Sale of Gracenote, Inc. by Sony Corporation of America
April 20, 2014     Japanese 
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Sale of Gracenote, Inc. by Sony Corporation of America - JCN Newswire
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Sale of Gracenote, Inc. by Sony Corporation of America

Tokyo, Dec 24, 2013 - (JCN Newswire) - Sony Corporation of America, a wholly-owned subsidiary of Sony Corporation ("Sony"), today announced that it has entered into an agreement to sell all of the shares of Gracenote, Inc., which is a wholly-owned subsidiary of Sony Corporation of America, to Tribune Company for $170 million subject to standard adjustments.

Sony expects to record a gain within operating income of approximately $60 million at the completion of the sale, based on the above sale price, subject to standard adjustments. Sony included an anticipated gain from this sale in the forecast for the fiscal year ending March 31, 2014, which was announced on October 31, 2013.

Sony expects this sale to close prior to March 31, 2014 subject to receipt of certain regulatory approvals.

About Sony

Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and online businesses, Sony is uniquely positioned to be the leading electronics and entertainment company in the world. Sony recorded consolidated annual sales of approximately $72 billion for the fiscal year ended March 31, 2013. Sony Global Web Site: http://www.sony.net/.

Contact:

Sony Corporation
Corporate Communications
T: +81-3-6748-2200
E: sony.pressroom@sony.co.jp

 


Dec 24, 2013
Source: Sony

Sony (TSE: 6758) (FTSE: 6758q) (U.S: SNE)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
View more news from these Sectors: Electronics General, Games & Entertainment, Consumer Electronics


 
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