Third Point Responds to Sony Rejection

After Sony rejected its proposal to spinoff entertainment assets, Third Point late Monday issued a statement that they intend to “explore further options to create value for shareholders.”

But the hedge fund also said that it “welcomes Sony’s commitment to greater transparency and expects this will foster a culture of accountability.” While saying they were “disappointed” that Sony did not movie forward with an offering of up to 20% of its entertainment assets, Third Point seemed to indicate that it is willing to see how Sony CEO Kazuo Hirai’s pledge to improve margins and  provide additional disclosure transpires.

“Sony has clearly recognized the performance issued we identified,” Third Point said in a statement. “In the new spirit of transparency, management should communicate more specific plans to improve entertainment results. A renewed focus on profitability and better margins should reduce bureaucracy and thus free up resources to invest in high quality motion pictures, filmed entertainment, networks and music, aligning shareholder interests, the creative community and consumers.”

More Film

  • James L Brooks

    James L. Brooks to Be Honored With Laurel Award by Writers Guild

    After Sony rejected its proposal to spinoff entertainment assets, Third Point late Monday issued a statement that they intend to “explore further options to create value for shareholders.” But the hedge fund also said that it “welcomes Sony’s commitment to greater transparency and expects this will foster a culture of accountability.” While saying they were […]

  • Fifty Shades Freed Trailer

    'Fifty Shades Freed,' Gabrielle Union's 'Breaking In' Build Social Media Buzz

    After Sony rejected its proposal to spinoff entertainment assets, Third Point late Monday issued a statement that they intend to “explore further options to create value for shareholders.” But the hedge fund also said that it “welcomes Sony’s commitment to greater transparency and expects this will foster a culture of accountability.” While saying they were […]

  • Swedish Comedy 'Solsidan' Smashes Scandinavian Box

    Swedish Comedy 'Solsidan' Smashes Scandinavian Box Office

    After Sony rejected its proposal to spinoff entertainment assets, Third Point late Monday issued a statement that they intend to “explore further options to create value for shareholders.” But the hedge fund also said that it “welcomes Sony’s commitment to greater transparency and expects this will foster a culture of accountability.” While saying they were […]

  • HBO Buys Sundance Doc 'Price of

    Sundance: HBO Buys Art Documentary 'Price of Everything'

    After Sony rejected its proposal to spinoff entertainment assets, Third Point late Monday issued a statement that they intend to “explore further options to create value for shareholders.” But the hedge fund also said that it “welcomes Sony’s commitment to greater transparency and expects this will foster a culture of accountability.” While saying they were […]

  • USC Scripter Awards Finalists 2018: 'Wonder

    'Wonder Woman,' 'Lost City of Z,' 'Big Little Lies' Among USC Scripter Finalists

    After Sony rejected its proposal to spinoff entertainment assets, Third Point late Monday issued a statement that they intend to “explore further options to create value for shareholders.” But the hedge fund also said that it “welcomes Sony’s commitment to greater transparency and expects this will foster a culture of accountability.” While saying they were […]

  • Blade Runner 2049

    'Blade Runner 2049,' 'Game of Thrones' Lead Visual Effects Society Nominations

    After Sony rejected its proposal to spinoff entertainment assets, Third Point late Monday issued a statement that they intend to “explore further options to create value for shareholders.” But the hedge fund also said that it “welcomes Sony’s commitment to greater transparency and expects this will foster a culture of accountability.” While saying they were […]

  • Timothee Chalamet

    Timothée Chalamet Donates Salary From Woody Allen Film to Time's Up, Other Charities

    After Sony rejected its proposal to spinoff entertainment assets, Third Point late Monday issued a statement that they intend to “explore further options to create value for shareholders.” But the hedge fund also said that it “welcomes Sony’s commitment to greater transparency and expects this will foster a culture of accountability.” While saying they were […]

More From Our Brands

Access exclusive content