Sony Corp. is weighing a potential sale of its film and TV business, following pitches from banks, the New York Post reported Jan. 19, citing sources.
The Japanese company has reportedly not yet committed to a sale of the struggling business as it is waiting for the box-office performance of its movies this summer, including "The Emoji Movie" that will premiere Aug. 11. CBS Corp. is keen on acquiring Sony division Sony Pictures, with several Chinese bidders also eyeing the asset.
Meanwhile, President and CEO Kazuo Hirai is not interested in selling Sony Music Entertainment Inc., considered a big cash cow for Sony, according to the report.
The report comes as Corporate Executive Officer and Sony Entertainment CEO Michael Lynton is stepping down to become Snap Inc.'s board chairman.