Sony under pressure to spin off entertainment unit
Sony is once again being squeezed by one of its biggest investors to split itself up by spinning off its entertainment division.
Third Point hedge fund founder Daniel Loeb sent a letter on Tuesday to Sony CEO Kazuo Hirai urging him to set up a semi-independent board to run a spun-off and public entertainment company, Reuters reported. Loeb recently upped his fund's investment in Sony to 70 million shares, or almost 7 percent of the company, a stake worth around $1.4 billion.
Loeb has argued that Sony has been unable to successfully run its entertainment division, which includes … Read more