Sony Buys MGM For Close To $5 Billion
September 20, 2004 | by Ian Bell
Sony hopes that their acquisition of Metro-Goldwyn-Mayer will give them more clout in Hollywood says analysts.
" The nearly five-billion-dollar investment with consortium partners is unlikely immediately to boost Sony's sluggish core consumer electronics business but is part of a long-term strategy, they said.
Yoshimasa Maruyama, senior economist at Mizuho Research Institute, said Sony's Hollywood expansion underlined its push to establish the Blu-ray disc as the DVD of choice for future releases. "
Sony's consumer electronics arm has been struggling lately with losses posted for the past few quarters. What better way is there to push Blu-ray technology than to have complete control over which movies are released on the up-and-coming new technology.
Read more about this at the following sites:
Post Your Comment...Comments
Comment on this article
Please keep your comments relevant to this article. Email addresses are not displayed, they are only required to verify you are human.
When you submit your comment, an email will be sent to your email address with a confirmation link. Once you have clicked on that confirmation link your comment will be posted.
HTML is not allowed.
RSS Feed
Be the first to comment on the article!