The Deal’s senior telecom, media and technology writer Chris Nolter talked to Activist Investing Today about prospects for acquiring Sony’s entertainment assets now that Third Point’s Dan Loeb seems out to shake things up at the Japanese multinational.
Nolter noted that Sony owns a major Hollywood studio and that “there just are not that many of them, so it has always been valuable.” Nolter points to a bidding war that led to a sweetened $71 billion sale of Fox’s TV production and other operations to Disney as indicative of potential buyer interest in Sony’s entertainment assets. He explained that Sony could set up a joint venture of sorts as an alternative to a sale. The podcast also weighed other aspects of a potential Third Point campaign, such as a change in management, a governance stewardship code and new Japanese tax laws for spinoffs.
Here’s the podcast: