Sony is to cut $250 million from its movie division

One of Sony’s biggest shareholders has pleaded with the company to detach Sony Entertainment from the Japanese company and offer it up on the stock market as a standalone business. CEO Hirai declined the idea but still acknowledged that Sony’s movie division is in need of a change.

Under Kaz Hirai’s leadership, Sony has seen its mobile business turn into a profit driver and its mirrorless cameras competing with professional-class DSLRs. While Sony’s hardware manufacturing credentials have been restored, however, other parts of the company remain in a troubled state. Chief among them is the entertainment division, which Sony is announcing plans to restructure and downsize in the wake of some outspoken criticism and mounting losses.

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