News


Sony reaffirms plans to keep entertainment

One of SPT's upcoming series, Battle Creek

One of SPT’s upcoming series, Battle Creek

Sony has reiterated its previously stated plans to keep its entertainment business as part of the wider corporation.

Investors, notably the Third Point hedge fund boss Daniel Loeb, have put pressure on Sony to separate its consumer electronics and entertainment business, which includes Sony Pictures Television division.

Company CEO Kazuo Hirai told investors at a shareholder meeting yesterday that there were no plans to separate or list the entertainment business.

His comments came after an investor day last November when he gave out the same message.

Opening that event the Sony boss said that entertainment was part of the fabric of the business, was “key to its future growth” and that there are growing opportunities to combine content and hardware.

Within the entertainment segment, the studio’s TV and movie bosses said at that point that the emphasis will shift from features to higher margin TV franchises and international channels.