Sony not acquiring WB because they have 43 billion in debt would be silly. Sure they have 43 billion in debt but WB has some of the most prestige’s ip in media that hasn’t been fully tapped in. DC films & games hasn’t been fully taped in & when there good they make bank The Batman made over 500 million Batman Arkham games sells 10-15+ million they could sell more under PS & especially if they had good quality Batman films & tv shows to rejuvenate the franchise. Monster Verse films/games, Hogwarts films/games, Hanna Barbara which include the likes of Scooby Doo, Tom & Jerry & Looney Tunes films/games, Games of Thrones films/games all of these are easily billion dollar franchise that if produced good can bring 500M to 1 billion $ in revenue & can push both Sony & PS into multiple markets. WB hold some very valuable ip beloved ip that can give Sony the ability to make there own park w ip from DC, Looney Tunes, Hogwarts alone now combine it with PS ip & other Sony ip like breaking bad, the boys & anime ip from the anime side like demon slayer & now you have a Sony that holds a very strong position in media, games & toys/parks. Imagine a Sony park with DC, Hogwarts, Looney Tunes, Ben10, Monster Verse, GOW, Horizon, GOT, Demon Slayer & if they acquired a gaming publisher like Capcom or Square Enix Sony would hold a lot of beloved ip that could make for a good park this is where Sony has to expand not porting or thinking of doing day n date PC port. Nintendo is in the works of making there own Nintendo park to expand to new consumer. All of WB debt can be paid of under 10 years of Sony had great leadership & direction & produce quality products something WB hasn’t been doing good outside the one off.
I don’t think Sony can do the same with Paramount, Paramount might not be bad but & could make sense if Sony acquires Hasbro to fully own the transformer, gijoe & monopoly franchise fully & gain expertise to produce good toys using those ip combine w Sony ip from PS & Anime.