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.
