Sony Corp. is reportedly listening to bank pitches about the potential sale of its TV and film business, according to The New York Post, which cites multiple sources.
“’Every bank is pushing pitches,’ said one person familiar with the process. Another confirmed that banks have paid a flurry of visits to Tokyo to advise on a sale of Sony’s film and TV business,” the story reports.
“CBS CEO Leslie Moonves has long signaled interest in acquiring the asset, though several Chinese bidders could be in the wings,” The Post reports, adding: “Sony CEO Kaz Hirai has denied any intent to sell the firm during the five years he’s been in the top slot at the company.”
The report notes that Hirai has not appointed a successor to outgoing Sony Entertainment boss Michael Lynton, even though it has been known for some time that Lynton is headed out. That situation has fueled speculation that there may be no position to fill, The Post adds.