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Sony considering selling off TV and Movie business

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No wonder Sony Entertainment boss Michael Lynton is leaving.

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.

Lynton said he was exiting to become chairman of Snap Inc., which owns Snapchat.

http://nypost.com/2017/01/19/sony-is-weighing-a-sale-of-film-tv-business/




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Stop making smartphones Sony.



PS4 - over 100 millions let's say 120m
Xbox One - 70m
Wii U - 25m

Vita - 15m if it will not get Final Fantasy Kingdoms Heart and Monster Hunter 20m otherwise
3DS - 80m

Its good news. Sony needs to ditch all dead weight and focus on their banking and insurance companies. That is where their money has been for years.



eh... maybe they should consider streamlining their movie/ tv output then.



bunchanumbers said:
Its good news. Sony needs to ditch all dead weight and focus on their banking and insurance companies. That is where their money has been for years.

They shouldn't rely on consoles however. I have a feeling in the future games will be stream like t.v. If this the case, all the big third parties can come up with their own streaming service. This will hurt both Microsoft and Sony.



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I can only imagine what people are willing to pay to get the Spiderman and Bond licenses.



Everyone is hurting in Hollywood. Lack of idea and people watching the movies online for free.



There have been rumors to this effect for years now. While there may (or may not) be some more truth to them this time around, I'd have to think they would at least want to see how Spiderman performs before truly thinking about selling. 

 

To be fair, though, Sony Pictures has been in a long slump as of late. The TV side seems to be doing fine, but the films division hasn't recovered at all from the hacking incident. I wouldn't be terribly surprised if this did happen, but I wouldn't be surprised if it didn't, either. 



Good. I should buy stock before this happens.







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