The bigwigs at Sony are currently discussing a proposal to split the corporation’s entertainment and electronics divisions into two separate entities.
Bloomberg reports the firm is considering whether or not to adopt billionaire investor Daniel Loeb’s proposal for an initial public offering of its entertainment business – which includes all PlayStation dealings.
Loeb, Sony’s largest investor, called for a division between the two divisions though a hand-delivered letter written by the Third Point CEO. At present, his company owns a $1.1bn stake in the corporation.[The board will] come to a decision that represents Sony’s stance,” CEO Kaz Hirai said.
Sony shares saw an increase of 17 per cent immediately following the report’s release, with the stock continuing to trend upward after hours.