Sony Pictures Isn't for Sale, According to Sony CEO, Kaz Hirai

Late last week, rumors began to spread that Sony was looking to offload their studio business and sell Sony Pictures. Though rumors like these pop up from time to time, they don’t tend to get the traction as they come from anonymous insiders. This time however, the rumor began from the CBS CEO, Les Moonves which maid the whole thing more credible. Since then, Sony CEO, Kaz Hirai has came out and dismissed it, stating that,

“There is absolutely no truth to rumors that Sony’s entertainment businesses are for sale,”

Mr. Hirai went on to explain that Sony Pictures in fact played a crucial role under his turnaround strategy.

“As I said at our strategy meeting in April, Sony is comprised of electronics, entertainment and financial services businesses, and our entertainment companies have a stable business foundation and are poised for future growth. There is no reason to sell these industry-leading businesses and no consideration is being given to the idea.”

Of course, just because Sony has Sony Pictures and envisions them as part of their future strategy does not mean that the company hasn’t fancied the idea of selling the studio, nor does it mean that the sale will take place. In reality, the truth probably lies somewhere in the middle with the fact that despite owning a large film studio for 20 years, Sony has never been able to leverage them beyond product placement in movies.

Beyond seeing the Community cast holding a PS3 controller and James Bond using a VAIO laptop, Sony has never been able to offer anything extra from its film studios to its electronic users. In fact, even if you own a Sony device and subscribe to their Video Unlimited or Music Unlimited service, you still receive no extra kickback from Sony Pictures which of course begs the question,