Loeb Exit No Relief for Sony in U.S. as Tokyo Streamlines

December 11, 2014 7:34 AM

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When activist investor Daniel Loeb announced in October he’d sold his Sony Corp. stake, executives at the Japanese company’s Culver City, California, studio lot expressed relief.

“Sit by the side of the river long enough, and the bodies of your enemies will float by,” Tom Rothman, chairman of Sony’s TriStar Productions venture, wrote in an Oct. 21 e-mail to Michael Lynton, Sony’s top U.S. executive, and Amy Pascal, who runs the film business. The message is among thousands o...

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