Sony selling European HQ building
A Morgan Stanley-funded consortium is allegedly purchasing the Sony Center Europe headquarters along with its Berlin entertainment complex for a ballpark of $1 billion ($940million-$1.13billion). Sony will still be the main tenant in the building.So, basically, the building is getting sold but Sony is staying put. They would never leave the European market, especially since the latest figures indicate a 10% sales share in regards to the PS3. Sony is aiming to sell 5 or 6 million PS3's by the end of 2008 and if this deal gives them some funds to make that goal reality, then more power to them.
Reader Comments (Page 1 of 1)
Haiddasalami @ Feb 29th 2008 2:40PM
And here I was thinking what I should do with my trillion dollars. Buy one of Sonys buildings.
Steve Childs @ Feb 29th 2008 2:42PM
Its a decent way to raise capital this, the now defunct car maker in the UK, MG Rover, did this to raise captial.
Normally you only want to do this if you need to realise an asset though, its a bit of short term gain for long term pain.
However, that said it depends how long it would take them to pay the 1billion back in rent and maintenance payments!
Quite a while, I'd guess.
red996 @ Feb 29th 2008 3:04PM
WOW!
Seems weird that so much corporate stuff is going on, including the departure of Phil Harrison.
bigd7387 @ Feb 29th 2008 4:50PM
We need to tell Sony that they need to work harder so they can pay for their rent. Kinda how they told us to work harder to pay for the PS3. Good stuff.
Ryden @ Mar 1st 2008 11:12AM
I don't know if any of you guys have been to this place, but it's the most awesome place ever.
It's my must-visit location every time I visit Berlin, you can't miss it if you ever go there! At night the buildings illuminate and you can sit in one of the restaurants and enjoy dinner after watching a 3D movie or testing new sony stuff at the sony style store. It's the shit. :D