Which film studio did Sony acquire in 1989 for approximately $3.4 billion?

Sony acquired Columbia Pictures in 1989 for approximately $3.4 billion, marking a major Japanese entry into Hollywood’s studio business.

Columbia Pictures was founded in 1924 and became one of Hollywood’s major studios. Its library included films made across many decades, while its distinctive torch-lady logo became a widely recognized symbol of American cinema.

Sony announced the purchase of Columbia Pictures Entertainment from The Coca-Cola Company in 1989. The acquisition initially faced criticism because of its high price and cultural concerns about foreign ownership of a major American studio.

Sony later reorganized its entertainment operations, and Columbia became part of Sony Pictures Entertainment. The acquisition is distinct from Sony’s later purchase of MGM’s film library and from its ownership of TriStar Pictures.