March 17, 2014 |
Layoffs are underway at Sony Pictures Entertainment, the Sony Corp.-owned film and television studio that vowed late last year to significantly reduce its overhead. The cuts, which began Monday and will continue this week, include employees at divisions throughout the studio, according to a source with knowledge of the matter. The layoffs were felt at the studio's Culver City headquarters and at international offices. Among the divisions said to be deeply affected by the staff reductions is Sony Pictures Interactive, the studio's digital marketing arm. "We are continuously evolving the business to make SPE more efficient and competitive," Sony Pictures spokesman Charles Sipkins said in a statement. PHOTOS: Behind the scenes of movies and TV At an investors conference in November, Sony Pictures executives outlined $250 million in budget cuts that were already underway.
March 4, 2014 |
Sony Pictures Entertainment will make a horror film centered on the mysterious death of Canadian tourist Elisa Lam, whose body was found inside a water tank at downtown's Cecil Hotel. The project is based on a screenplay by Brandon and Phillip Murphy titled "The Bringing. " It was acquired by Sony Pictures and Matt Tolmach Productions. The 21-year-old Lam's body was recovered Feb. 21, 2013. Her death was ruled an accidental drowning by the coroner, though surveillance video from the hotel's elevator that showed Lam acting oddly sparked conspiracy theories about the incident.
February 6, 2014 |
Sony Pictures Entertainment reported a profit of $231 million in the fiscal third quarter ending Dec. 31, a significant improvement from the previous quarter, when it lost $181 million. However, the film and television studio's profit was down 4.2% from the same period a year ago. Revenue was up 7.1% to $2.131 billion. Sony Pictures, a unit of Tokyo-based Sony Corp., is in the midst of a major cost-cutting initiative. The studio has said it will slash at least $350 million in overhead, and has been laying off employees.
January 24, 2014 |
"Lean In," the bestselling nonfiction book by Facebook executive Sheryl Sandberg about the dearth of women leaders in the corporate world and what can be done about it, is on its way to the big screen. Sony Pictures has obtained film rights to "Lean In" and tapped Nell Scovell, who helped Sandberg pen the book, to write the script, Deadline reports . Scovell is also a veteran TV writer and director whose credits include "Murphy Brown," "Sabrina the Teenage Witch" and "Monk.
January 15, 2014 |
For much of last year, Amy Pascal was under fire. The co-chair of Sony Pictures Entertainment presided over two of last year's big-budget bombs, "After Earth" and "White House Down. " Her studio reported losses of $181 million for the summer months. Activist investor Daniel Loeb hammered Pascal's division, demanding an end to the "free passes" Sony studio executives got when their films disappointed and calling on parent company Sony Corp. to spin off part of its entertainment business.
January 13, 2014 |
Sony Pictures Entertainment led all studios with four Golden Globe wins in film categories on Sunday night. The studio's haul included three awards for "American Hustle," which had been nominated in seven categories. Sony Pictures, a unit of Sony Corp., led the pack with 15 nominations in movie categories. "American Hustle" took home the awards for best motion picture, musical or comedy; best actress in a motion picture, musical or comedy (Amy Adams); and best supporting actress in a motion picture (Jennifer Lawrence)