Sony (NYSE: SNE) will benefit from the extraordinary launch of Men In Black’s third installment–MIB3. Worldwide sales for the Memorial Day weekend were $203 million. Estimates of the cost of the film have been over $250 million. The movie should blow past that number this week. Sony could use the help. Its studio is one of the few divisions that might throw off a profit for the corporate parent which has lost money for four years in a row.
The architect of that set of disasters, Sir Howard Stringer, has finally given up as CEO. A lift in studio profits will have to be followed by turnarounds at its game console, PC, cellphone, and TV divisions, which will require extraordinary management land luck. In the meantime, Sony can brag that it has one success even if that success has nothing to do with its core businesses.
Douglas A. McIntyre
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