It seems Sony doesn’t give a fuck about gaming IP.
All the studios they buy dont really have valuable IP. Insomniac, Bungie(I guess Destiny), Naughty Dog, Blue Point, Etc.
Sonic The Hedgehog was a cancelled live-action/animated fantasy adventure film made by Tim Miller that was scheduled for a 2018 release, but never released. It was in production since 2013, but then was later permanently cancelled. Unknown, but the plot looked similar to the Paramount version...
cancelled-movies.fandom.com
I do think they might buy Sega, since Sony Pictures might want Sonic back. Sony treats Playstation like their side hustle when its their money maker for some reason. I read articles how Sony studio heads are salty about Sonic. They pretty much created the movie, then lost the rights.