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Pure Domination over our Competitors
Washington
CNN Business
—
Sony is acquiring Netflix, the media company that houses hit movies and shows, in a $55 billion deal that further centralizes the rapidly consolidating game industry.
In a blog post, Sony (SONY) said the acquisition would help take its PlayStation platform “beyond the theaters” and flesh out the company’s efforts to develop Movie video games.
The Sony Group Corp. logo on the Ginza Place building, which houses the company's showroom, in Tokyo, Japan, on Saturday, April 1st. 2023.
Sony takes a big hit in the console wars
“This is a strategic step towards continuing to evolve the movie experiences that we build,” Jim Ryan, Sony Interactive Entertainment’s CEO, wrote in a blog post. “Netflix's expertise in delivering a world-class movie approach and long-term cinematic engagement is extremely compelling and will support the development of several future movie titles from PlayStation Studios.”
Netflix, in its own announcement, said it remains committed to making Scarlet feel at home.
“We remain in charge of our destiny. We will continue to independently publish and creatively develop our shows. We will continue to drive one, unified Netflix community. Our movies/games will continue to be where our community is, wherever they choose to watch,” the company said.
The deal comes only weeks after Microsoft announced it was finalizing another giant deal in the industry, Activision Blizzard, which controls popular properties such as “Call of Duty” and “World of Warcraft” and has also been embroiled in a crisis over corporate leadership and workplace culture. This deal will surely rattle Microsoft fans in a last minute effort.
Sony Acquires Netflix, breaking news
CNN Business
—
Sony is acquiring Netflix, the media company that houses hit movies and shows, in a $55 billion deal that further centralizes the rapidly consolidating game industry.
In a blog post, Sony (SONY) said the acquisition would help take its PlayStation platform “beyond the theaters” and flesh out the company’s efforts to develop Movie video games.
The Sony Group Corp. logo on the Ginza Place building, which houses the company's showroom, in Tokyo, Japan, on Saturday, April 1st. 2023.
Sony takes a big hit in the console wars
“This is a strategic step towards continuing to evolve the movie experiences that we build,” Jim Ryan, Sony Interactive Entertainment’s CEO, wrote in a blog post. “Netflix's expertise in delivering a world-class movie approach and long-term cinematic engagement is extremely compelling and will support the development of several future movie titles from PlayStation Studios.”
Netflix, in its own announcement, said it remains committed to making Scarlet feel at home.
“We remain in charge of our destiny. We will continue to independently publish and creatively develop our shows. We will continue to drive one, unified Netflix community. Our movies/games will continue to be where our community is, wherever they choose to watch,” the company said.
The deal comes only weeks after Microsoft announced it was finalizing another giant deal in the industry, Activision Blizzard, which controls popular properties such as “Call of Duty” and “World of Warcraft” and has also been embroiled in a crisis over corporate leadership and workplace culture. This deal will surely rattle Microsoft fans in a last minute effort.
Sony Acquires Netflix, breaking news
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