Which company acquired Columbia Pictures in 1982 before selling it to Sony in 1989?

The Coca-Cola Company acquired Columbia Pictures in 1982 before selling it to Sony in 1989.

Coca-Cola purchased Columbia Pictures Industries in 1982, expanding beyond beverages into film and entertainment. The acquisition placed the movie studio within a company better known for soft drinks, bottling, and consumer marketing.

The studio produced and distributed major films during Coca-Cola’s ownership, but the arrangement was not permanent. Coca-Cola sold Columbia Pictures to Sony Corporation in 1989 for approximately $3.4 billion. Sony then integrated the studio into its entertainment operations.

This history is sometimes confused with PepsiCo’s corporate portfolio. PepsiCo’s major nonbeverage expansion included snack foods and restaurant businesses, while Coca-Cola’s Columbia venture was a notable attempt to diversify into Hollywood.