Sony Considering Sale of Film and TV Businesses After Difficult Year

The New York Post has reported that Tokyo’s Sony Corporation is “listening to bank pitches about a potential sale of its film and TV operations.”

Several sources told The Post that numerous banks have been visiting Sony offices with pitches. The article speculates that because Sony CEO Kaz Hirai has not filled outgoing Sony Entertainment boss Michael Lynton’s position despite the ample notice of Lynton’s departure, there may not be a position to fill.

This news is not entirely surprising. According to Box Office Mojo, Sony/Columbia was the fifth highest earning major studio in 2016, with a market share of just 8% when accounting for all 22 films they released during the year. To put that into perspective, 20th Century Fox and Universal each released 17 films in 2016, and each studio had a market share of 12.9% and 12.4%, respectively. Buena Vista released just 13 movies in 2016, but it held an impressive 26.3% of the market share.

Sony’s highest grossing film of the year was Ghostbusters (2016), a movie which disappointingly earned approximately $128 million domestically on a budget of $144 million. It’s most successful film of the year was definitely Don’t Breathe, Fede Alvarez’s impressive horror film that earned approximately $89 million on a budget of just $9.9 million.

The most shocking part of The Post’s report was this quote from an anonymous tipster: “They want to see how the “Emoji Movie” movie does because they think they have a franchise and it might help them get a better price.”

You heard that right… the fate of Sony Pictures lies in the hands of a film featuring talking text message characters.

Stay tuned to Horror News Network for more updates on the future of Sony Pictures as it breaks.

John Evans
John Evans
John has loved movie monsters for as far back as he can remember. He's since collected up as many comics, statues, and autographed material related to movies and music that he can get his hands on. He is particularly interested in the critical and analytical discussion of the best stories the horror genre has to offer. One of his largest works on the topic is a study on the portrayals of people with disabilities in horror films.

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