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:
RSS Feed