Things like this getting announced before a decisions is pretty lame. I was under the impression, they have been discussing and probably made a decision behind the scenes.
But this, this could easily fall through via all sorts of pressure and shenanigans…
Phil and MS right now
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LOIs don't get generated out of thin air.
Before you generate a letter of intent, there are informal and formal discussions. Terms are generated as part of the intent letter.
Doesn't mean this can't fall through, but it's clear that this is pretty serious.
The concerns here are someone almost certainly violated the terms of the LOI which would have almost certainly called for no public statements on the matter.
Either way, it's not going to take long before we get an update on this. I'd say we'll know a lot more by the end of the year. I also doubt Sony is going to fail to go through with a major M&A like this on their home soil, especially after not going through with Paramount.