Sony selling US office for $1.1 billion

By:  Eddie Makuch In an effort to bolster its financial foundation, Sony has agreed to sell its New York City-based United States headquarters for $1.1 billion, the company has announced. The 37-story office is located at 550 Madison Ave and will be sold to an investment consortium led by the Chetrit Group. The deal is expected to close by March 2013. Sony expects the transaction to … Continue reading Sony selling US office for $1.1 billion

Xbox Music to offer subscription-based streaming – Report

By: Eddie Makuch Bloomberg sources say Microsoft’s Xbox Music service will launch later this year with a subscription model similar to that of streaming giant Spotify. The service was formally announced with little detail last month at the 2012 Electronic Entertainment Expo. Microsoft is reportedly in talks with the “Big Four” major record firms to secure licensing rights–namely, Universal Music Group, Warner Music Group, Sony … Continue reading Xbox Music to offer subscription-based streaming – Report