Columbia pictures is purchased by Sony for $3.4 billion

Columbia Pictures was first established in 1919 under a different name until it officially changed to Columbia Pictures in 1924. It is an American producing and distributing company that gained popularity mainly around the late 1950’s and early 60’s. The company went through different ownership after Harry Cohn died, the president of the company for years. Coca-Cola ended up buying the company, but the film industry might have proven too difficult for the company to handle.

On September 27th 1989, Columbia pictures was purchased by the Sony Corporation of Japan for $3.4 billion, which during that time meant around $27 a share. During this time many foreign companies were purchasing U.S owned companies.

To date Columbia Pictures is still owned by Sony and their logo has not be changed drastically just modified.