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Sony Corp. is prepared to review offers for its film and TV divisions, the New York Post reports. The music division, though, is not on the table...

SONY TO SELL FILM, TV DIVISIONS?

Sony Corp. is prepared to review offers for its film and TV divisions, the New York Post reports. The music division, though, is not on the table.

Sources told media reporter Claire Atkinson that banks have made multiple visits to the behemoth’s Tokyo HQ to discuss a deal. It’s believed several Chinese bidders are among the interested parties.

Sony Music, sources told the Post, is in good shape and, compared to the other divisions, a big cash cow.

The potential divestment comes after high-profile departures last year—Michael Lynton, who left the film division to rule Snapchat, and Steve Mosko, who had run the TV department. That Sony CEO Kaz Hirai has not appointed a successor to Lynton has driven speculation that a sale is a possibility.

Sony/Columbia ended 2016 in fifth place with a marketshare of 8% and had only two films top $100m at the domestic box office: Ghostbusters and The Angry Birds Movie. The TV division has been on a bit of a dry spell too; its short list of current hits includes The Blacklist, Better Call Saul and Shark Tank.

 

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