While Sony and Apollo’s $26 billion all cash offer for Paramount last week turned heads for its potential impact on the streaming market, Sony’s desire to expand its video gaming empire is seen as the linchpin for a successful merger, according to one analyst.
Paramount has been on the block for several years now but since the first hints of a sale emerged, the streaming market has tightened, with consolidation and shareholder demands for real profits driving the market, which is contending with higher interest rates and fickle viewers.
