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Sony Sells European HQ

Sony will reportedly sell its Sony Center European headquarters, including its Berlin entertainment complex, to a Morgan Stanley-funded consortium, in a deal valued from $940 million to $1.13 billion, though the company will maintain primary tenancy of th
Sony will reportedly sell its Sony Center European headquarters, including its Berlin entertainment complex, to a Morgan Stanley-funded consortium, in a deal valued from $940 million to $1.13 billion. According to Reuters, Sony plans to remain as the main tenant in the building, which receives more than eight million visitors a year. Though a spokesperson told Reuters that the complex initially cost 750 million euros ($1.13 billion) to develop, Morgan Stanley declined to discuss the transaction. Sony's own sales figures have suggested that the UK market currently accounts for around 10 percent of Sony’s PlayStation 3 business. Recent hardware estimates revealed by Electronics Arts suggest that 2.8 million PlayStation 3 have been sold in Europe as a whole, with the company expecting the console to sell between 5.0 and 6.0 million units in 2008 – compared to 1.5 to 2.5 million for the Xbox 360.

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