Sony Corp. Chief Executive Officer Howard Stringer has announced acquisitions worth $8.4 billion this year to bolster phones and content. That may not be enough to turn around a company heading for a fourth consecutive loss.
Japan's largest consumer-electronics exporter will pay cash to control its mobile-phone venture with Ericsson AB, partner with Michael Jackson's estate for music assets from EMI Group, and team up with Apple Inc. (AAPL) and Microsoft Corp. (MSFT) for patent rights. The Ericsson buyout gives Sony full access to the unit's 6.29 billion euros ($8.3 billion) in revenue, adding to Sony's $84 billion in sales for the year ended March 31. (Bloomberg)
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