ENTERTAINMENT
May 14, 2013 | By Joe Flint
After the coffee. Before the ESPN and ABC upfronts. The Skinny: I got through the day without any pizza. Let's see if I can make it two in a row. Tuesday's headlines include Fox's new TV schedule for next season. Also, a hedge fund manager is pressuring Sony to split its entertainment assets from the rest of the consumer electronics giant. If you are interested in receiving an email alert when the Morning Fix is live, please send me a note . Daily Dose: Scott Sassa, the former president of Hearst Entertainment & Syndication who exited his job earlier this year after racy text messages between him and a young woman were sent to his bosses and leaked to the media, has landed a new gig. Sassa was named vice chairman of the El Rey Network, a new cable channel being launched by director Robert Rodriguez later this year.
BUSINESS
May 14, 2013 | By Daniel Miller and Meg James, Los Angeles Times
Sony Corp. stock soared in afternoon trading after New York hedge fund Third Point proposed that the electronics and media giant make an initial public stock offering of up to 20% of its entertainment arm. That unit, known as Sony Entertainment Inc., includes film and television studio Sony Pictures Entertainment, Sony/ATV Music Publishing and Sony Music Entertainment. The proposal also raised the specter of a possible Sony alliance - perhaps with CBS Corp., whose CEO Leslie Moonves has long dreamed of running a movie studio.
ENTERTAINMENT
May 14, 2013 | By Gerrick D. Kennedy
After switching from a major label to go independent, Solange Knowles is returning to a traditional label -- sorta. The singer-songwriter-model has announced that she is starting her own imprint called Saint Records. It will be distributed through Sony. Knowles took to Twitter to make the announcement early Tuesday after reports surfaced that she had signed a deal with Columbia (which is owned by Sony). Saint Records is where “I'll be releasing my full length album, and also future music projects that I'm excited about sharing," she tweeted . RELATED: Interview with Solange Knowles Fans, and critics, have awaited a proper full-length from Knowles since she broke out with her 2012 EP, “True.” Her slow sonic evolution has been a captivating one to watch since she released her 2003 debut of inoffensive pop-R&B.
ENTERTAINMENT
May 14, 2013 | By Meg James
New York hedge fund manager Daniel Loeb wants Japanese electronics giant Sony Corp. to spin off its Culver City entertainment business. CBS Corp. might like that, too. Loeb, whose Third Point funds own more than $1 billion in Sony stock, sent a letter Tuesday to Sony's chief executive, Kazuo Hirai, suggesting an initial public offering of 15% to 20% of Sony Pictures Entertainment. ON LOCATION: Where the cameras roll Sony said that its Hollywood operations are not for sale, and a CBS corporate spokesman declined to comment on "rumor and speculation.
ENTERTAINMENT
May 14, 2013 | By Daniel Miller
Observers spent Tuesday morning reading Sony Corp.'s tea leaves in the aftermath of a hedge fund's proposal that the company take its entertainment arm public. Sony's stock soared about 10% in afternoon trading after New York hedge fund Third Point proposed that the electronics and media giant make a public offering of up to 20% of Sony Entertainment Inc. That unit includes film and television studio Sony Pictures Entertainment, Sony/ATV Music Publishing and Sony Music Entertainment. Brian Wieser, a senior analyst with Pivotal Research Group, said that there is "good value inside of Sony Pictures," but noted that some investors may not be aware of the strengths of the company -- which extend beyond its film business -- because it is part of a large corporation.
BUSINESS
May 13, 2013 | By Salvador Rodriguez
Knowing there's a lot of interest in waterproof smartphones, Sony has been coming out with devices that not only can survive an accidental drop in the toilet but actually be used underwater. It's latest, the Xperia ZR, can even record HD video while submerged. The Japanese tech company said the phone, unveiled Monday, can be nearly 5 feet underwater for up to 30 minutes. The device can go in only fresh water, so users can't take it with them into the ocean where saltwater can corrode the phone.