Word: idei
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Sony never needed new leadership more than it did in April 1995, when Nobuyuki Idei leapfrogged a dozen more senior executives to become the company's president. As the world's trailblazer in entertainment electronics, Sony invaded Hollywood in 1989 by buying Columbia and TriStar Pictures; in November 1994 the corporation took a $3.2 billion write-off for five years of studio mismanagement. Soon afterward, Sony co-founder Akio Morita, who had continued to help guide the company despite suffering a stroke in 1993, resigned as chairman. Then Sony found itself losing ground to rivals in the race to develop...
Eisner was already angry, having discovered that Ovitz had been secretly negotiating with Sony to take over its troubled entertainment operations. Those talks went off track because of Ovitz's extravagant demands, says an insider. Coincidentally, Sony boss Nobuyuki Idei was also in New York City, and thus his presence fanned the flames of speculation. Eisner arrived around 11 p.m., and was soon closeted with Ovitz. In a meeting that extended deep into the night, the two agreed to call it quits. "I can't imagine anybody having taken a greater fall in this industry," marveled a former entertainment-company...
...hire would help him hold on to his own job. "Arnold was the horse that Levine was riding," says a source sympathetic to Rifkin. "Arnold got to the starting gate and found out his jockey was dead." Early Thursday morning, Rifkin attended a chilly meeting with Sony chief Nobuyuki Idei. After an hour punctuated with awkward silences, it was clear that Sony wouldn't make Rifkin's deal...
...NOBUYUKI IDEI Executive turmoil, box-office flops, poor profits; movie headaches won't let up for Sony prez...
...Whether Idei wins his hardware bet remains to be seen, of course. But Sony continues the lavish spending on software that Schulhof charted. Last week Variety reported that TriStar agreed to pay Tom Cruise $20 million up front to star in the comedy Jerry Maguire. It was the third $20 million payday that Sony has recently served up to top Hollywood talent...