Sony Reportedly Planning To Spin-Off Its Movie And Music Businesses To Aid Its Electronic Division

Posted on May 22 2013 - 2:49am by Editorial Staff

Sony

Sony reportedly considering a plan to spin-off its movie and music businesses to aid its electronics division on a proposal from top shareholder Third Point LLC, reported Japanese daily Nikkei (via Reuters).

It was last week only, hedge fund investor Daniel Loeb called on the company to spin off its entertainment division. If the company follow the move it will let allow funding improvements for its electronics arm.

Over on the idea of doing the spin-off, the company at initial stage rebuffed the plan and released a statement indicating that its entertainment business is not for sale and it is “trying to strengthen both of those division as well as its electronic wings.”

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