Hiroki Totoki, CFO of Sony Group, has sad during a press conference last week that the format holder is looking to further expand its entertainment business, which includes pursuing more mergers and acquisitions for PlayStation Studios.
That’s according to a report in the Financial Times, which points out that Sony has been spending large sums of cash over the pas few years that includes the purchase of EMI Music Publishing ($2.3 billion) and Crunchyroll ($1.2 billion). In addition, the company also forked out $3.6 billion to acquire former Halo developer, 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. Consolidation in entertainment has been happening and Sony doesn’t want to be left behind.
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In related news, Sony Interactive Entertainment boss Jim Ryan said that the console maker is looking to maintain its staggered release of PC versions of its PlayStation-exclusive titles.
[Source – Financial Times via PSLS]