Sony Group Corp. plans to sell the historic Paramount Pictures lot in Los Angeles, featured in films such as Sunset Boulevard, if it succeeds in buying the studio’s parent company, according to people familiar with management’s thinking.

CBS and other well-known properties would be sold if Sony and Apollo were able to buy Paramount. But the new owners would keep the movie studio.

If Sony Pictures Entertainment and Apollo Global Management acquire Paramount Global, they have their sights set on big changes at the entertainment behemoth — namely, making it smaller.

Paramount Global’s vast entertainment empire would be broken up if a buyout bid from Sony Pictures Entertainment and Apollo Global Management succeeds, according to a new report.

Paramount’s controlling shareholder Shari Redstone preferred to keep the company together in a sale, but that outcome appears less and less likely. The sale of a company as large as Paramount Global is a highly involved process.

The race for media company Paramount (NASDAQ:PARA) continues to intensify. According to a New York Times report, there is news that if Sony

CBS, MTV and Paramount Plus could be divorced from the Paramount Pictures, according to a report. This article, Sony, Apollo to sell Paramount-owned TV networks if deal approved, was first published at The Desk.

Adding Paramount IP to its Playstation platform will help Sony compete against larger media players according to analyst