Arab Today, arab today sony rejects entertainment unit spinoff proposal
Last Updated : GMT 12:13:45
Arab Today, arab today
Arab Today, arab today

Vetoes proposal to sell music and movie divisions

Sony rejects entertainment unit spin-off proposal

Arab Today, arab today

Arab Today, arab today Sony rejects entertainment unit spin-off proposal

Sony president Kazuo Hirai
London - Arab Today

Sony president Kazuo Hirai Japanese electronics giant Sony said it vetoed a proposal to sell its music and movie divisions as they complement their electronics division. In late May, billionaire investor Daniel Loeb, who owns 7 percent of Sony, hand delivered a letter to Chief Executive Officer Kazuo Hirai requesting the company spin off its music production and movie studio businesses and concentrate on what has traditionally been the company\'s bread and butter: electronics.
The Wall Street Journal reported Sony released a letter Tuesday saying content production fit into its business strategy and it had other means for raising capital if it had to do so.
\"Should we require capital, or in the event of an unanticipated event, our priority would be to raise it without selling a portion of an asset fundamental to our growth strategy, and without unnecessarily burdening Sony\'s ability to execute our business strategy for both entertainment and electronics,\" Hirai wrote.
In response, Loeb\'s hedge fund Third Point said it \"intends to explore further options to create value for Sony shareholders.\"
Weakening Loeb\'s argument, Sony has recently shown signs it can become profitable again, the Journal reported.
The company\'s television business earned a profit in the second quarter. The Xperia Z smartphone is doing well and the PlayStation 4 gaming platform is expected to boost sales this year.
In a letter written in July, Loeb complained a \"complete lack of accountability and poor financial controls,\" had plagued Sony\'s movie production studio Sony Pictures.
Sony said it disagreed with the characterization.
\"Many of your observations regarding our entertainment businesses, and in particular Pictures, are not consistent with the businesses I know,\" Hirai wrote.
 
Source: UPI

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sony rejects entertainment unit spinoff proposal Arab Today, arab today sony rejects entertainment unit spinoff proposal

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 10:06 2017 Friday ,17 February

South Korea's Hanjin Shipping declared bankrupt

GMT 09:26 2017 Friday ,17 February

Samsung's history tainted by run-ins with the law

GMT 09:20 2017 Friday ,17 February

Samsung heir arrested in corruption probe

GMT 10:26 2017 Thursday ,16 February

Dollar, equities stutter in Asia after Trump rally

GMT 08:45 2017 Thursday ,16 February

Hanjin saga reveals S.Korea corporate governance flaws

GMT 09:40 2017 Wednesday ,15 February

Heineken profits drained in 2016 by currency turmoil

GMT 09:10 2017 Tuesday ,14 February

Sharjah Chamber Eyes Strong Economic Ties with Belgium
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday