Sunday, November 04, 2007

Sony Pondering Sale

Click on the title for a link to a story that appeared in the New York Times on Halloween. In short, it says that not only Sony Imageworks, but SPA are possibly up for a partial sale.

I'm not sure what to make of this. If you can believe what is written, I guess Sony is looking for some financial relief. For years, Imageworks has been having a more and more difficult time keeping afloat with the under bidding going on the for-hire effects jobs. And with SPA's films not performing as high as hoped, I guess there is some consideration being given to selling portions of the companies.

I don't really have any comments other than it doesn't really surprise me. From what little I've heard over the last year, these guys are hurting. They are looking for ways to cut costs (India and New Mexico) and selling portions off is a quick way to bring in some money.

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