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Sony Corp

BUSINESS
September 3, 2001 | From Bloomberg News
Sony Corp. said today it expects to weather the global economic slowdown without firing tens of thousands of workers, as its Japanese rivals must, because it is already cutting costs and has closed many of its factories. "We took those measures years ago," said Kunitake Ando, president of the second-largest consumer electronics maker. "We don't need to rush a restructuring like others are doing in such a hurry."
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NEWS
November 17, 1989 | NINA J. EASTON, TIMES STAFF WRITER
Sony Corp. has agreed to hand over assets worth several hundred million dollars to Warner Bros. so that it can hire two prominent Hollywood producers to run its newly acquired Columbia Pictures Entertainment studio.
BUSINESS
March 31, 2000 | From Times staff and wire reports
Sony Corp., the world's second-largest maker of consumer electronics, is unifying its U.S. entertainment assets under a new banner to make it easier to form alliances, make acquisitions and broaden the distribution of its content on the Internet. Expanding on existing e-commerce initiatives in Japan, the company also is forming an online bank with J.P. Morgan & Co. and Sakura Bank Ltd. that will target individual depositors and sell loans and other retail banking services to the Japanese public.
BUSINESS
January 27, 2006 | Dawn C. Chmielewski, Times Staff Writer
Sony Corp.'s attempts to turn around its electronics business paid big dividends during the holiday season, putting the company solidly in the black with record results in a quarter in which it had warned of a loss. Strong sales of Sony's new Bravia liquid crystal display TVs and its popular PlayStation Portable hand-held game system fueled an 18% rise in fiscal third-quarter profit, to $1.4 billion. Revenue also hit a record, climbing 10% to $20.1 billion.
BUSINESS
May 14, 2002 | ALEX PHAM, TIMES STAFF WRITER
Sony Corp. will slash the price of its popular PlayStation 2 video game console by a third today, potentially sparking a price war with rivals Microsoft Corp. and Nintendo Co. as the three companies jostle for a share of the $27-billion global games market. At the same time, Nintendo said it will break into the online games market by selling a modem for its GameCube console this fall.
BUSINESS
February 23, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
The consumer electronics industry moved a step closer Wednesday to an all-out war over a new digital home video format as Sony Corp. declared that it will push forward with a videodisc technology it proposed in December with Philips Electronics. A rival digital videodisc technology developed by Toshiba Corp. and Time Warner Inc. and unveiled last month has gained the backing of a number of key players--including Matsushita Electric Industrial Co., Pioneer Electronic Corp. and Hitachi Ltd.
BUSINESS
November 30, 1988 | AL DELUGACH, Times Staff Writer
Sony Corp., the Japanese electronics giant that aspires to own a Hollywood movie studio, confirmed Tuesday that it has tried to acquire MGM/UA Entertainment Co. but backed off from the price tag--reportedly about $1 billion. Negotiations, which had driven up MGM/UA's stock price by 33% in the past three weeks, were broken off at the end of last week. MGM/UA's shares began to sink before official word that the negotiations had reached an impasse. The stock lost $1.
BUSINESS
June 28, 2004 | James Bates and Claudia Eller, Times Staff Writers
Sony Corp. is having trouble finalizing its prospective $5-billion bid for Metro-Goldwyn-Mayer Inc. and is struggling to work out the details of a complicated financing formula, people familiar with the situation said. That hitch probably means that any decision on a formal offer could be put off until next month, they said.
BUSINESS
June 2, 2004 | David Colker, Times Staff Writer
Sony Corp. said Tuesday that it would introduce no new models of its Clie hand-held computer in the United States this year, effectively killing a product line launched four years ago as a way to organize music, movies and photos on the go. The electronics and entertainment giant denied it was abandoning the Clie -- or the 3.5 million customers who bought one -- but Todd Kort, analyst at technology research firm Gartner Inc., said Sony would probably let the device die quietly.
BUSINESS
December 30, 1999 | JAMES F. PELTZ, TIMES STAFF WRITER
After languishing for years, consumer electronics giant Sony Corp. and its stock are again showing the heady growth that made the Japanese company a household name around the globe. Sony is enjoying an earnings spurt lately--if one excludes the negative impact of the Japanese yen's rising value against the dollar and other major currencies.
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