Sony says board still discussing Third Point's proposals

08/01/2013

TOKYO, Aug 1 (Reuters) - Japan's Sony Corp said on Thursday that its board is still discussing proposals from hedge fund Third Point to spin off the group's money-making entertainment arm to free up cash to revive the electronics business.

The electronics company said it is receiving input from financial advisors and will make the decision on Third Point's proposal after a thorough discussion.

The company is under pressure from activist shareholder Daniel Loeb, whose Third Point is proposing that Sony spin off as much as a fifth of the group's entertainment arm - movies, TV and music.



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