Summary
- Sony in talks with Apollo Global Management to buy Paramount.
- Paramount is still in talks for a potential merger with Skydance.
- If that falls through, the potential purchase could integrate Paramount as a label under Sony’s umbrella.
Sony may be teaming up with another company to purchase Paramount. The latter company, which was previously known as ViacomCBS, is currently controlled by National Amusements. The current incarnation of the company comes after years of mergers and acquisitions, however, as it was originally founded as Paramount Pictures in 1914, with their first movie release being the Western The Squaw Man, which was the directorial debut of Cecil B. DeMille, who would go on to become a Hollywood giant.
Per The New York Times, Sony is in discussions with Apollo Global Management to purchase Paramount. The companies have not yet made a move, as exclusive conversations are still ongoing about Paramount potentially merging with Skydance, a move that has proven to be unpopular with shareholders. The potential purchase alongside Apollo, which is partially spearheaded by Sony Pictures Entertainment chief executive Tony Vinciquerra, would likely lead Paramount to essentially become one of the labels under the overall Sony umbrella.
What Would Sony Own If This Purchase Were To Go Through?
Paramount Is A Wide-Ranging Media Company
This possible purchase would create a media behemoth, putting many brands and labels under the control of Sony. At the time of writing, Paramount has six main units, all of which have their own sub-branches. Those would be Paramount Streaming (which includes Paramount+ and PlutoTV), Paramount Media Networks (including Nickelodeon and MTV), the studio Paramount Pictures, CBS Entertainment Group (including CBS, BET, and VH1), Paramount International Networks (including Channel 5 and Telefe), and the merchandising unit Paramount Consumer Products and Experiences.
The 30 Best Movies On Paramount+ Right Now (April 2024)
Paramount+ is arguably better known for its original TV shows, but its movie selection shouldn’t be overlooked, with a great selection to choose from.
From Paramount Pictures alone, the company would be acquiring a vast library of titles. Recent successes from the company include the record-breaking 2022 smash Top Gun: Maverick, the original horror hit Smile, and the popular biopic Bob Marley: One Love. Upcoming Paramount movies that have the potential to be similar hits include the 2024 titles A Quiet Place: Day One, Smile 2, and Sonic the Hedgehog 3, the later releases Mission: Impossible 8, Teenage Mutant Ninja Turtles: Mutant Mayhem 2, and Aang: The Last Airbender, and beyond.
Bob Marley: One Love
is the fourth highest-grossing movie release of the year worldwide at the time of writing.
All of those titles exist alongside the Paramount movie and TV libraries, which already include the Star Trek universe, the Scream movies, and a great deal more. As such, Sony, which already owns properties ranging from The Karate Kid to Spider-Man, could be in a position to wield some of modern enertainment’s strongest IP. It remains to be seen if the planned purchase is ever made, but if it happens, it could have wide-ranging consequences on the entire entertainment industry.
Source: The New York Times
