Sony Takes $1 Billion Writedown in Movie Business

Sony is facing challenges in its Hollywood business, with underperforming films like Ghostbusters and Angry Birds, and a decline in DVD and Blu-ray sales. To address these issues, Sony is selling a stake in its successful M3 business to Goldman Sachs. Despite these challenges, Sony's PlayStation and smartphone camera divisions are performing well. The CEO is focusing on turning around the Hollywood segment by recruiting new leadership.

What were some of the challenges Sony faced in their Hollywood business?

• Decline in online streaming

• Successful movie releases

• Unsuccessful movie releases and declining DVD sales

• Increase in Blu-ray sales

What strategic move did Sony make to address its financial challenges?

• Launched a new gaming console

• Acquired a new film studio

• Sold a stake in M3 to Goldman Sachs

• Invested in new movie projects

What is M3, the company in which Sony sold a stake?

• A film production company

• A medical services website

• A gaming console manufacturer

• A smartphone camera producer

Which of the following is a successful area of Sony's business?

• Hollywood movie production

• DVD sales

• Smartphone camera manufacturing

• Blu-ray production

What action is Sony's CEO planning to take to improve the Hollywood division?

• Increase DVD production

• Expand into new markets

• Launch a new movie franchise

• Recruit a new head for the business