Digital Media Center
Bryant-Denny Stadium, Gate 61
920 Paul Bryant Drive
Tuscaloosa, AL 35487-0370
(800) 654-4262

© 2024 Alabama Public Radio
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

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. Transcript provided by NPR, Copyright NPR.

News from Alabama Public Radio is a public service in association with the University of Alabama. We depend on your help to keep our programming on the air and online. Please consider supporting the news you rely on with a donation today. Every contribution, no matter the size, propels our vital coverage. Thank you.