Sony Pictures to slash film production from 23 to 18 releases per year

London, Nov. 23 : Sony Pictures has decided to slash down its film production from 23 releases per year to 18, after a number of high-profile movies didn't perform as expected.

Sony president Kazuo Hirai said that the company has decided to focus more on its "higher margin" TV production arm, the BBC reports.

The company's television division, which operates channels in 159 countries, generated 1.5 billion dollars revenue over the last financial year, the report added.

However, the movie business struggled, with action movie White House Down, which took 205 million dollars at the box office, against a production budget of 150 million dollars.

--ANI (Posted on 23-11-2013)

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