Cyberattack costs to be fully covered by insurance: Sony

Los Angeles

SONY Pictures Entertainment chief executive Michael Lynton has said the costs from the devastating cyberattack on the Hollywood studio will be completely covered by insurance and will not lead to further cost-cutting.

"I would say the cost is far less than anything anybody is imagining and certainly shouldn't be anything that is disruptive to our budget," Mr Lynton told Reuters in an interview on Thursday, seven weeks after the hacking attack that the US government has blamed on North Korea. The costs were "well within the bounds of insurance", he added.