SONY CLAIMS IT WON’T SELL FILM AND TV ASSETS

Sony Corp. CFO Kenichiro Yoshida categorically stated that the company won’t sell its film-and-TV unit following a $962 million write-down. “There is no chance we will sell the unit,” he said Thursday in Tokyo during an earnings news conference. Yoshida also ruled out selling a piece of the business, insisting “It’s important that we keep full ownership.”

The CFO explained that it’s important to keep movies and the more successful TV division together because “Being a major studio is an important factor when it comes to inviting celebrities to TV programs.” So there you go.

Yoshida’s statements were posted on The Wall Street Journal website.

Speculation about a possible sale, fueled by a dismal year for Sony Pictures, ramped up two weeks ago when Sony Entertainment chief Michael Lynton said he was leaving the job to take the chairmanship of Snapchat parent Snap.

The write-down sent the rumor mill into overdrive, causing Sony to squelch those rumors. That doesn’t necessarily mean a sale won’t happen at some point, of course.

Sony said CEO Kaz Hirai would spend more time at Sony Pictures HQ in Culver Cityto personally direct the movie unit’s overhaul and find a successor to Lynton.