According to the official
representatives of Sony Corporation, the Japanese tech giant is planning
major spending cuts in the near future. In particular, Sony wants to
cut some expenses on its entertainment business by 250 million dollars
within 2 year.
Sony isn’t planning to make it a standalone business with its own budget and will exercise total control over it.
Moreover, according to Sony’s CEO, the
corporation is planning to cut down on the amount of movies produced by
Columbia Pictures, thereby redistributing funds by paying more
attention to media networks and TV production.
Meanwhile, Sony’s stock is consolidating after the recent rally.