/Redbird Capital is the preferred candidate to finalize the purchase, as they have held talks exclusively with National Amusements, the majority shareholder of the company.
After these reports surfaced, the value of Paramount's shares increased by 14%.
Despite being reported by three reliable sources (Bloomberg, Deadline, and The New York Times]), it's important to remember that there is no official information yet, and neither Sony nor Apollo have made any statements.
We will keep you informed.
Do you think Sony will succeed in acquiring Paramount? Let us know in the comments.
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