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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63600)	5/10/2002 12:14:53 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Sony outlook rosy, sees broadband plan unfolding Reuters, 05.09.02, 10:13 PM ET forbes.com NEW YORK (Reuters) - Sony Corp., the electronics and entertainment giant, Thursday said its highly profitable PlayStation game business and recent movie blockbuster, Spider-Man, positions it to wring greater value out of the far-flung pieces of its diversified media businesses. Top executives said in a briefing held here for Wall Street money managers that Sony was ready this year to begin realizing the value of its rich stable of movies, music and games by delivering these media over high-speed Internet connections. Sony executives used the New York meeting as a kind of pep rally for properties that range from computers and cellphones to pop stars, arguing that were entertainment properties to exist as a solo entity, they would be valued from $14 to $19 billion based on comparisons to rival media companies. "Sony's market capitalization is somewhat undervalued," Chairman and Chief Executive Nobuyuki Idei said at a news conference afterward. He argued that Sony was more than just another electronics maker like Samsung or NEC, to which it is commonly compared. "Relative to companies like Nintendo , what is Sony PlayStation worth or what are we worth compared to any other music company?" Rob Weisenthal, chief financial officer of Sony Corp. of America added that Sony "had to do a better job in terms of disclosing these assets and give a better sense of the financial strength of (our entertainment businesses)."