Huge Sales For “MIB 3”

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By Douglas A. McIntyre Published
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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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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