Sony Is Reportedly Considering Purchasing Paramount With Another Company

This article covers a developing story. Continue to check back with us as we will be adding more information as it becomes available.

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.

More to come...

Source: The New York Times