U.S. Hedge Fund Pressures Sony To Spin Off Entertainment Arm
STEVE INSKEEP, HOST:
NPR's business news starts with the possible breakup of Sony.
(SOUNDBITE OF MUSIC)
INSKEEP: An American billionaire is pressuring Sony to split off its entertainment arm, responsible for blockbusters, like "Skyfall" and artists like Taylor Swift. He wants that to be split off from the electronics division, according to The New York Times. The hedge fund manager pushing for that change owns a six and a half percent stake in the company. And, that six and a half percent stake has not done very well. Over the last 13 years, Sony's stock value has gone down, plummeted almost 85 percent. Sony is struggling against electronic rivals like Apple and Samsung.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.