Tony Vinciquerra of Sony Pictures Avoids Talking About Paramount Merger, but Emphasizes Investing in Intellectual Property, Content, and Library Sales over Streaming - Internewscast Journal (2024)

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For more than week, it’s been crickets when it comes to the push and pull between Skydance and Sony Pictures Entertainment/Apollo over Paramount Global.

However, making some noise during a Sony Pictures Entertainment investor event tonight wasCEOTony Vinciquerra. The CEO was taking part in an annual event called Business Segment Briefing (ne “IR Day” ) in which all Sony Group businesses participate.

While the CEO wasn’t grilled by analysts over Sony’s desire for Paramount Global, nor did he spill any beans about the elephant in the room, Vinciquerra did hint at something when asked about strategic investments by an analyst on the call.

“We are looking for strategic investments as you described that complement our strategy. We are not going to go outside the strategy that has been enormously successful for us over the past several years,” the Sony Pictures Entertainment CEO said.

“We will not make investments that don’t complement our core strategy, and our strategy is to have more IP, more product, more library to sell, we’re not going to get into other businesses, we’re not going to get into a general entertainment streaming service, we’re not going to be operating other businesses that are outside the strategy that we have defined.”

That could be code for: Sony has not interest in streaming service Paramount+. The last we knew, Sony was making a play for Paramount’s TV and motion picture productions. Some industry players believeApollomostly wants the studio lot as a real estate play. Paramount Global’s CBS broadcast assets would need to be sold off, as Sony may not be able to own them under foreign ownership regulations, and simply may not want them. Currently, Apollo’s station holdings would put it over the Congressionally mandated broadcast cap.

Last we heard Sony’s bid was downsized from the $26 billion to buy Paramount Global, and they started talking about a smaller transaction.

Deadline hears David Ellison’s Skydance is still very much in the mix and trying to create offer acceptable and attractive to Paramount. A Skydance combination is very much the favorite in Hollywood but hated by Paramount shareholders. Some sources are saying there could be some movement rather soon.

Par is holding its annual meeting of shareholders next Tuesday morning. That’s not a venue for big corporate announcements but some shareholders may ask about it. Par is in a bit of delicate moment having pushed out its chief executive Bob Bakish and set up a new office of the CEO with three top executives.

A majority of tonight’s conversation had Vinciquerra waving flags for Sony Entertainment’s TV and film businesses.

“Crunchyroll is going to be a primary driver of growth over the next few years,” he said about the studio’s anime division while also touting Crunchyroll’s 13M subscribers.

“We’re going to launch in India and Southeast Asia soon on Amazon channels,” said Vinciquerra who said the m.o. is to build up content for that region.

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