Quote:
Originally Posted by speakingtohe
489 million has got to be a big owee especially if ongoing.
Helen
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Yup. Ongoing. And that's on the low side for their annual losses.
They've been bleeding and selling units and properties for most of this century.
The only times they make much money is when the Spiderflicks come out, which is why Disney hasn't been able to buy the rights back.
Very long story of corporate hubris.
http://kotaku.com/5960411/how-sony-i...ound-the-world
http://www.briansolis.com/2013/12/th...tal-darwinism/
Two years ago their FY2012 losses ran in the $5B range and that was dollars.
Short version:
1- Severe case of Not-invented-here syndrome
2- Total misread on what digital HDTV meant (versus Japan's pre-existent analog HD) led them to bet on every TV display tech *except* LCD.
3- Rogue operator exec, Kutaragi, gold-plated the PS3 into 5 years of massive losses out of what used to be a cash cow.
4- Totally missed out on digital music.
5- Vertical integration at a time of outsourcing and virtual companies.
Edit: Hmm, if it goes on a bit longer, maybe Disney *will* be able to buy back the movie rights.