Sunday, May 03, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Cry Engine, Final Fantasy Direct X 12 Demos Impressed BUILD
Telecom Companies Seek Stay of FCC's Internet Regulations
Seagate Combines Cloud Storage Systems, High Performance Computing and Electronic Solutions Groups
Microsoft Releases Windows 10 for IoT Devices
LinkedIn Sees Slow Growth
Mozilla To Deprecate Non-Secure HTTP Sites
AMD Delays CrossFire Freesync Update
Microsoft Uses Machine Learning To Guess Your Age
Active Discussions
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
cdrw trouble
burning
 Home > News > General Computing > Sony Re...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, August 06, 2013
Sony Rejects Proposal to Spin Off Entertainment Unit


Sony Corp on Tuesday rejected a proposal from shareholder Daniel Loeb to spin off its entertainment business but the billionaire investor vowed to keep talking with the company and to explore other options.

Sony said demand for content was increasing its value in a dynamic industry environment characterized by emerging distribution platforms and the proliferation of both powerful mobile devices and access to broadband. Sony believes its entertainment businesses will increasingly benefit from these trends, and the Company?s shareholders will benefit from owning all, rather than a part, of these valuable assets.

In addition, full control of Sony?s entertainment businesses drives internal collaboration, facilitates synergies, and allows the Company to be more nimble. Sony believes that the opportunities for collaboration among Sony?s businesses are numerous and increasing, and a rights or public offering would create the need for otherwise unnecessary and burdensome arm's length intercompany relationships as a result of minority shareholder rights, thereby limiting Sony's control and strategic flexibility.

Loeb's Third Point LLC hedge fund has waged a three-month campaign to convince the company to sell as much as one-fifth of its money-making entertainment arm - movies, TV and music - to free up cash to revive the electronics business.

Loeb said he was disappointed with the decision, even while acknowledging that Sony was showing a greater commitment to transparency.

"Third Point looks forward to an ongoing dialogue with management and intends to explore further options to create value for Sony shareholders," Third Point said in a statement.


Previous
Next
Amazon's Owner To Buy the Washington Post        All News        Fujitsu To Make New Supercomputer System For Canon
Amazon's Owner To Buy the Washington Post     General Computing News      Toshiba, SanDisk to build New Flash Memory Plant: report

Get RSS feed Easy Print E-Mail this Message

Related News
Camera Sensor And Playstation Sales Kepts Sony's Annual Profit High
Sony Raises Profit Forecast
Sony Unveils New Home Audio Products
Sony Xperia Z4 Smartphone Unveiled In Japan
Sony's 4K Ultra HD TV Lineup Coming In The U.S.
Sony Unveils Pro 1TB And 2TB Hard Disk Drives with Thunderbolt and USB3.0 Dual Interface
Sony Increases Production Capacity for Stacked CMOS Image Sensors
Sony To Sell Olympus Shares
Android Lollipop Coming On Xperia Z3 And Xperia Z3 Compact
Sony Brings You Cinematic sound With New Sound Bars
Sony Releases New 4K/HD Memory Player
Sony's Project Morpheus Upgraded, Coming in 2016

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .