New York hedge fund manager Daniel Loeb wants Japanese electronics giant
Loeb, whose Third Point funds own more than $1 billion in
Sony said that its Hollywood operations are not for sale, and a CBS corporate spokesman declined to comment on "rumor and speculation."
However, CBS, in the past has said it would certainly look at any significant entertainment assets that become available.
Many people see a nearly perfect marriage in a tie-up between Sony's entertainment assets and CBS, which, despite being one of the smallest of the major media companies, has among the largest ambitions.
CBS Chief Executive
Sony also owns many television jewels, which would complement CBS' robust television operations and its well-stocked library of classic TV shows, including
Sony Pictures Television produces current prime-time shows such as the quirky comedy
CBS also has its own thriving syndication business, churning out shows such as "Judge Judy," "
The combination of CBS and Sony Pictures would create a full-sized media conglomerate with the scale of
Pivotal Research Group senior analyst Brian Wieser on Tuesday highlighted the value of a partnership between the two.
Unlike CBS, Sony does not own a broadcast network. U.S. communications rules forbid substantial foreign ownership of TV stations, a law that has stymied Sony's television distribution in the past.
However, Sony's library includes 50,000 episodes from 275 television series, Wieser noted, including the classics "I Dream of Jeannie,"
Sony has interest in 124 television channels in more than 159 countries, with particular strength in Latin America and Asia. It co-owns the
"By controlling Sony Pictures Entertainment, CBS could improve its exposure to revenue streams from the TV business in key territories, and many of SPE's international channels offer programming which fit well with CBS' existing content," Wieser wrote.
"A broader global footprint would also help with global expansion of [CBS' premium cable channel] Showtime, allowing it to more closely match HBO," Wieser added.
CBS is controlled by billionaire
Moonves, who envisions CBS as a best-in-class player, would be the one behind the wheel. He has built a reputation as one of the most determined and patient executives in the business.