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Sony rumored to be selling off its TV and Film divisions

Supposedly Sony is waiting till after their batch of Summer films are released before making an official decision. If the films sell well enough for Sony to be happy, the film division might get to stay for a bit longer. If not, likely going to start selling off their division and studios.

Quote:

Tokyo’s Sony Corp. is listening to bank pitches about a potential sale of its film and TV operations, several sources told The Post.

“Every bank is pushing pitches,” said one person familiar with the process. Another confirmed that banks have paid a flurry of visits to Tokyo to advise on a sale of Sony’s film and TV business.

The Post was first to report (Dec. 18) that the Japanese owners were ready to listen to bid proposals if they had the right number attached.

CBS CEO Leslie Moonves has long signaled interest in acquiring the asset, though several Chinese bidders could be in the wings.

Sony CEO Kaz Hirai has denied any intent to sell the firm during the five years he’s been in the top slot at the company. Still, he has not appointed a successor to Lynton, despite knowing of his intention to depart for some time. That has sparked speculation that there may be no position to fill.

Hirai isn’t interested in selling Sony Music, sources said. The company is in good shape and is a big cash cow for the firm.

The film unit, however, is struggling. Sony/Columbia ended 2016 in fifth place with a market share of 8 percent, behind Disney, Warner, Fox and Universal, according to Box Office Mojo.

A source said Sony hasn’t yet committed to a sale at this time, because the firm wants to see how Sony’s movies perform this summer.

“They want to see how the “Emoji Movie” movie does because they think they have a franchise and it might help them get a better price,” said a source, the film, which features a poop emoji, comes out on August 4.

http://nypost.com/2017/01/19/sony-is...m-tv-business/

Quote:

Originally Posted by Smelly Meatball (Post 4916005)

Disney? Xmen in the MCU?

Only Sony has the Spider-Man rights. Fox got X-men.

On to topic, if this does happen, I simply can't believe Sony is gonna be making money simply on PlayStation, gadgets, and the music division. They've been in trouble for a little while now, but didn't think it would come to this.

They'd shrink by a lot but would also be more healthier as a company considering only their music, insurance/credit, and Playstation divisions generate hefty profits. Playstation division used to be a big negative and subsidized by their PC/tech division but ever since the late PS3 era, they'd been making a good chunk of money from it.

If anything ever happened to their insurance/credit division, they'd be doom since that brings in a ton more money than their others divisions and maybe even combined.

Well emoji is going to tank sooooo....

Emoji Movie? Somebody putting their eggs in that basket deserves to be downsized.

But Patrick Stewart is voicing the Poop Emoji........

I read they might sell it to CBS