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.
<BR /><BR />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 on-line businesses, Sony is uniquely positioned to be the leading electronics and entertainment company in the world. Sony recorded consolidated annual sales of approximately $79 billion for the fiscal year ended March 31, 2012. Sony Global Web Site: http://www.sony.net/
Sony Corporation Corporate Communications T: +81-3-6748-2200 E: firstname.lastname@example.org
Copyright 2013 JCN Newswire. All rights reserved. www.japancorp.net
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here