U.S. hedge fund calls for Sony Entertainment spin-off

TOKYO (Reuters) - A New York-based hedge fund with a reputation as an activist investor has proposed that Sony Corp spin off its entertainment division via an IPO, saying the move could boost the Japanese electronics firm's shares by as much as 60 percent. An IPO of Sony Entertainment, which includes one of Hollywood's leading film studios and one of the world's biggest music labels, would generate funds for Sony's electronics business and help reduce its debt held by the electronics company, Third Point said. ...

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