BGR has learned that Sony Electronics is making plans to sell the company’s famed 550 Madison location in New York in order to raise money, according to a close source of ours. An internal email was sent to Sony executives detailing the plans recently, and Sony is currently considering a few different scenarios. We are told the selling price of the building will be in the $1.5 billion to $2 billion range. Sony Electronics is now making plans to sell the building and potentially lease back space for it’s various business units like Sony Electronics, Sony Music, and others, or completely move to another location entirely. Read the full story at Boy Genius Report.
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.