Sony Pictures Boss Tony Vinciquerra Skirts Paramount Merger Talk, But Says Investment Focus Is “More IP, More Product, More Library To Sell,” Not Streaming

deadline.com:

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