(May 22, 2013) Sony Corporation’s chief executive, Kazuo Hirai, confirmed that the board is considering a proposal from hedge fund Third Point—one of the company’s key investors—to spin off its Sony Pictures Entertainment business. The division had a strong Q4 2012, with revenues up 11 percent to $7.8 billion and an operating profit of $509 million, a 40-percent gain. While the company as a whole returned to a profit in the quarter, its electronic businesses have struggled.
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