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Stock impact report

Sony Pictures CEO Tony Vinciquerra talks ‘arms dealer' strategy, defends ‘Spider-Man' spinoffs [Los Angeles Times (CA)]

Sony Group Corporation American Depositary Shares (SONY) 
The Culver City studio was still reeling from a 2014 cyber attack that exposed employees' personal information and revealed internal communications, damaging its reputation and leading to major financial losses. Its film studio was in such a slump that Tokyo parent company Sony Corp. took a nearly $1 billion write-down just months before Vinciquerra was announced as the new chief executive and chairman. At the time, he was working at private equity firm TPG after a long career at Fox Networks. “When people approached me about this job, I really wasn't looking to go back to work full-time, be in the office every day,” said Vinciquerra, 70. “But what was really attractive was the potential.” Under his leadership, Sony Pictures mounted a comeback. The film studio revitalized several franchises, including “Jumanji” and “Bad Boys,” churned out its all-important “Spider-Man” movies and started to capitalize on its sister PlayStation video game division by making film and TV series Show less Read more
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