Sony has taken a hefty writedown on the value of its movie business as the unit suffers from falling DVD and home entertainment sales.<\/p>\n
It has taken a 112bn yen ($1bn; \u00a3780m) charge, citing “an acceleration of market decline”.<\/p>\n
The rise of online streaming services has hit demand for traditional media such as DVDs and blu-ray discs.<\/p>\n
Sony’s movie division has also struggled, with recent flops including an all-female Ghostbusters sequel.<\/p>\n
Sony had warned earlier this year its movie division could post more losses.<\/p>\n
The Japanese firm, which reports its third-quarter results on Thursday, is still assessing whether the impairment charge will affect future earnings.<\/p>\n
It plans to offset the loss by selling shares in medical web service M3.<\/p>\n
The head of Sony’s entertainment business, Michael Lynton, recently announced he would be stepping down in February after more than a decade at the firm.<\/p>\n
–<\/p>\n
Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"
Sony has taken a hefty writedown on the value of its movie business as the unit suffers from falling DVD and home entertainment sales. It has taken a 112bn yen ($1bn; \u00a3780m) charge, citing “an acceleration of market decline”. The rise of online streaming services has hit demand for traditional media such as DVDs and […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[106],"tags":[],"class_list":["post-289778","post","type-post","status-publish","format-standard","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/289778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=289778"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/289778\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=289778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=289778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=289778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}