Sony Entertainment has hired Bain & Company to look for at least $100 million in cost-savings, the New York Times reported. But early speculation about the move is that it will impact Sony Pictures more than Sony Music Entertainment or Sony/ATV Music Publishing, which fall under the Sony Entertainment umbrella.
The New York Times quoted a Sony spokesman saying specifically that Sony Pictures is conducting a review of its business to identify further efficiencies. Sony Corp, which posted a net loss of $196 million for the quarter ended Sept. 30, has faced increased scrutiny due to activist investor Daniel Loeb.
The hiring of Bain is likely to be a topic of conversation at the company's investor meetings being held later this week in California.