New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 18, 2013
04:57 EDTSNESony Corporation of America sells 550 Madison Avenue building for $1.1B
Sony Corporation of America, or SCA, a wholly-owned subsidiary of Sony, announced that it has entered into a contract to sell its U.S. headquarters building, located at 550 Madison Avenue in New York City, to a consortium led by The Chetrit Group, a New York-based owner of commercial properties in New York City and other major US real estate markets. The sale price is $1.1B, and it is expected that the transaction will close in March. SCA and other Sony businesses, including Sony Music Entertainment, Sony/ATV Music Publishing and Sony Pictures Entertainment, among others, will remain in the building for up to three years under a leaseback arrangement with the purchaser. After repaying debt related to the building and other transaction costs, it is expected that Sony will receive net cash proceeds of approximately $770M. Sony expects to realize a gain on the sale of approximately $685M to be recorded as operating income. Sony is currently reevaluating its forecast of the consolidated financial results for the current fiscal year ending March 31 to take into account this sale and other factors that might affect such forecast.
News For SNE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 27, 2015
07:10 EDTSNESony mobile unit to 'tweak' pricing, cut costs due to dollar rise, Reuters says
Subscribe for More Information
May 26, 2015
15:31 EDTSNEMicrosoft expands OEM partners, Sony tablet to include pre-installed Office apps
Subscribe for More Information
May 24, 2015
16:11 EDTSNESony to hold a meeting
Sony IR Day 2015--Electronics is being held in Tokyo, Japan on May 27 at 1 am. Webcast Link
May 21, 2015
06:42 EDTSNESony establishes UK studio to work on Morpheus games, GameSpot reports
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use