More Rumors About Potential Sony & Imax Deal (SNE, IMAX)

This morning Benziinga reported that Sony SNE and Imax IMAX were potentially in talks over a merger, with Sony buying Imax at $40 per share. The report first came from the Daily Mail in the U.K. Wall Street refuted those rumors, as shares in Imax started to come well off their highs of the session, and it looked like it was just going to be another one for the Wall Street rumor mill. Now there's a second source saying that Sony is indeed in talks with Imax, potentially north of $40 per share. Porter Bibb, Managing Partner at MediaTech Capital Partners LLC, told BNN that the talks are indeed happening. “I can confirm that both Sony and Disney are in serious talks with IMAX about a takeover, probably at $40 per share or more,” Bibb told BNN in an email. "IMAX has done a fantastic job over the last five years becoming a powerhouse," he said. "IMAX has an advantage over others. It's a premium product. If you are going to get out the house you may as well spend an extra 5 bucks to see an IMAX (movie)." Shares of IMAX are up $3.80 to $30.66, a gain of 14.15% on the day. Shares had opened the session at $32.28.