WSJ891102-0015 WSJ891102-0015 = 891102

= 891102

891102-0015 . 891102-0015 . Marketing Brief -- Sony Corp. : @ Japanese Concern Completes @ Offer for Columbia Pictures Marketing Brief -- Sony Corp. : @ Japanese Concern Completes @ Offer for Columbia Pictures 11/02/89 11/02/89

11/02/89

WALL STREET JOURNAL ( J ) WALL STREET JOURNAL ( J ) SNE KPE GPEC WCI TL SNE KPE GPEC WCI TL RECREATION , ENTERTAINMENT , TOYS , MOVIES , PHOTOGRAPHY , SPORTS ( REC ) TENDER OFFERS , MERGERS , ACQUISITIONS ( TNM ) MEDIA , PUBLISHING , BROADCASTING , ELECTRONIC PUBLISHING ( MED ) RECREATION , ENTERTAINMENT , TOYS , MOVIES , PHOTOGRAPHY , SPORTS ( REC ) TENDER OFFERS , MERGERS , ACQUISITIONS ( TNM ) MEDIA , PUBLISHING , BROADCASTING , ELECTRONIC PUBLISHING ( MED ) Sony Corp. completed its tender offer for Columbia Pictures Entertainment Inc. , with Columbia shareholders tendering 99.3 % of all common shares outstanding by the Tuesday deadline . Sony Columbia Acquisition Corp. , formed for the Columbia deal , will formally take ownership of the movie studio later this month , a spokesman said . Sony is paying $ 27 a share , or $ 3.55 billion , cash and is assuming $ 1.4 billion of long-term debt . Still unresolved is Sony 's effort to hire producers Jon Peters and Peter Guber to run the studio . Sony 's planned acquisition of Guber\/Peters Entertainment Co. for $ 200 million is scheduled to close Monday . Guber\/Peters has been locked in litigation with Warner Communications Inc. in an attempt to get out of an exclusive production contract with Warner . Both sides are in talks to settle the dispute .