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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. read more