{"id":3166,"date":"2013-05-23T05:46:04","date_gmt":"2013-05-23T05:46:04","guid":{"rendered":"http:\/\/skylight.gr\/administrator_wordpress\/index.php\/2013\/05\/23\/sony-corp-considers-music-division-spin-off\/"},"modified":"2013-05-23T05:46:04","modified_gmt":"2013-05-23T05:46:04","slug":"sony-corp-considers-music-division-spin-off","status":"publish","type":"post","link":"https:\/\/skylight.gr\/index.php\/2013\/05\/23\/sony-corp-considers-music-division-spin-off\/","title":{"rendered":"Sony Corp considers Music division spin-off"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-1079\" src=\"http:\/\/skylight.gr\/administrator_wordpress\/wp-content\/uploads\/2011\/11\/sony_music.jpg\" border=\"0\" width=\"160\" height=\"160\" \/><br \/>Sony Corp. has confirmed that it will this week discuss proposals that it should sell part of its entertainment business as a new spin-off company to investors on the stock exchange.  <!--more-->  <\/p>\n<p>The news comes a week after activist hedge-fund investor Daniel Loeb encouraged the spin-off of the company\u2019s music and movie divisions in a letter to Sony CEO Kaz Hirai.<\/p>\n<p>Loeb \u2013 whose Third Point LLC owns around 6% of Sony stock &#8211; is urging the Sony boss to consider a partial spin-off of its music and movie division.<\/p>\n<p>He suggested that taking up to 20% of the entertainment division public would help unlock value as well as freeing up capital to overhaul the company\u2019s electronics business.<\/p>\n<p>In a Tokyo briefing yesterday (May 21), Hirai said, &#8220;The proposal from Third Point, Dan Loeb is something that we should discuss thoroughly at a board meeting and then we&#8217;ll decide Sony&#8217;s stance.<\/p>\n<p>&#8220;Therefore, we are now going to start the discussion and we are still at the starting stage.&#8221;<\/p>\n<p>The news comes a week after Sony said in a statement: \u201cThe entertainment businesses are important contributors to Sony\u2019s growth and are not for sale,\u201d in response to intial reports.<\/p>\n<p>Source: Music Week<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sony Corp. has confirmed that it will this week discuss proposals that it should sell&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[23],"tags":[],"class_list":["post-3166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-music-news"],"_links":{"self":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts\/3166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/comments?post=3166"}],"version-history":[{"count":0,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts\/3166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/media\/1079"}],"wp:attachment":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/media?parent=3166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/categories?post=3166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/tags?post=3166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}