Sony Entertainment looks to cut $100 million-plus

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by Associated Press

Associated Press

Posted on November 19, 2013 at 8:00 AM

Updated Tuesday, Nov 19 at 8:04 AM

LOS ANGELES (AP) — Sony Entertainment, the movie and music arm of Sony Corp., is looking to cut at least $100 million in costs and has hired consulting firm Bain & Co. to conduct a review of its operations.

That's according to a person familiar with the matter who wasn't authorized to speak publicly about the matter since the review is not complete.

The review comes as Sony prepares to discuss its entertainment business with investors in a push to become more transparent as a company.

Sony CEO Kazuo Hirai and Sony Entertainment CEO Michael Lynton are to speak to investors at the Sony Pictures lot in Culver City, Calif., on Thursday.

In the quarter through September, the movie studio lost about $181 million.

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