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Sony hires Morgan Stanley, Citi to gauge spin-off option

Sony hires Morgan Stanley

Sony Corp has tapped Morgan Stanley and Citigroup to help sound out options for its entertainment business, according to a media report.

Cable television network CNBC reported on Thursday that Sony has hired the two banks but that the process was still in an exploratory stage. CNBC cited an unnamed source.

Morgan Stanley, Citigroup and Sony declined to comment.

... (Image Credit: AFP)

Venturing further into entertainment (Image Credit: AFP)

Billionaire hedge fund investor Daniel Loeb has called on Sony to spin off its lucrative U.S-based entertainment arm, which includes one of Hollywood’s top film studios and a leading music label.

Loeb said his Third Point hedge fund had accumulated a little more than 6 percent of Sony’s shares, a stake worth $1.1 billion, making Third Point the largest stakeholder in the company that invented the Walkman portable music player and Trinitron TV.

Asked about Loeb’s proposal at the AllThingsD conference in Rancho Palos Verdes, California, Sony’s Chief Executive Kazuo Hirai said: “We need to give it serious consideration and come to a decision and move on.”






  1. what exactly transpires with a company’s stock after the federal government get part possession inside it? like AIG and Citi Group. are you able to still trade available on the market etc?

  2. Eusebio Thanasouk

    Say someone owned stocks in Bank of America or Citi Group, what would happen to the share holders’ stocks if the banks were nationalized?

    Would the government take over the public shares?
    If they did would the share holders be compensated for losses?

    What if they bought shares at the $3.50 a share and the stocks drop to $1.00 a share, would shareholders be compensated for the $3.50 if they were trying to invents, or would they only be compensated for $1.00 a share?

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