U.S. hedge fund calls for Sony Entertainment spin-off

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    Technology News

    File photo of Loeb, founder of Third Point hedge fund, participates in a panel discussion in Las VegasBy Chikafumi Hodo and Nathan Layne TOKYO (Reuters) – Billionaire hedge fund investor Daniel Loeb on Tuesday called on Sony Corp to spin off its lucrative entertainment arm, setting the stage for a clash between his activist Wall Street fund and management at the Japanese electronics maker. Loeb said his Third Point hedge fund had accumulated a little more than 6 percent of Sony's shares – a stake worth $1.1 billion – making it the largest stakeholder in the inventor of the Walkman portable music player and Trinitron TV. …

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