Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale -

Sony Entertainment, Including ‘Spider-Man’, Might Be Up For Sale


Industry experts are speculating Sony‘s film and television assets, including Spider-Man, could be headed for sale following news that Kaz Hirai will step down from his position of Chief Executive, where he’ll be replaced by Chief Financial Officer Kenichiro Yoshida.

Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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Yoshida is reportedly “not too keen on the entertainment business,” one industry observer told Deadline, leading to speculation Sony is “ready for a sale.”

Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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Studio insiders have reported no evidence of a shifting corporate strategy under Hirai’s No. 2, according to Deadline, who report Sony will continue to “look for opportunities to grow its film and television business, whether through acquisition or merger.”
“There’s been no discussion of a sale,” the site adds.

Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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Yoshida is described as a numbers guy with a cautious outlook, and once said he sees the company as a technology company that should keep consumer electronics at its forefront.

The company is best known for producing the PlayStation gaming system and a wide variety of electronics, including televisions, Blu-ray players, and cameras.

Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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Sony is currently engaged in an unprecedented deal with Disney-owned Marvel Studios, who produced Spider-Man: Homecoming, last summer’s blockbuster hit that pulled in $880 million worldwide.

The deal sees Marvel Studios producing the Spider-Man movies, which are paid for and distributed by Sony Pictures, and allows Spider-Man (Tom Holland) to exist and participate in Marvel Studios’ shared Marvel Cinematic Universe, home to blockbuster franchises like The Avengers and Guardians of the Galaxy.

 Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

Disney was able to include Spider-Man in Avengers: Infinity War, out in May, under the deal without Sony’s involvement.

Sony retains the rights to the Spider-Man character, effectively loaning him out to Marvel Studios, whose track record has produced nearly 20 #1 blockbuster hits since the studio launched with 2008’s Iron Man.

Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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The Japanese corporation will launch their own spin on a cinematic universe — officially dubbed the “Sony Marvel Universe” — this October with Venom, starring Tom Hardy as the long-time Spider-Man villain.

Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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Though the universes were initially believed separate, recent rumors point to Holland making a cameo appearance in Venom — suggesting the Sony Marvel Universe is at least linked to the Marvel Cinematic Universe, albeit without Marvel Studios’ involvement. Sony also has Silver and Black, starring Spider-Man supporting characters Silver Sable and Black Cat, readied for a March 5 shooting start. The studio caught a break with Dwayne Johnson and Kevin Hart in Jumanji: Welcome to the Jungle, a blockbuster hit that has earned over $825 million worldwide since its December 20 release. More than a month after its debut, Jumanji sits at #2 at the box office.The family-friendly action comedy proved so successful Sony Chairman Tom Rothman wants to pit its sequel against Star Wars: Episode IX in 2019.Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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Jumanji comes after a string of Sony failures: neither The Emoji Movie nor The Dark Tower caught on with audiences late last summer.

Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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Sony’s infamous Ghostbusters reboot similarly failed to excite moviegoers in the blockbuster season back in 2016, proving a flop with just $229 million worldwide despite its iconic IP, which would likely prove usable by a competing studio.

Also read: These Incredibly Amazing Iron Man Facts Will Leave You Wanting For More

Sony Entertainment, Including 'Spider-Man', Might Be Up For Sale

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Aside from Spider-Man and Ghostbusters — and now Jumanji — Sony is also home to the Men in Black films as well as franchises UnderworldResident EvilSmurfsHotel Transylvania, and Goosebumps.

Disney, who recently agreed to purchase 21st Century Fox’s film and television assets in a landmark $52.4 billion dollar deal, would be the favorite to absorb Sony, should they sell; but the Disney company is already facing opposition over the Fox merger that could take between 12 and 18 months.

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If Sony were to ease out of the film and television business, they could even sell off their properties à la carte — allowing Disney-owned Marvel Studios to take complete control over the Spider-Man live-action rights.

Raj
Keep it Mello🖖

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