Sony Decides Not to Buy Pluto TV & Paramount+
Last week, Paramount and Skydance officially announced a deal to merge. With this deal Skydance will buy the Redstone families majority control of Paramount. Part of the deal though gave the Redstone family 45 days to look for other buyers to beat the Skydance offer.
One of the other potential buyers was Sony, who had looked at Paramount but now has decided not to buy Paramount, including its streaming services Pluto TV and Paramount+. This comes from a report by Deadline who says their sources confirmed Sony dropped out of the bid. Sony had reportedly made a preliminary $26 billion offer, but Paramount decided to go with Skydance instead. After that, Sony declined not to make a new offer.