Sony has warned investors that it will take roughly $978m writedown on its film business, blaming a goodwill impairment charge that dates back to an acquisition of a Hollywood studio almost three decades ago. From a report on Reuters: The impairment charge came as Sony cut its outlook for profits from DVD, blu-ray discs and other home entertainment operations in line with a broader market decline, the company said in statement on Monday. Sony has been working to revive its movie business. In November, the Japanese conglomerate’s chief financial officer, Kenichiro Yoshida, said a turnaround was “progressing, but it takes time for the benefit to be realized.”

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Source: Slashdot – Sony Warns It Will Take Billion Writedown, Blames Slowing DVD Sales