Sony Corporation is looking to free up more funds to aggressively expand its entertainment business, which includes PlayStation Studios mergers and acquisitions. According to a report by Financial Times, Sony Group CFO Hiroki Totoki said at a press conference last week that the company is considering spinning off its financial services arm to boost investments in its entertainment business.
Sony has been eyeing more acquisitions for PlayStation Studios
Totoki’s comments hardly come as a surprise. As Financial Times points out, the company has been on a spending spree for a number of years that saw the purchase of EMI Music Publishing for $2.3 billion and Crunchyroll for $1.2 billion. On the PlayStation front, Sony spent a whopping $3.6 billion to purchase Bungie.
“In order to expand our growth over the medium to longer term, we will need the ability to invest in image sensors and the entertainment business at a completely new level,” Totoki said last week. “Consolidation in entertainment has been happening and Sony doesn’t want to be left behind.”
Numerous analysts have theorized that should Microsoft’s purchase of Activision Blizzard go through, it’ll pave way for Sony to make more significant purchases within the games industry.
