Sony Takes Extraordinary $1 Billion Write-Down on Film Unit

Sony announced early Monday that its film unit, Sony Pictures Entertainment (SPE), is taking a non-cash goodwill impairment charge of nearly $1 billion.

“As a result of revising the future profitability projection for the Pictures segment, Sony Corporation recorded an impairment charge against the goodwill of the Pictures segment of 112.1 billion yen ($962 billion) in the third quarter ended December 31, 2016,” Sony said in a statement. “This non-cash impairment charge is included...

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