Sony May Sell Off Columbia Pictures?

Sony Pictures Entertainment has been having a bad run in the last few years, with 2016 seeing few successes. Hopefuls like “Passengers” and the “Ghostbusters” reboot fizzled, while its biggest overall success was “The Angry Birds Movie” with $350 million worldwide.

With just an 8% market share last year and the recent departure of Sony Entertainment CEO Michael Lynton – it seems something more serious may be in the works.

The New York Post reports that bank agents have recently visited Tokyo to advise on selling some of Sony Entertainment’s properties with CBS CEO Lesile Moonves and Chinese investors reportedly all expressing interest in potentially acquiring both Columbia Pictures and Sony’s TV division.

Their source says Sony is waiting till the end of the summer to make a final decision with the box-office performances of both “The Emoji Movie,” and surprisingly to a lesser extent “Spider-Man: Homecoming,” coming into account as it could allow the studio to charge a higher price in any potential sale.

Sony CEO Kazuo Hirai is downplaying the report though, saying recently (via “We see our entertainment businesses as essential parts of Sony.” Whatever happens both Sony Music and its PlayStation divisions are huge success for the company and aren’t going anywhere.