Jan 30, 2017
Sony takes $1bn charge on movie business
It has taken a 112bn yen charge, citing "An acceleration of market decline". Sony's movie division has also struggled, with recent flops including an all-female Ghostbusters sequel. Sony had warned earlier this year its movie division could post more losses. The Japanese firm, which reports its third-quarter results on Thursday, is still assessing whether the impairment charge will affect future earnings. It plans to offset the loss by selling shares in medical web service M3. The head of Sony's entertainment business, Michael Lynton, recently announced he would be stepping down in February after more than a decade at the firm.
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