Sony loses a billion at the movies
 

There have been rumours for a while now that Sony was thinking of off-loading its movie business, and now it is clear why.

The outfit has dropped nearly a billion dollars on its entertainment business. Sony said it will write down $976 million in the third quarter, blaming weaker film profits as online streaming services sap demand for movie DVDs.

Sony said it had cut its outlook for earnings from DVD, blu-ray discs and other home entertainment in line with a market decline.

http://www.techeye.net/business/sony...-at-the-movies