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Technology Stocks : General Instrument Corp.'98 (GIC)
GIC 29.47+0.9%3:59 PM EST
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To: Daniel Fisher who wrote (200)3/29/1998 3:31:00 PM
From: kech  Read Replies (1) of 615
 
Sony also thought Movies were central to their TV's last time around. Maybe its "different" this time. Look what happened:

TOKYO (AP) - Sony Corp. may face an investigation by U.S.
securities regulators for allegedly failing to disclose financial
information related to its Hollywood studios in 1994.
Sony said the Securities and Exchange Commission is considering
recommending a formal investigation into the case, which allegedly
involves a $2.7 billion write-off taken in November 1994 for its
U.S.-based film division, which includes the Columbia and TriStar
studios.
The SEC may investigate whether Sony's financial reports for the
fiscal year ended March 1994 and the quarter ended June 1994 were
false and misleading because they did not include information later
disclosed in the write-off.
Duncan King, an SEC spokesman in Washington, said Friday that
the commission would not confirm or deny the existence of an
investigation.
Sony made the disclosure Thursday in a regulatory filing related
to a $1.5 billion bond issuance in the United States.
Sony bought the studios for $3.4 billion in 1989 but was forced
to take the huge write-off as the movie business suffered a series
of flops and management turmoil.
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