Sony has realised that content is not as ‘king’ as it used to be

It has taken it a quarter of a century to realise it overpaid when it shelled out $3.4 billion for Columbia

5th February, 2017
Kazuo Hirai, President and CEO of Sony, speaks during a press event for CES 2017 at the Las Vegas Convention Center earlier this year Pic: Getty

It doesn’t usually take 28 years for a buyer to suffer from remorse. But Sony has just taken a $983 million writedown on the value of its film business. The bulk of this, according to the company’s announcement to the stock market on the subject, reflects an impairment of the goodwill acquired when it bought Columbia Pictures in 1989.

More than a quarter of a century later, the Japanese company has effectively acknowledged that...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Content is king – just ask Netflix as rivals attempt to steal its crown

Tom Maguire: Tax changes we make now could help business for years