SONY CORP. ADRs $19 (New York symbol SNE; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.0 billion; Market cap: $19.0 billion; Price-to-sales ratio: 0.3; Dividend yield: 1.4%; TSINetwork Rating: Average; www.sony.com) now plans to make fewer than 20 movies a year, down from around 23 in previous years. That’s due to big losses on films like White House Down and After Earth.
Instead, the company plans to expand its better-performing television production business. Sony currently produces 38 series, including popular shows like Breaking Bad and The Blacklist.
Making TV shows is less expensive than feature films, which lowers risk and enhances potential profit.
Sony is still a hold.