Sony denies potential sale of its publishing arm

SonyATV canvasAmid the public relations nightmare of Sony getting hacked last month, sleuths found email correspondence among top brass discussing the potential sale of Sony/ATV. Since then, Sony Entertainment CEO Michael Lynton stated in an interview with Bloomberg that the company is not considering a sale of the publishing arm. Sony/ATV’s Chairman and CEO Martin Bandier also issued a memo to his team reassuring them that the parent company was not selling off the division.

The leaked emails indicated concerns about Sony/ATV’s performance and growth potential in light of the move to streaming music. But, as Bandier wrote in his memo, “We have just had our best year ever both creatively and financially and without a doubt we are the world’s leading and best music publisher with more great things set to come over the next 12 months. Who wouldn’t want to own a company like that, including Sony Corporation?”

Anna Washenko