Sony Discussing Loeb Proposal as Weaker Yen Boosts Forecast
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Sony Corp.’s board is “deepening” its discussions of billionaire investor Daniel Loeb’s proposal to sell part of the entertainment business, the company said after raising its full-year revenue forecast on the weaker yen.
Investors have asked for more information about the units making films, TV shows and music, and Sony is getting input from financial advisers, Chief Financial Officer Masaru Kato said at the company’s earnings press conference yesterday in Tokyo. He declined to comment on a timeframe for a decision. Loeb questioned executives publicly yesterday on a conference call.