Snap Inc (SNAP. N), owner of the popular messaging app Snapchat, set a lower-than-expected valuation range on Thursday, amid mounting investor concern over its unproven business model, slowing growth and tight founder control. The company, which filed for an initial public offering earlier this month, was widely expected to be valued at between $20 billion … Read more
Sony has taken a hefty writedown on the value of its movie business as the unit suffers from falling DVD and home entertainment sales. It has taken a 112bn yen ($1bn; £780m) charge, citing “an acceleration of market decline”. The rise of online streaming services has hit demand for traditional media such as DVDs and … Read more
Sony has taken a hefty writedown on the value of its movie business as the unit suffers from falling DVD and home entertainment sales. It has taken a 112bn yen ($1bn; £780m) charge, citing “an acceleration of market decline”. The rise of online streaming services has hit demand for traditional media such as DVDs and … Read more
Michael Lynton is stepping down from his position as CEO of Sony Entertainment, the film, television and music conglomerate, to serve full-time as chairman of the board of social-media power Snapchat. The move, announced Friday in an email by Lynton to Sony staff, will happen in six months. It is unclear who will replace him. … Read more
Sony Entertainment Chief Executive Michael Lynton will step down to become chairman of the board of messaging app owner Snap Inc, a move that puts an experienced Hollywood executive in a prominent role as the technology company prepares for an initial public offering. Lynton will give up his current position at Sony’s movie and television … Read more