Sony Pictures Entertainment
|Type||Subsidiary of Sony|
|Founded||December 21, 1987 as Columbia Pictures Entertainment, Inc., renamed Sony Pictures Entertainment, Inc. on August 7, 1991|
|Headquarters||10202 West Washington Blvd., Culver City, California, United States|
|Key people||Michael Lynton
(Chairman & CEO)
Video on demand
|Revenue||US$ 8 billion (FY2014)|
|Operating income||US$ 501 million (FY2013)|
Based in Culver City, California, it encompasses Sony's motion picture, television production and distribution units. Its group sales in the fiscal year ended March 31, 2014 has been reported to be of $8 billion.
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%. A new company was formed in early 1988 with the Tri-Star name to take over the studio's production operations.
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. 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 CPE for $200 million when Sony hired Peter Guber and Jon Peters to be its co-chairmen. This was all led by Norio Ohga, who was the president and CEO of Sony during that time.
The hiring of Guber and Peters by Sony to run Columbia was conflicted by a previous contract the producers had 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 Warner Bros. Said agreement also saw Columbia sell its 35% interest in the Burbank Studios, and acquired Lorimar Studios, previously the MGM lot, from Warner Bros.
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 stock 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 Guber-Peters Entertainment Company 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. The company was renamed Sony Pictures Entertainment on August 7, 1991.
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.
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).
In 2011, the Sony Pictures computer network was breached and approximately 1 million user accounts associated with the SonyPictures.com website were leaked.
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.
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. It was also announced on the same day, that there will be more Spider-Man sequels and spin-offs.
On January 22, 2014, SPE folded its technology unit into its various cores of its businesses. In April, Sony Pictures arranged a film financing deal worth $200 million with LStar Capital, the credit venture of Lone Star Capital and CitiBank, half in debt and the other in equity to fund most of SPE's film slate for several years. SPE was originally considering a $300 million deal with Blue Anchor Entertainment, led by Bloom Hergott partner John LaViolette and former investment banker & producer Joseph M. Singer, and backed by Longhorn Capital Management and Deutsche Bank, which was held up by regulatory matters.
Senior management team
- Michael Lynton
- Chairman & CEO, Sony Pictures Entertainment
- CEO, Sony Corporation of America
- Amy Pascal
- Co-Chairman, Sony Pictures Entertainment
- Chairman, Motion Picture Group, Sony Pictures Entertainment
List of holdings
Motion Pictures and Home Entertainment
- Columbia TriStar Motion Picture Group: With a library of more than 4,000 films (including 12 Academy Award for Best Picture winners), as of 2004 this unit of Sony distributes about 22 films a year under its various studio brands in 67 countries. The group owns studio facilities in the United States, Hong Kong, Madrid, Mexico, the United Kingdom, Brazil and Japan. In addition to the company-owned brands below, Columbia TriStar also has a contract to distribute films for independent Revolution Studios and select films by MGM and United Artists.
- Columbia Pictures: Founded in 1924 by Harry Cohn, Sony acquired the studio in 1989 from The Coca-Cola Company for $3.4 billion.
- TriStar Pictures Formed in 1982 as a joint venture between Columbia Pictures, HBO, and CBS. Became part of Columbia Pictures Entertainment in December 1987 and the Sony ownership in 1989. Was relaunched in 2004 as a marketing and acquisitions unit that specializes in genre and independent films.
- Screen Gems: Originally Columbia's animation division and later a television production company best known for TV's Bewitched and The Partridge Family, as well as bringing The Three Stooges short subjects to TV in 1958. Sony revived the Screen Gems brand to develop mid-priced movies (production budget of between $20 million and $50 million) in specific genres such as science fiction, horror, black cinema and franchise films.
- Sony Pictures Classics (SPC): Specializes in acquiring distribution rights to independent and art films as well as producing lower-budget productions geared to limited audiences.
- Sony Pictures Releasing: Founded in 1994.
- Sony Pictures Releasing International (formerly Columbia TriStar Film Distributors International)
- Sony Pictures India, production house established by Sony to release Indian movies and distribute Hollywood movies, released under Columbia Pictures.
- Monumental Pictures: A Russian motion picture studio formed on February 2, 2006 as a joint venture between Sony Pictures Entertainment and Russia-based Patton Media Group producing and releasing Russian language films in Russia, the CIS, and Mongolia.
- TriStar Productions: A joint-venture between Thomas Rothman and SPE.
- Sony Pictures Home Entertainment: Manufactures and distributes the Sony film library on Blu-ray Disc, DVD, video cassette, and UMD forms to global markets.
- Sony Pictures Worldwide Acquisitions (SPWA): A Sony division which acquires and produces about 60 films per year for a wide variety of distribution platforms, especially for non-theatrical markets. It had been called Worldwide SPE Acquisitions, Inc. until September 2010.
Production and Distribution
- Sony Pictures Television Group: (formerly Columbia TriStar Television Group) The successor-in-interest to Columbia's television division (first Screen Gems, later Columbia Pictures Television, Coca-Cola Television, TriStar Television (A division of Columbia Pictures Television), and Columbia TriStar Television), as of 2004 the unit was producing 60 titles for various television outlets globally. Contains a library that includes more than 35,000 episodes of more than 270 television series and 22,000 game show episodes under the Columbia TriStar Television brand, and the television rights to the Embassy Pictures library (including The Graduate and The Lion in Winter) and also the owner of the television division "Embassy Television"—among most recent notable shows in this library are Seinfeld, King of Queens, Days of our Lives and The Young and the Restless. Their former international distribution division Sony Pictures Television International was responsible for global distribution for the Sony film and television properties worldwide. Formerly known as Columbia TriStar International Television from 1995 to 2002.
- 2waytraffic: Acquired by Sony in 2008, this television production company owns a number of formats, most notably including Who Wants to Be a Millionaire?.
- Adelaide Productions
- Barris Industries: Formed in 1965 by Chuck Barris as Chuck Barris Productions. Renamed to Barris Industries in 1981. Merged with the Guber-Peters Company in 1988 and renamed as Guber-Peters Entertainment Company in 1989.
- Barry & Enright Productions (post-scandal), including Jack Barry Productions: Formed in 1947 by Jack Barry and Dan Enright, shut down in 1959, and reformed in 1975. Later renamed Stafford-Enright Productions in 1991. Sony acquired the library in 1992.
- Culver Entertainment
- Electric Ray: Founded by Karl Warner with SPT in January 2014.
- ELP Communications (ELPC) and Tandem Licensing Corporation (TLC): The two in-name only units of Sony Pictures Television own the productions' copyrights presented by Norman Lear's companies: Tandem Productions and ELP Communications (series from T.A.T. to ELP Communications). The companies were formed by Bud Yorkin and Norman Lear in 1958 as Tandem Productions. Yorkin ended his partnership with Lear in 1975, but remained with Tandem. Lear and his partner Jerry Perenchio sold Tandem/Embassy Television to The Coca-Cola Company in 1985 and later became Embassy Communications in 1986 (later became ELP Communications in 1988). ELPC and TLC are part of Sony Pictures Entertainment since 1991.
- Embassy Row: A television and digital production company by Michael Davies. SPT acquired the company on January 14, 2009.
- Four D Productions: Independent production house founded by Danny Arnold in 1974. Acquired by The Coca-Cola Company in 1986.
- Gogglebox Entertainment
- Lean-M Producers Center: A Russian production company founded in 2000 by Timur Weinstein, Vyacheslav Murugov and Oleg Osipov. In 2007, SPTI acquired a majority stake in Lean-M, with an additional 16% on April 13, 2009  and the remainder in 2010.
- Left Bank Pictures: A UK production company founded by Andy Harries, Francis Hopkinson, and Marigo Kehoe in 2007. Majority stake acquired by SPT in 2012.
- Merv Griffin Enterprises: Founded in 1964 by Merv Griffin as Merv Griffin Productions. He sold his company to The Coca-Cola Company in 1986 as Merv Griffin Enterprises and was a subsidiary of Columbia Pictures Entertainment from 1988 to 1991 and Sony Pictures Entertainment from 1991 to 1994.
- Silver River Productions
- Stellify Media: A joint venture between SPT, Kieran Doherty, and Matt Worthy launched in 2014 for Northern Ireland.
- Stewart Tele Enterprises: Formed in 1964 by Bob Stewart. Merged with SPE in 1994.
- Victory Television: A UK television production company that was founded in 2011; a joint-venture with Victoria Ashbourne.
- Sony Pictures Television Networks
- Animax: Instituted in Japan by Sony in 1998, Animax is the world's largest anime television network, with respective networks operating across Japan, East Asia, Southeast Asia, South Asia, South America and other regions. However, Animax was cut off from Vietnam cable network in 2010 without any reason
- AXN: Formed in 1997, AXN is Sony's entertainment television network, which airs across Japan, Asia, Latin America and Europe.
- Cine Sony Television
- Crackle (formerly known as Grouper Networks): Crackle is a digital platform of Sony Pictures. It hosts videos on YouTube, Hulu, Dailymotion, and its own site, etc. Crackle is operated by SPT.
- CSC Media Group: Acquired by SPT in August 2014.
- GSN: (joint venture with DirecTV)
- GetTV (was slated to launch in Fall 2013, now moved to February 2014)
- Sony Movie Channel
- Sony Entertainment Television
Other Sony Pictures operations
- Sony Pictures Music Group
- Sony Pictures Family Entertainment Group
- Sony Pictures Consumer Products
- Sony Pictures Interactive
- Sony Pictures Cable Ventures, Inc.
- Sony Pictures Studios: The actual physical buildings, land and movie-making equipment properties in Culver City, California. Includes 22 sound stages, ranging in size from 7,600 to 43,000 square feet (700 to 4,000 m²)
- Sony Pictures Entertainment Japan (SPEJ): The company plans, produces, manufactures, sells, imports, exports, leases, broadcasts and distributes movies, TV programs, videos and audio-visual software in Japan. The company web site says it was established on February 10, 1984, predating Sony's acquisition of Columbia Pictures Entertainment by 5 years. SPEJ was formed in 1991 through the merger of Columbia TriStar Japan, RCA-Columbia Pictures Video Japan, and Japan International Enterprises. Based in Tokyo, Japan.
- Sony Pictures Europe: Offices located at 25 Golden Square, London, England
- Sony Pictures Studios Post Production Facilities
- Worldwide Product Fulfillment
It was revealed in December 2014 that the Sony Pictures computer network was compromised by a group of hackers named Guardians of Peace, disabling many computers. Later the same week, five of Sony Pictures' movies were leaked, including some not yet released (such as Fury and Annie), as well as confidential data about 47,000 current and former Sony employees. Film historian Wheeler Winston Dixon suggested that the hack, which exposed the inner workings of the studio, was "not a pretty picture," and served as a "wake-up call to the entire industry." The hack also revealed some other plans, like a partnership with Marvel Studios for the inclusion of the superhero Spider-Man on the third Captain America film and the acquisition of the movie rights for a future film based on Nintendo's Mario franchise. On December 16, the hackers issued a warning to moviegoers, threatening to attack anyone who sees The Interview during the holidays and urging people to "remember the 11th of September 2001". On December 17, 2014 Sony cancelled the previously planned December 25 release of The Interview in response to hacker threats.
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- "Consolidated Financial Results for the Fiscal Year Ended March 31, 2014". Tokyo, Japan: Sony. 9 May 2014. p. 6. Retrieved 14 May 2014.
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- MGM Disclosure Statement page 424 (Appendix D: Audited Financial Statement. March 2009, page 6), October 7, 2010
- Sony Consolidated Financial Statements for the year ended March 31, 2008
- "Sony Pictures Website Hacked, 1 Million Accounts Exposed". mashable.com.
- DAVID LIEBERMAN "Deadline" Sony Pictures Vows To Cut Costs $250M+ Through 2016 deadline.com, Retrieved on November 22, 2013
- 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
- NELLIE ANDREEVA "Deadline" From Pariah To Company MVP: The Quiet Rise Of Sony’s Television Division deadline.com, Retrieved on November 22, 2013
- DAVID LIEBERMAN "Deadline" Sony TV Execs Talk Up Global Opportunities deadline.com, Retrieved on November 22, 2013
- DAVID LIEBERMAN "Deadline" Sony Pictures Plans More Spider-Man Sequels And Spinoffs – But Still No Marvel Reunion deadline.com, Retrieved on November 22, 2013
- "Deadline" Layoffs Hit Sony Pictures As SPE Absorbs Technology Unit deadline.com, Retrieved on January 24, 2014
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- Affiliated Companies (Outside Japan) Sony Corporation
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- Spider-Man may appear in 'Captain America 3' mashable.com
- Leaked emails show Sony Pictures got the Mario film rights www.elmundotech.com
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- "Sony pulls ‘The Interview’; the Internet reacts". CNBC. December 18, 2014.
- Official website (English)
- SonyPictures.net (Sony Pictures Global Gateway)
- Sony Pictures Entertainment Museum
- Sony Pictures Entertainment (SPE) at the Internet Movie Database