Featured Articles

5th Generation Broadwell 14nm family comes in three lines

5th Generation Broadwell 14nm family comes in three lines

Intel's 5th Core processor family, codenamed Broadwell, will launch in three lines for the mobile segment. We are talking about upcoming…

More...
Broadwell Chromebooks coming in late Q1 2015

Broadwell Chromebooks coming in late Q1 2015

Google's Chromebook OS should be updating automatically every six weeks, but Intel doesn't come close with its hardware refresh schedule.

More...
New round of Nexus phone rumour kicks off

New round of Nexus phone rumour kicks off

Rumours involving upcoming Nexus devices are nothing uncommon, but this year there is a fair bit of confusion, especially on the…

More...
Nvidia officially launches the 8-inch Shield Tablet

Nvidia officially launches the 8-inch Shield Tablet

As expected and reported earlier, Nvidia has now officially announced its newest Shield device, the new 8-inch Shield Tablet. While the…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Monday, 21 January 2013 10:37

Sony flogs skyscraper

Written by Nick Farrell



Yours for $1.1 billion


Sony is about to flog off its skyscraper on Madison Avenue to the Chetrit Group, a major family-owned New York property outfit for $1.1 billion.

Sony said the sale was to raise much-needed cash, expected to equal $770m, after bills on the building have been pay off. The firm will also record a windfall profit in its accounts, as the building is being sold at a gain of £685m, compared with the price that Sony originally paid for it in 2002.

The company will not be moving out of the building.  Apparently it will continue to lease the building back for another three years following the sale. The company has 1,500 Sony employees working in the building, including its music and films businesses.

The 37-floor building was first constructed in 1984, at a time when Sony was worth a lot of dosh thanks to the success of its  Walkman. In November, Sony suffered the ignominy of having its credit rating downgraded to "junk" because the company had serious doubts about whether Sony will be able to repay its debts.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments