Sony’s Kazuo Hirai Says Third Point Campaign Was “A Good Thing”

Hedge-fund investor Dan Loeb’s campaign to persuade Sony to spin off part of its entertainment business was beneficial for the company, Chief Executive Kazuo Hirai said, making one of his first public comments since rejecting the proposal. Sony is better off holding on to all of its movie and music businesses, Hirai said, but he agreed with a few of the billionaire investor’s other points. Loeb’s Third Point LLC wanted to take up to 20 percent of Sony’s entertainment arm public.

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