Sony Warns It Will Take $1 Billion Writedown, Blames Slowing DVD Sales (reuters.com)

Posted by msmash on Monday January 30, 2017 @06:05AM from the sloppy-dvd-sales dept.

Sony has warned investors that it will take roughly $978m writedown on its film business, blaming a goodwill impairment charge that dates back to an acquisition of a Hollywood studio almost three decades ago. From a report on Reuters: The impairment charge came as Sony cut its outlook for profits from DVD, blu-ray discs and other home entertainment operations in line with a broader market decline, the company said in statement on Monday. Sony has been working to revive its movie business. In November, the Japanese conglomerate's chief financial officer, Kenichiro Yoshida, said a turnaround was "progressing, but it takes time for the benefit to be realized."

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Subject line smells by theendlessnow · 2017-01-30 06:29 · Score: 3, Interesting

DVD sales are "ok", because the media and platform doesn't suck like Blu-ray. Sony needs to pay big time for the death sentence they gave Blu-ray. Very very bad business decision. The paid their way in, and then locked it down to make it unusable.

Subject line should read: "Sony Warns It Will Take $1 Billion Writedown as their Vision of the Future Sucked"