Why Sony Won’t Become the Next Yahoo
When U.S. hedge-fund investor Daniel Loeb said he had become Sony’s biggest shareholder in May, the media, investors and more than a few Sony employees braced for a knock-down, drag-out fight like the battle Mr. Loeb engaged in at Yahoo Inc.
While Mr. Loeb’s Third Point fund expressed disappointment Tuesday that Sony rejected his proposal to sell part of its entertainment business, there are growing signs that, whatever happens, it won’t be a sequel to his proxy fight at Yahoo.