Sony Acquires Heller Financial Stake In Sony Financial Services, LLc

0

Sony Electronics Inc. announced that it has acquired the 49 percent equity stake in Sony Financial Services, LLC previously held by Heller Financial Inc.

Sony Financial Services was established jointly by Sony Electronics and Heller Financial in December 1999. Sony Electronics, through its wholly owned subsidiary, SFS Holding Corp., has assumed complete ownership of the business as a result of its acquisition of Heller’s interest. Financial details of the transaction are not being disclosed.

Sony Financial Services provides consumer and commercial financing programs to purchasers of Sony products. The consumer program is offered through American Investment Bank, a FDIC-insured Salt Lake City-based industrial loan corporation. Commercial financing covers the full breadth of Sony Electronics’ industrial products, including broadcast and professional systems.

“Heller Financial contributed greatly to help us launch this financing business,” said Jeffrey Dorn, president of Sony Financial Services. “Bringing Sony Financial Services into the Sony Electronics’ fold will provide us with greater flexibility to more closely align our financial services with Sony product marketing plans, helping us grow our businesses even more aggressively.”

Share.

About Author

Avatar

Through out my years, Sony has been a passion of mine.

Leave A Reply

From Sony to Apple: Breaking down the options for cord-cutters

0

A look at the new services out there, what’s on the way, and how they all differ.

Sony has become the latest major player to enter the streaming television market by introducing a paid service in New York, Chicago and Philadelphia.

The pay-TV service, Playstation Vue, offers both live television and on-demand streaming video from more than 50 channels, including several major broadcast and cable networks, at a base monthly price of $50. Playstation Vue is available to PS3 and PS4 owners in three U.S. cities, with the service expanding to more areas and other devices (including the iPad) later this year.

Sony SNE -0.56% is the latest domino, and a big one, to fall in the ongoing evolution of Internet television that is shifting the industry away from the traditional television subscription model. The launch of the Playstation Vue follows the Dish Network’s release of the similar Sling TV subscription service, and it comes just one day after reports surfaced saying Apple’s AAPL 0.70% own online pay-TV service could launch later this year.

Share.

About Author

Avatar

Through out my years, Sony has been a passion of mine.

Leave A Reply