Monday, October 20, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
SK Telecom and Samsung Join Hands to Lead 5G Network Technology
Pantech Applied for Bankruptcy Protection In The US
IBM To Offload Chip Business To Globalfoundries: report
Microsoft To Launch A Wearable Device Soon
FCC To Explore High-frequency Wireless Technologies
Mozilla Hello Offers Voice and Video Calls Through The Browser
Samsung Adds Intel Processor To Chromebook 2
LG Ultra-Portable HD MiniBeam Projector Features Built-in Battery
Active Discussions
How to generate lots of different CDs quickly
Yamaha CRW-F1UX
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
 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 To Release Android Lollipop To Its Entire Xperia Xperia Z Series
New Sony Headphones, Portable Headphone DAC/Amplifier and Headphone Cables Support Hi-Resolution Audio
Sony Xperia Z3 Coming To The US
PlayStation TV Coming October 14th
Sony Develops SmartEyeglass, Launches SDK
Sony To Offer Unity For PlayStation To PlayStation Licensed Developers
Sony Slashes Guidance Due To Poor Smartphone Sales
Sony Smart EyeGlass Prototype Appears At IFA
New Sony Camera Shoots In The Dark
Sony Unveils New Xperia Z3, Z3 Compact And More at IFA
Sony PSN Back Online
Sony Offers New Smart Tennis Sensor

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 .