There would be only 2 game companies worth buying for Sony, Valve, to get Steam and Epic to get the Epic engine and Gears of War. And people who say the companies in question would refuse to get forced into platform exclusivity are wrong, pay people enough money and they stop caring about cross platform development.
That said, I am not sure they would want Epic, because even if getting the Engine and 'fixing' it to work properly for the PS3 is valuable, once Sony owes it that might dissuade other companies from licensing it. Gears of War switching to PS3 exclusivity might be a nice win for Sony though. That said I think the total price of Epic would be higher than the value to Sony in the end, so I doubt they go for this one.
Valve is a much better proposition. They can merge Steam and PSN and get a great cross platform gaming network. They get some nice IP like Half-Life, Portal and Left4Dead. The main gain here would be steam, I think Sony probably feels overexposed on the game development front anyway, and they don't want to have such a big team of 1st party studios that they scare away 3rd party support.
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