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Sony sells NYC HQ, but will stay in building for now

Sony has announced that it will be selling off its 37-story New York headquarters to a group of investors led by the Chetrit Group. The deal will see the building sold for $1.1 billion and Sony says that it will generate net cash proceeds of about $770 million after it pays debit associated with the building and other costs associated with deal.

Sony won't be moving out of the building, however; Bloomberg reports that Sony will remain in the building for up to three years.
 
Sony continues to face difficult times as it sells assets and slashes jobs as it battles its fourth straight year of losses. Things are looking up a bit for Sony as it is predicting $223 million (¥20 billion) in profit for the fiscal year ending March 31.

That isn't a lot of profit for Sony, but it's vastly improved from the ¥457 billion loss Sony posted in the previous fiscal year. Sony did note that it would be reevaluating its forecast for its fiscal year after the sale of the building.

The sale of Manhattan property saw Sony's stock price rise 12% to close at ¥1149 per share at the close of Tokyo trading. That marks the biggest gain for Sony stock since October 14, 2008. 

Source: Bloomberg



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RE: Sony sucks
By PeaJay on 1/18/2013 10:38:28 AM , Rating: 1
I had the same problem, bought one on sale at Best Buy - used it for about a year. Then it stopped playing some new BD discs. I was flipping through the setup menus and noticed there was a selection for Network Update. I plugged a cable into the ENet port at the back - downloaded and installed the firmware updates - happy days - I can play all of my new BD discs!

Maybe you're having the same problem?


RE: Sony sucks
By kattanna on 1/18/2013 11:47:28 AM , Rating: 2
same here. it suddenly stopped playing disks from netflix, did the update.. after buying a new cheap blue ray player and it died.. and things are good to go.

it also handles netflix streaming WAY better then that other cheap POS


RE: Sony sucks
By retrospooty on 1/18/2013 12:40:50 PM , Rating: 2
No, Mine was that way from day one, only on certain DVD's. The firmware update at the time didnt fix it, nor did the fw update I did a month ago. It was from best buy though.


RE: Sony sucks
By Omega215D on 1/18/2013 1:20:38 PM , Rating: 2
I've had 2 PS3s so far and both have lens issues without any abuse on my part.

The first one stopped working while in the middle of GT Academy in which I lost a nice opportunity to get more into the racing scene. Sony said I would have to pay for the repairs even though it was barely a year old. Since the PS3 is shared with my brother I had to get another one so he wouldn't complain about not playing his purchased games. Now the new unit is beginning to have some read issues.


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