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Paramount Pictures to Merge with Sony Pictures

Posted: June 16th, 2009 by WorstPreviews.com Staff
Paramount Pictures to Merge with Sony PicturesSubmit Comment
While the auto industry, banks and newspapers are going through bankruptcies and merges, it seems that the entertainment industry is flourishing. Not quite.

Veteran investor Mario Gabelli told Barron's magazine that he expects for Paramount Pictures to soon merge with Sony Pictures, Universal Pictures or another studio as a way to cut costs.

"Today there are seven or eight motion-picture studios. A round of consolidation will occur in the next six to 12 months because of the costs of financing, prints and advertising, the benefits of globalization and such," said Gabelli. "We hear talk of something going on."

Some of you may be wondering why the studios are in trouble, when "Fast & Furious" had the best April opening ever, "Up" will end up the second highest earning film for Pixar and "The Dark Knight" recently became the second highest grossing film of all time. Not to mention that most of the studios are setting record annual numbers.

From what we hear, all the money earned by the studios is going directly to the struggling parent companies. Sony Pictures is owned by Sony Corp, Universal Studios is owned by GE, Warner Bros Pictures is owned by Time Warner, etc... As a result, studios are left with ever shrinking advertising budgets.

Source: Reuters


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Displaying 4 comment(s) Profanity: Turn On
BobMcBob writes:
on June 16th, 2009 at 7:35:16 PM

not a good sign when power is placed in the hands of fewer and fewer people
Shifty-Eyed Dog writes:
on June 16th, 2009 at 8:15:58 PM

Way to make your headline read like fact, when its just conjecture at this point, not to mention they list several studios as possibilities, not just Sony. At LEAST add a question mark.
telur writes:
on June 17th, 2009 at 3:53:21 AM

bullsh*t. Paramount make a lot of money last year with indy and Iron Man. This year they have Transformers 2 and GI Joe. They also have DreamWorks animation. so why still need to merge?
bluemeenie writes:
on June 17th, 2009 at 10:41:03 AM

This is good news- next on the cut list FOX.

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"Spectre" Breaks Box Office Records Overseas

"Star Wars: The Force Awakens" Demolishes Pre-Sale Records

Paul Bettany Responds to Jason Statham's "Avengers" Insult

Daniel Craig Would Rather Commit Suicide Than Return as James Bond

Marvel Has Contingency Plans In Case It Regains Rights to Superheroes
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