Business & Tech

Sony May Spin Off Its Culver City Studios

The proposed spin off would potentially help the company's ailing electronics business.

Under pressure from one of its top investors, Sony said on Wednesday that it may consider spinning off part of its entertainment division, which includes the sprawling film studio complex in Culver City, according to media reports.

The New York Times reported that the discussions are only preliminary at the moment and it would be up to the Sony board to decide on whether to move forward with the proposal.

The spin off idea was proposed by the hedge fund Third Point, which currently holds a 6.5 percent stake in Sony. The goal of the proposal would be to use the money raised from the spin off to help Sony's under-performing electronics division, the Times reported.

Sony Pictures Studios, a long time landmark in Culver City, has played home to a large list of Hollywood blockbusters as well as long-running television shows such as Jeopardy and Wheel of Fortune.

Formerly the site of MGM Studios, the sound stages on Sony's lot have also housed the productions of such famous films as The Wizard of Oz and helped distinguish the Culver City as the "Heart of Screenland."

Full Story: On The New York Times


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