Daily Digit: Sony's $1.1 Bln Stakeholder Urges Break-Up


The Daily Digit is $1.1 billion. Billionaire hedge fund investor Daniel Loeb is willing to put his money where his mouth is -calling for a break-up of Japanese conglomerate Sony. His Third Point hedge fund owns more than 6 percent of Sony's shares - a stake worth $1.1 billion - making it the largest investor. He is calling on Sony to spin-off its lucrative entertainment arm and is willing to put up another $2 billion to fund an initial public offering, calling the asset a "hidden gem."