clock menu more-arrow no yes mobile

Filed under:

Sony president wants to keep electronics and entertainment unified, shareholders meeting on June 20

Sony president and CEO Kazuo Hirai believes the company's electronics and entertainment units should be kept together and said the company's new board will hold a shareholders meeting on June 20 to discuss Third Point's call for the sale of its entertainment division, according to Nikkei.

In May, the CEO of Sony's "largest owner" Third Point LLC, Dan Loeb, wrote an open letter to Hirai calling for the company to sell over 20 percent of the Sony Entertainment division to increase performance. "Sony Electronics has suffered frustrating results for the past decade, brought about by low margins, persistent losses, and weak returns on capital," Loeb wrote at the time.

Last week, Sony announced that its PlayStation 4 will cost $100 less than Microsoft's Xbox One and will not have Microsoft's independent developer self-publishing restrictions and anti-consumer licensing policy. Late last month, Hirai said the PlayStation 4 is "first and foremost a video game console" during a D: All Things Digital conference. Following the companies respective E3 press conferences, EA chief operating office Peter Moore, said a dominant console would be "terrible news for the industry."

Sign up for the newsletter Sign up for Patch Notes

A weekly roundup of the best things from Polygon