Sony refused to allocate entertainment business into a separate unit
Sony has refused to accept the plan, the proposed investment fund Third Point and its head Daniel Loeb Sony regarding the allocation of media assets into a separate company and then IPO. The Sony say they considered the proposal by Loeb, but the consensus opinion is that 100% of the company's integrity is critical to the success of Sony in its current form. statement to the Board of Directors of Sony said that the decision to maintain the integrity of the directors of the company was supported unanimously.
At the same time, Sony announced that starting in the current quarter will provide a detailed financial report on the activities of the entertainment unit dealing with the film industry, the release of computer games and other content-areas. Commenting on the Sony, the representatives of hedge fund Third point said they were disappointed by the decision of but will continue to work with the board of directors to develop strategies that will "maximize the value of the company in the interests of shareholders.
" Sony CEO Kazuo Hirai said that Sony current strength lies in the unity of the company and synchronization between the units involved in the release of content and Electronics . Hirai also said that he is ready to dialogue with Loeb to produce "certain specific development strategies." "Business of the entertainment industry is critical to the success of the overall strategy of Sony. I sincerely believe that the improvement of profitability Sony lies in the joint collaboration of several units," - said Hirai.
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