Sony Takes $962M Goodwill Charge In Pictures Division

Sony Corp is due to announce its Q3 earnings on Thursday this week, but ahead of that today in Tokyo, the company says it is taking a goodwill impairment charge for the Pictures division of 112.1B yen ($962M). This is being recorded as an operating loss in the third quarter ending December 31, 2016 as a result of revising the future profitability projection for the studio’s motion pictures business. Sony Corp CEO Kazuo Hirai and outgoing Sony Entertainment CEO Michael Lynt…

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