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... en Sony, which was devastated by Hollywood, spent $5 billion to acquire Columbia Pictures, which shocked the world. Then Panasonic bought Universal Pictures for $6.5 billion.
More importantly, Universal Pictures is affiliated with Universal Music, while Paramount is just a pure film company, not engaged in music.
After Paramount became a subsidiary of Viacom, the business situation changed. Redstone believed that investing in movies was too risky and refused to inject capital into ...
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