As many as 5 smaller studios could be on the block this year--Lionsgate, MGM, Dreamworks, Weinstein and Pixar. I don't see Disney letting Pixar go. Dreamworks will not likely leave Paramount and go to Universal. Most analyst see Lionsgate going first. Who would buy them? Universal? Fox? Sony? Disney? Warner already has New Line to take risks. Those five studios have STRONG balance sheets. (Times have changed! Columbia, Fox and Universal were all in the toilet at some point in the last 25-30 years.)
I would laugh if Universal bought Lionsgate and re-released everything as HD DVD.