Sony to sell New York Headquarters for $1.1B

Sony logoSony has announced that it will be selling off its 37-story New York headquarters to a group of investors led by the Chetrit Group. The deal will see the building sold for $1.1 billion and Sony says that it will generate net cash proceeds of about $770 million after it pays debit associated with the building and other costs associated with deal.

Sony won't be moving out of the building, however; Bloomberg reports that Sony will remain in the building for up to three years.

Sony to sell New York Headquarters for $1.1B

Sony continues to face difficult times as it sells assets and slashes jobs as it battles its fourth straight year of losses. Things are looking up a bit for Sony as it is predicting $223 million (¥20 billion) in profit for the fiscal year ending March 31.

That isn't a lot of profit for Sony, but it's vastly improved from the ¥457 billion loss Sony posted in the previous fiscal year. Sony did note that it would be reevaluating its forecast for its fiscal year after the sale of the building.

The sale of Manhattan property saw Sony's stock price rise 12% to close at ¥1149 per share at the close of Tokyo trading. That marks the biggest gain for Sony stock since October 14, 2008.

Source: DailyTech

Tags: Sony

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Consumer group recommends iPhone 8 over anniversary model
 
LTE connections wherever you go and instant waking should come to regular PCs, too
 
That fiction is slowly becoming a reality
 
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
 
Human moderators can help make YouTube a safer place for everyone
 
Google says Progressive Web Apps are the future of app-like webpages
 
All 2018 models to sport the 'notch'
 
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)