Tuesday, May 14, 2013

Reuters: Technology News: Sony says entertainment businesses not for sale

Posted by Isabella on 2:50 AM

Reuters: Technology News
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Sony says entertainment businesses not for sale
May 14th 2013, 07:54

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The logo of Sony Corp. is seen atop of Sony City Osaki building in Tokyo January 10, 2013. REUTERS/Toru Hanai

1 of 2. The logo of Sony Corp. is seen atop of Sony City Osaki building in Tokyo January 10, 2013.

Credit: Reuters/Toru Hanai

TOKYO | Tue May 14, 2013 3:54am EDT

TOKYO (Reuters) - Sony Corp, responding to a shareholder's call for it to spin off its entertainment operations, said its entertainment businesses were important to its growth strategy and "are not for sale".

The statement from a Sony spokesman came after hedge fund Third Point went public with a proposal for Sony to sell part of its entertainment division in a public offering to bolster the electronics group's profitability and boost the share price.

(Reporting by Nathan Layne; Editing by Edmund Klamann)

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