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Reuters: Paramount Could Merge With Other Studio?

Reuters: Paramount Could Merge With Other Studio?

Could Paramount Pictures merge with Sony Pictures, Universal Studios, or another major studio? That’s a possibility that Reuters is reporting in this article. Veteran investor Mario Gabelli is quoted in his suggestion that “a wave of consolidation in the industry” is forthcoming from the film industry. Gabelli, the chief executive of Gamco Investors Inc, who owns shares of Viacom (the parent company of Paramount), “said he expects dealmaking among movie studios as they seek to cut costs.”

“‘Today there are seven or eight motion-picture studios,” he said. “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. We hear talk of something going on.”

While obviously just speculation a this point, even the suggestion of such a merger is a further sign of seriously challenged times in Hollywood.

Read the full story here.

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