07:53 AM EDT, 05/10/2024 (MT Newswires) -- Sony Group ( SONY ) is planning to sell Paramount Global's ( PARAA ) Paramount Pictures lot in Los Angeles if it acquires the studio's parent company, Bloomberg reported late Thursday, citing people familiar with the plan.

The consumer electronics giant is mostly interested in Paramount's intellectual property, the report added, citing the sources.

The company intends to retain Paramount Pictures as a label within Sony ( SONY ), Bloomberg said.

Financial terms weren't disclosed.

Paramount Global ( PARAA ) declined MT Newswires' request for comment, while Sony ( SONY ) did not immediately respond.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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