Sony nears $1 billion deal to sell TV unit stake to TCL Electronics

Investing.com -- Sony Group Corp. is close to reaching a binding agreement to sell a majority stake in its home entertainment business to TCL Electronics Holdings Ltd. in a deal valued at approximately $1 billion, Bloomberg reported Monday.

The companies have reportedly advanced in their negotiations and are working to announce a transaction as soon as this month. While discussions are at an advanced stage, no final decision has been made.

Sony and TCL announced in January their plan to establish a joint venture for the Japanese company's home entertainment business, which includes its Bravia television brand. Under the memorandum of understanding, Sony would hold 49% of the venture and TCL the remaining 51%.

The new joint venture will start operations in April 2027 and produce television sets carrying the Sony and Bravia names but using TCL's display technology, according to the January statement.

You May Also Be Interested In

• Walmart to pay $1.4 billion for Vibe.co acquisition - WSJ
• Backblaze (BLZE) call put ratio 12.9 calls to 1 put with a focus on July 12.50 calls as share price up 40%
• Pfizer executive says China now leads Europe in drug innovation