Sony takes $1bn writedown on movie business January 30, 2017 - 17:14 AMT PanARMENIAN.Net - Sony has taken a hefty writedown on the value of its movie business as the unit suffers from falling DVD and home entertainment sales, BBC News reports. It has taken a 112bn yen ($1bn) charge, citing "an acceleration of market decline". The rise of online streaming services has hit demand for traditional media such as DVDs and blue-ray discs. Sony's movie division has also struggled, with recent flops including an all-female Ghostbusters sequel. Sony had warned earlier this year its movie division could post more losses. The Japanese firm, which reports its third-quarter results on Thursday, is still assessing whether the impairment charge will affect future earnings. It plans to offset the loss by selling shares in medical web service M3. The head of Sony's entertainment business, Michael Lynton, recently announced he would be stepping down in February after more than a decade at the firm. Related links:   Top stories Azerbaijani authorities report that they have already resettled 3,000 people in the Nagorno-Karabakh town of Stepanakert. On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive.   Partner news |  Related sections Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesArmenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats.Balance of attached cards in the Idram&IDBank app From now on, users will be able to view the online balances of cards issued by ArCa system banks and attached to the app. |
