While I personally don't think this deal will happen or want it to. It is smart for Sony to make a play here for paramount or WB
Sony needs franchises other than spiderman to stay afloat in Hollywood. Let's compare what they would get:
Paramount has: star trek, transformers, gi joe sonic SpongeBob, avatar the last Airbender, top gun, smile, TMNT south park mission impossible and some of the marimax franchises. ( alongside potential one for Danny Phantom, and a potential follow up for days of thunder [ I'll be honest those rumblings for DoT2 is coming more from Charlotte NC, than Hollywood]
As for WB you have DC, Harry Potter, the conjuring, ready player one, monsterverse* dune* looney tunes, RWBY, Wonka and Scooby doo.
( Yes I know WB doesn't have much creative control on dune or monsterverse films. That's legendary. But legendary does have a deal with Sony)
Another aspect to put into play is Sony has gone in a different direction when it comes to streaming services which both have. Now from what I understand max is really liked in the USA ( Canadian here so I can't get it thanks Bell.) and paramount+ is struggling. Sony tends to play to niche audiences with their streaming plans ( crunchyroll and pureflix)
As for the way I see it: paramount is a fits into Sony's plans alot better then WB does. That's what the eye test is telling me