PHOTO: REUTERS
Pay-TV groups have been squeezed globally as viewers switch to online video platforms that often offer cheaper packages and churn out original productions.
Sony’s PlayStation 5 launch set for late 2020
“Unfortunately, the highly competitive pay-TV industry, with expensive content and network deals, has been slower to change than we expected,” said John Kodera, deputy president of Sony Interactive Entertainment.
The entertainment segment would remain focused on its core gaming business, Kodera added.
The content on Sony’s PlayStation Vue, launched in 2015, can be accessed through the PlayStation Store on PS4 and Sony’s partnerships with other entertainment apps, the company said.
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