SONY AGREES TO CONSIDER SPINNING OFF ENTERTAINMENT PROPERTIES

Sony has agreed to consider a plan proposed by investor Dan Loeb and his Third Point hedge fund to spin off part of its entertainment division. While initially appearing to dismiss Loeb’s proposal, Sony chief Kazuo Hirai appeared to do an about-face today. “The proposal from Third Point, Dan Loeb is something that we should […]

SONY CHIEF SAYS HE WON’T SELL STUDIO

Sony Corp. CEO Kazuo Hirai has scotched persistent reports that he is considering selling Sony Pictures and focusing on the company’s troubled consumer electronics business. Today’s (Thursday) Hollywood Reporter quoted him as saying, I have always said, when asked the question about why we have the entertainment properties, one of the most important reasons we […]

SONY CHIEF SAYS ITS TV FUTURE IS CRYSTAL CLEAR

Sony’s new chief, Kazuo Hirai, has expressed confidence that the company’s TV business can be turned around and made profitable again. Speaking to reporters in Tokyo today (Thursday), Hirai said that the company will streamline its TV operations — eliminating some 10,000 jobs — and focus on developing the crystal clear OLED and Crystal LED […]

SONY WARNS OF BIGGEST LOSS EVER

Sony’s financial situation appears more dire by the day. Following forecasts on Monday of deep losses in its consumer television business that would force it to downsize with the loss of 10,000 jobs, Sony today (Wednesday) slashed its earnings outlook, warning that it expects to take a $6.4 billion loss for the just-ended fiscal year, […]

SONY TO CUT 10,000 JOBS — MOSTLY IN TV UNIT

Sony, whose Trinitron TV sets have traditionally served as the benchmark for television quality, may be considering downsizing its TV business, particularly in small and midsize products, published reports said today (Monday). Sony has been hit on every side by a glut of TV sets on the retail market that have forced down retail prices, […]

LYNTON TO TAKE CHARGE OF SONY ENTERTAINMENT

Michael Lynton, co-chairman and CEO of Sony Pictures Entertainment since 2004, is expected to be named to a newly created position that will also oversee the company’s music and publishing, television production and cable operations, the New York Post reported today (Wednesday), citing unnamed sources. The move, said the newspaper, will be part of what […]

SONY NAMES NEW CHIEF

Hoping that he can achieve for the rest of the company what he has already achieved for its games division, Sony has named Kazuo Hirai as the company’s next president and CEO. He will succeed Howard Stringer, who will remain executive chairman until June, when he will become chairman of the board. The appointment was […]

SONY SAYS DESPITE LOSSES IT WON’T ABANDON TV MANUFACTURING

Despite losing money in its television manufacturing business for the past seven years, Sony has dismissed speculation that it is considering abandoning the business. In an interview with today’s (Tuesday) Wall Street Journal, Executive Deputy President Kazuo Hirai commented. “We all know it’s a challenging business, but that doesn’t equate to ‘We should be out […]