Tuesday, March 08, 2005

WSJ.com - Past as Prologue: New CEO to Seek Synergies

WSJ.com - Past as Prologue: New CEO to Seek Synergies: "The appointment of Howard Stringer as Sony Corp.'s chairman and chief executive Monday marks a turn of events that many thought would never happen: the company's entertainment units are stealing the limelight from Sony's core consumer-electronics operations.
Just a decade ago, Sony's Hollywood misadventures were marked by a staggering $3.2 billion write-off related to its struggling movie studio. These days, Sony's increasingly profitable music and filmed entertainment divisions are providing the means for the Japanese electronics giant to pull itself out of a protracted malaise.
Since Mr. Stringer, a onetime television producer, was named chairman and chief executive of Sony's U.S. division in 1998, the unit has cut 12,000 jobs and saved $700 million in costs, according to people close to the company. Longtime executives were sacked; new hires with more varied media-industry experience were installed."

Want synergies? Merge with Apple -- and Pixar as well, while you're at it...
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