BGR has learned that Sony Electronics is making plans to sell the company’s famed 550 Madison location in New York in order to raise money, according to a close source of ours. An internal email was sent to Sony executives detailing the plans recently, and Sony is currently considering a few different scenarios. We are told the selling price of the building will be in the $1.5 billion to $2 billion range. Sony Electronics is now making plans to sell the building and potentially lease back space for it’s various business units like Sony Electronics, Sony Music, and others, or completely move to another location entirely. Read the full story at Boy Genius Report.
Sony Electronics to sell 550 Madison headquarters to raise cash
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).