Featured Articles

HP Stream is a Chromebook killer priced at $200

HP Stream is a Chromebook killer priced at $200

We have been hearing reports of a new breed of affordable Windows notebooks for months. It is alleged that a number…

More...
AMD Radeon R7 SSD line-up goes official

AMD Radeon R7 SSD line-up goes official

AMD has officially launched its first ever SSDs and all three are part of AMD’s AMD Radeon R7 SSD series.

More...
KitKat has more than a fifth of Android users

KitKat has more than a fifth of Android users

Android 4.4 is now running on more than a fifth of Android devices, according to Google’s latest figures.

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 06 August 2013 10:40

Sony says no to spin off

Written by Nick Farrell

Tells Loeb to sling his hook

Sony have rejected a proposal from activist shareholder Daniel Loeb to partially spin off its entertainment business.

Sony said there is still mileage in its decades-old marriage of content and hardware and promised more disclosure in its entertainment operations. Loeb's Third Point hedge fund tried to convince the company to sell as much as one-fifth of its money-making entertainment arm to free up cash to revive the electronics business. Sony would then profit from having a IPO of the new business and own a share in the new business.

Sony CEO Kazuo Hirai said in a letter to Loeb that Sony's board of directors had unanimously concluded that continuing to own 100 percent of its entertainment business made more sense.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments