Sony considering selling movie and TV business, may scupper Bond 25 deal
24-Jan-2017 • No Time To Die
Sony Corp is considering a possible sale of its film and television arms, according to sources.
Sony Entertainment (and its subsidiary Columbia Pictures) have been responsible for distributing all four of Daniel Craig's James Bond films under deals with cash-strapped MGM. Many commentators assumed MGM would 're-up' with Sony for Bond 25. Any potential deal is likely to be on ice now due to talks of a sale. That may leave the door open for other Bond 25 suitors such as Warner Bros.
"Every bank is pushing pitches," said one person familiar with the process to the New York Post. Another confirmed to the paper that banks have paid a flurry of visits to Tokyo to advise on a sale of Sony’s film and TV business.
CBS CEO Leslie Moonves has long signaled interest in acquiring the asset, though several Chinese bidders could be in the wings.
Sony Entertainment boss Michael Lynton is leaving to run Snapchat. Sony Corp has not appointed a replacement, creating further suspicion that a sale may be next.
