On Air Now

Listen

Listen Live Now » 98.5 FM Battle Creek, Michigan

Weather

Current Conditions(Battle Creek,MI 49017)

More Weather »
78° Feels Like: 79°
Wind: WSW 15 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 59°

Tomorrow

Scattered Thunderstorms 80°

Fri Night

Thunderstorms Early 60°

Alerts

Sony board votes to keep entertainment unit, rejects Loeb proposal

Sony Corp's logo is seen at the company headquarters in Tokyo May 22, 2013. REUTERS/Toru Hanai
Sony Corp's logo is seen at the company headquarters in Tokyo May 22, 2013. REUTERS/Toru Hanai

(Reuters) - Sony Corp's board voted unanimously not to sell its entertainment unit, rejecting a proposal from hedge fund manager Daniel Loeb, the company said in a statement on Monday.

Sony sent a letter to Loeb's Third Point LLC giving the result of the vote, saying the board believed that "continuing to own 100 percent of the company's entertainment businesses is fundamental to Sony's success."

(Reporting by Lisa Richwine)

Comments