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Sony Sells Its U.S. Headquarters


Jordan Haygood

It's no secret that Sony has been taking a financial hit from its PlayStation business in recent years, and now it seems that the company plans on making a pretty big business decision to make things right again. In order to make a financial turnaround, Sony has decided to sell their U.S. headquarters in New York to commercial property firm Chetrit Group for $1.1 billion. When all is said and done and all debts paid off, the company will be receiving around $770 million from the sale.

 

But don't go thinking this sale spells doom for Sony, because the company's New York employees will still be working under that same roof for up to three more years. This sale was necessary, due to Sony's four years of losses, and the company is estimating the outcome of the sale in the long run, predicting a profit of around $223 for the fiscal year. The sale is said to close in March.

 

Source: IGN

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