Sony Seeking Solace From Bond

Sony, whose stock has been taking a beating in recent weeks as consumerdemand for its consumer electronics items slackens and as the dollar risesagainst the yen, is hoping that next weekend's domestic debut of the latestJames Bond movie, Quantum of Solace , will offset some of the badnews. "I don't want to predict what will happen in the U. S., MichaelLynton, chief executive of Sony Pictures Entertainment, told the London Financial Times. "But in these difficult economic times it's nice tohave a hit and the film certainly worked in the U.K. and elsewhere." Lyntonwas referring to the record opening of the movie in the U.K. two weeks agoand strong openings in India and China as well. (The film took in $106.5million over this past weekend, the second largest international take of2008, according to Daily Variety .) Lynton added, "It's profitablefor the studio, which means it's profitable for Sony Corp." He also notedthat the film's success could boost company morale.

10/11/2008


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