Sony watch: investor raises stake in 007 distributor

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A major investor in Sony Corp., parent company of Sony Pictures, which released the last three 007 movies, has boosted its stake in the company.

Third Point LLC, controlled by billionaire Daniel Loeb, now holds 9.4 percent of Sony shares, according to a BLOOMBERG.COM STORY. That’s up from 6.5 percent previously.

Third Point wants Sony to sell 20 percent of its entertainment businesses, including Sony Pictures. The unit, through its Columbia Pictures brand, has released Casino Royale, Quantum of Solace and Skyfall from 2006 through 2012. Sony will also release the as-yet-unscheduled Bond 24.

Sony Pictures has been under pressure because it’s not as profitable as other studios, according to a MAY STORY IN THE NEW YORK TIMES despite its interest in 007, Amazing Spider-Man and Men in Black movies.

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