VIDEO : Sony Pictures Movie Division In The Red

Sony Pictures has posted a loss of $719 million for the previous year. According to screenrant, the most likely culprit is struggling box office figures. Back in January of this year, the studio took a $1 billion write-down for their film division. Sony's recent projects have failed to make a lasting impression with audiences. Months ago, rumors surfaced that Sony was looking to sell their film and television departments. That options is likely off the table however after the release of these recent figures. The company?s overall profits have fallen 50 percent, likely due to it's floundering movie division.