TweakTown
Tech content trusted by users in North America and around the world
6,066 Reviews & Articles | 38,988 News Posts
TRENDING NOW: NVIDIA releases the GeForce GTX 980, its most advanced GPU at $549

Sony dump their New York City HQ for $1.1 billion, hopefully investing it into the PS4

Sony are selling their New York City headquarters for a cool $1.1 billion

| Business, Financial & Legal News | Posted: Jan 18, 2013 10:36 am

I knew Sony were in trouble, but is this a sign of serious problems for the Japanese electronics giant? Sony have now announced they're selling their New York headquarters to a consortium led by The Chetrit Group.

 

TweakTown image news/2/7/27960_04_sony_dump_their_new_york_city_hq_for_1_1_billion_hopefully_investing_it_into_the_ps4.jpg

 

After Sony settle their debts on the building, the $1.1 billion sale will see Sony cash in around $685 million in operating income. This will help their Q3 earnings, but it won't help the company in the long run. Rumor has it that Sony are looking to repeat the sell off in Japan, which will see another $1.14 billion enter their accounts.

 

Do you see this as a sign of confidence for Sony? Or as a sign of things to come? I personally think that if the PlayStation 4 isn't super successful, and by that I mean a total homerun, it'll be lights out for Sony. Maybe not right away, but in the coming 1-2 years, that's my prediction. They need something big and they need it now.

 

This could be why they're going to jump out and announce the PlayStation 4 ahead of Microsoft's announcement of the next-generation Xbox.

NEWS SOURCES:Engadget.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases