Monday, July 28, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Bose Says Beats Electronics Infringe its Patents
IBM Talks With Globalfoundries Stall Over Price: report
Verizon to Throttle "Unlimited" Data Users
Tablet Market Grows in Second Quarter
The Pirate Bay Goes Mobile
ASUS Announces Strix DSP, Strix Claw, Strix Tactic Pro and Strix Glide Series
China Telecom to Offer The Xbox One System
Thermaltake Debuts the Water 3.0 Ultimate All-In-One Liquid
Active Discussions
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
Video editing software.
 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
Sony Settles 2011 PSN Hacking Case
Sony Xperia Z3 Specs Leaked
Sony Invests in Image Sensor Production
Sony Failed To Pay Web Hosting Bills
New Sony Software Upgrade For Xperia T2 Ultra
Sony Xperia Z2 Tablet Comes Exclusively On The Verizon Wireless Network
Sony Launches The Xperia C3 For Selfies
Sony Recalls VAIO Flip PC Laptops Due to Fire Hazards
VAIO Computers Return To The Japanese Market
Sony and Vue Entertainment To Offer First live 4K Streamings of FIFA World Cup Matches
Sony Pictures Television To Buy CSC Media Group
Sony Releases New Portable Gadgets

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .