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Sony takes US$1b writedown on movie business

The TV-to-gaming group blames weaker film profits as online streaming services sap demand for movie DVDs

Tokyo

SONY Corp will write down the value of its movie business by nearly 112.1 billion yen (S$1.4 billion) for the third quarter, blaming weaker film profits as online streaming services sap demand for movie DVDs.

The Japanese TV-to-gaming group said on Monday that it had cut its

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