Paramount Global shares surged 13% as Sony Pictures Entertainment considers joining Apollo Global Management's bid for Paramount, with investors showing enthusiasm for the potential scenario. Meanwhile, Skydance Media, backed by RedBird Capital, is in exclusive negotiations with Paramount's controlling shareholder, National Amusements. The market value of Paramount is around $8.5 billion, and there are ongoing uncertainties about the shape of potential deals, with Apollo making separate overtures for Paramount Pictures. The ultimate direction of a deal remains uncertain, with Shari Redstone's stake and potential litigation posing challenges.
Sony Pictures Entertainment has announced the theatrical rerelease dates for all eight live-action Spider-Man movies, with screenings starting from April 15 and continuing weekly in release order. The films will include those directed by Sam Raimi, Marc Webb, and Jon Watts, and tickets are now available for purchase online.
Disney has struck a deal with Sony Pictures Entertainment for Sony to take over the manufacturing, distribution, and marketing of Disney's DVDs, Blu-ray discs, and other physical media in the U.S. and Canada. This move comes as physical disc sales continue to decline amid the industry's streaming boom, with revenue dropping 28% in the first half of 2023. Disney will continue to manage its digital media, and the deal with Sony is part of the company's strategy to respond to consumer demand more efficiently.
Director Sam Mendes is set to make four separate Beatles movies, each from the perspective of a different band member, with the films intersecting to tell the story of the iconic group leading up to their 1970 breakup. Sony Pictures Entertainment will finance and distribute the films theatrically in 2027, promising an innovative release strategy. This marks the first time the Beatles have granted full support for scripted films, and the project aims to provide a unique and epic cinematic experience.
Sony Pictures Entertainment's profits for the third-quarter of fiscal year 2023 surged 57% to $281 million, with revenues also rising 5% to $2.473 billion. The increase was attributed to higher television and digital streaming licensing revenues, home entertainment sales, and the success of theatrical releases like "Spider-Man: Across the Spider-Verse." Additionally, the company noted significant increases in the Financial Services, Pictures, and Music segments, with a 16% rise in sales for Games & Network Services. Sony also highlighted the success of Crunchyroll and expects the impact of Hollywood strikes to be around $133 million.
Sony Pictures Entertainment has opened Wonderverse, a 45,000-square-foot suburban gaming hub at Oakbrook Center featuring physical and VR games, themed interactive installations, and food and drink. The attractions include Ghostbusters and Jumanji themed VR games, a Zombieland section, and a hidden speakeasy bar called the Ghost Trap. The venue also houses a limited-time 21 Jump Street pop-up bar and the Commissary Restaurant. Sony hopes to attract both older and newer fans with its array of themed experiences and menu items.
Genvid has released the premiere trailer for Silent Hill: Ascension, an interactive streaming series that will be available on PlayStation 5, PlayStation 4, Bravia TVs, and select Xperia smartphones. The series follows two families connected by visions, a cult, and terrifying creatures. Genvid has partnered with Sony Pictures Entertainment to release weekly episodes on their respective apps. Viewers will have the opportunity to influence the storylines through their decisions, making it a unique and immersive experience. The series will launch on October 31st.
