Sony Pictures Entertainment

From Wikipedia, the free encyclopedia - View original article

Sony Pictures Entertainment Inc.
TypeSubsidiary of Sony[1]
IndustryEntertainment
FoundedDecember 21, 1987 as Columbia Pictures Entertainment, Inc.,[2] renamed Sony Pictures Entertainment, Inc. on August 7, 1991
Headquarters10202 West Washington Blvd., Culver City, California, United States
Area servedWorldwide
Key peopleMichael Lynton
(Chairman & CEO)
Amy Pascal
(Co-Chairman)
Jeff Blake
(Vice Chairman)
ProductsMotion pictures
Television Production
Television Syndication
Online games
Mobile Entertainment
Video on demand
Digital distribution
RevenueIncrease US$ 8.021 billion (FY2011)[3][4]
Operating incomeIncrease US$ 416 million (FY2011)[3][4]
ParentSony Corporation
WebsiteSony Pictures Entertainment
 
  (Redirected from Sony Pictures)
Jump to: navigation, search
Sony Pictures Entertainment Inc.
TypeSubsidiary of Sony[1]
IndustryEntertainment
FoundedDecember 21, 1987 as Columbia Pictures Entertainment, Inc.,[2] renamed Sony Pictures Entertainment, Inc. on August 7, 1991
Headquarters10202 West Washington Blvd., Culver City, California, United States
Area servedWorldwide
Key peopleMichael Lynton
(Chairman & CEO)
Amy Pascal
(Co-Chairman)
Jeff Blake
(Vice Chairman)
ProductsMotion pictures
Television Production
Television Syndication
Online games
Mobile Entertainment
Video on demand
Digital distribution
RevenueIncrease US$ 8.021 billion (FY2011)[3][4]
Operating incomeIncrease US$ 416 million (FY2011)[3][4]
ParentSony Corporation
WebsiteSony Pictures Entertainment

Sony Pictures Entertainment Inc. (SPE) is the American television and film production and distribution unit of Japanese multinational technology and media conglomerate Sony. It is based in Culver City, California and serves as Sony's main global film production and distribution company. Its group sales in the fiscal year 2011 ended March 31, 2012 has been reported to be of $8.021 billion.[4][5]

Throughout the years, SPE has produced, distributed, or co-distributed successful franchises such as Spider-Man, Men in Black, Underworld, and Resident Evil.[6]

Sony Pictures Entertainment is a member of the Motion Picture Association of America (MPAA).[7]

History[edit]

On September 1, 1987, The Coca-Cola Company announced plans to spin-off its assets of Columbia Pictures, which they had owned since 1982. Under this arrangement, Coca-Cola would sell their entertainment assets to Tri-Star Pictures, of which they owned 39.6%. Tri-Star would be renamed to Columbia Pictures Entertainment, Inc. (CPE), with Coca-Cola owning 49%, its shareholders owning 31%, and Tri-Star's shareholders owning 20%.[8][9] A new company was formed in early 1988 with the Tri-Star name to take over the studio's production operations.[10]

On September 28, 1989, Sony Corporation obtained an option to purchase all of The Coca-Cola Company's stock in CPE for $27 per share.[11] The next day, Sony also announced that it reached an agreement with Guber-Peters Entertainment Company, Inc. (NASDAQ: GPEC; formerly Barris Industries, Inc.) to acquire the company for $200 million when Sony hired Peter Guber and Jon Peters to head CPE.[12] It was all led by Norio Ohga, who was the president and CEO of Sony during that time.

Guber and Peters' hiring by Sony to run Columbia was conflicted by a previous contract the producers signed at Warner Bros. Time Warner's chairman, Steve Ross, threatened Sony with a lawsuit for breach of contract. The lawsuit would be subsequently dropped when Sony sold half-interest in Columbia House and cable distribution rights to Columbia's feature films, TV movies, and miniseries to Warners. Said agreement also saw Columbia sell its 35% interest in the Burbank Studios, and acquired Lorimar Studios, previously the MGM lot, from Warner Bros.[13][14]

On October 31, 1989, Sony completed a friendly takeover bid for the rest of shares (51%) of CPE, which was a public company listed on the New York Stock Exchange (NYSE: KPE), and acquired 99.3% of the common stocks of the company. On November 8, 1989, Sony completed the acquisition by a "short-form" merger of its wholly owned subsidiary Sony Columbia Acquisition Corporation into CPE under Delaware law. Sony also completed a tender offer for shares of common stock of the GPEC on November 6, 1989 and acquired the company on November 9, 1989. The acquisition cost Sony $4.9 billion ($3.55 billion for shares and $1.4 billion of long-term debt) and was backed (financed) by 5 major Japanese banks Mitsui, Tokyo, Fuji, Mitsubishi and Industrial Bank of Japan.[15][16][17] The company was renamed Sony Pictures Entertainment on August 7, 1991.[18][19]

Sony has since created numerous other film production and distribution units, such as creating Sony Pictures Classics for art-house fare, by forming Columbia TriStar Pictures (also known as the Columbia TriStar Motion Picture Group) by merging Columbia Pictures and TriStar Pictures in 1998, revitalizing Columbia's former television division Screen Gems. It expanded its operations on April 8, 2005, when a Sony-led consortium acquired the legendary Hollywood studio Metro-Goldwyn-Mayer, in a US$4.8 billion leveraged buyout, through the holding company MGM Holdings Inc.[20][21][22]

On June 4, 2008, SPE's wholly owned group 2JS Productions B.V. acquired Dutch production company 2waytraffic N.V., famous for Who Wants to Be a Millionaire? and You Are What You Eat for £114.3 million ($223.2 million in US dollars).

On November 18, 2012, Sony Pictures announced it has passed $4 billion with the success of releases: Skyfall, The Amazing Spider-Man, 21 Jump Street, Men in Black 3, Hotel Transylvania, Underworld: Awakening, The Vow, and Resident Evil: Retribution.[6]

On November 21, 2013, SPE and Sony Entertainment's CEO Michael Lynton announced that SPE will shift emphasis from movies to television by cutting its 2014 film slate.[23][24][25][26] It was also announced on the same day, that there will be more Spider-Man sequels and spin-offs.[27]

Corporate structure[edit]

Headquartered in Culver City, California, USA, SPE comprises various studios and entertainment brands, including Columbia Pictures, Screen Gems, TriStar Pictures and GSN.

Senior management team[edit]

List of holdings[edit]

Sony Pictures Plaza in Culver City, California

Motion Pictures and Home Entertainment[edit]

Television Production and Distribution[edit]

Other Sony Pictures operations[edit]

Entrance to SPE main lot in Culver City

References[edit]

  1. ^ Outline of Principal Operations, Sony Corporation of America
  2. ^ Sony Pictures Entertainment Inc.: Private Company Information BusinessWeek
  3. ^ a b "Consolidated Financial Results for the Fiscal Year Ended March 31, 2012". Tokyo, Japan: Sony. 14 May 2009. p. 5. Retrieved 7 July 2012. 
  4. ^ a b c FY2011 Consolidated Financial Results
  5. ^ a b c d Sony Pictures – Corporate Factsheet, sonypictures.com
  6. ^ a b ‘Skyfall’s $669.2M Global Helps Sony Pictures Post Best Ever $4B Worldwide deadline.com, Retrieved on November 19, 2012
  7. ^ "Motion Picture Association of America - About Us". MPAA. Retrieved 27 May 2012. 
  8. ^ Dick, Bernard F. (1992) "Columbia Pictures: Portrait of a Studio" (p. 46). The University Press of Kentucky. ISBN 0-8131-1769-0.
  9. ^ "New York Department of State Division of Corporations - Entity Search: Columbia Pictures Entertainment, Inc.". Retrieved 5 August 2013. 
  10. ^ "State of New York Division of Corporations - Entity Search: Tri-Star Pictures, Inc.". Retrieved 5 August 2013. 
  11. ^ "Sony to Buy Columbia, Says Americans Will Run Studio : 1st Sale of Film Maker to Japanese". latimes.com. 27 September 1989. Retrieved 24 September 2012. 
  12. ^ "Funding Universe - Columbia Tristar". Retrieved 24 September 2012. 
  13. ^ Warner, Sony settle suit over producers (November 17, 1989). Los Angeles: Associated Press.
  14. ^ Medavoy, Mike and Young, Josh (2002). You're Only as Good as Your Next One: 100 Great Films, 100 Good Films, and 100 for Which I Should Be Shot (p. 210). New York City: Atria Books
  15. ^ a b Rudolph B (1994) So many dreams so many losses. Time vol. 144, no. 22 (November 28, 1994)
  16. ^ a b Griffin N, Masters K (1996) Hit and Run: How Jon Peters and Peter Guber Took Sony for a Ride in Hollywood. (Simon & Schuster, ISBN 0-684-83266-6)
  17. ^ Nathan, J. (1999) Sony: The Private Life. (Houghton Mifflin, ISBN 0-395-89327-5, ISBN 0-618-12694-5)
  18. ^ She Holds Torch for Sony Pictures Entertainment, latimes.com
  19. ^ "Funding Universe - Sony Corporation". Retrieved 24 September 2012. 
  20. ^ Sony will purchase MGM in a deal worth about $5 billion, CNN, September 14, 2004.
  21. ^ MGM Disclosure Statement page 424 (Appendix D: Audited Financial Statement. March 2009, page 6), October 7, 2010
  22. ^ Sony Consolidated Financial Statements for the year ended March 31, 2008
  23. ^ DAVID LIEBERMAN "Deadline" Sony Pictures Vows To Cut Costs $250M+ Through 2016 deadline.com, Retrieved on November 22, 2013
  24. ^ DAVID LIEBERMAN "Deadline" Sony Pictures To Shift Emphasis From Movies To TV, Will Cut Film Output For 2014 deadline.com, Retrieved on November 22, 2013
  25. ^ NELLIE ANDREEVA "Deadline" From Pariah To Company MVP: The Quiet Rise Of Sony’s Television Division deadline.com, Retrieved on November 22, 2013
  26. ^ DAVID LIEBERMAN "Deadline" Sony TV Execs Talk Up Global Opportunities deadline.com, Retrieved on November 22, 2013
  27. ^ DAVID LIEBERMAN "Deadline" Sony Pictures Plans More Spider-Man Sequels And Spinoffs – But Still No Marvel Reunion deadline.com, Retrieved on November 22, 2013
  28. ^ "Columbia Pictures Television Group acquires Four D Productions Inc.". PR Newswire. August 28, 1986. Retrieved 2011-05-01. 
  29. ^ CCC director sold shares of Sony Pictures Television series producer. Retrieved on February 28, 2012
  30. ^ NANCY TARTAGLIONE "Deadline" Sony Pictures Television, Simon Andreae Launch UK Production Outfit Scarlet Media deadline.com, Retrieved on August 22, 2013
  31. ^ The Anime Biz – By Ian Rowley, with Hiroko Tashiro, Chester Dawson, and Moon Ihlwan, BusinessWeek, June 27, 2005.
  32. ^ Animax Asia – Corporate ProfileAnimax-Asia official website.
  33. ^ "Sony Pictures TV To Launch Movies Diginet". TVNewsCheck. April 22, 2013. Retrieved April 24, 2013. 
  34. ^ Affiliated Companies (Outside Japan) Sony Corporation
  35. ^ Sony Pictures Online SPEJ – Company Profile, Sony Pictures Entertainment (Japan), Inc. official website.
  36. ^ History of Columbia Pictures Part 3, Sony Pictures Entertainment Japan (in Japanese)
  37. ^ "Sony Pictures' Loot: A group of developers making Home wares". Destructoid. 

External links[edit]