Sony sells large stake in HBO Latin America

SPE sells stake to Time Warner co. for $217 mil

TOKYO – Sony Pictures Entertainment has sold most of its stake in HBO Latin America to a Time Warner Inc. group company for $217 million, Sony Corp. said Monday.
The $200 million profit that will be raised is already included in Sony’s forecast for its financial year, which ends on Wednesday, March 31.
The sale will reduce Sony’s holding in the pay TV net to 8%, from 29%, and is in line with its strategy of reducing investments in Latin American and European TV operations that it doesn’t fully own.