Apple could buy Sony, media reports posit.
A Saturday article in Barron’s, a financial magazine, first alerted traders to the rumours. The speculation over a possible buyout sent the price of Sony shares up about three per cent on Tuesday.
“Well they certainly have the money to do it,” 680News senior business correspondent Mike Eppel said.
“Apple has something like $50 billion in cash, just in the bank, just waiting around to spend money on something. Their market value is over $300 billion,” he added.
Adobe and Disney were also mentioned as potential acquisitions.
“Sony is obviously an iconic name. Whether or not Apple wants to take on the potential headaches a buyout of Sony would instill, they’d be getting into things that Apple isn’t particularly well-versed in, like television production,” Eppel said.
“Apple would want Sony for their gaming systems, not necessarily for some of their more iconic brands,” he said.