Wall Street is expecting Dan Loeb to be the tip of the spear.
The founder of Third Point hedge fund, which owns a 6.5 percent stake in Sony Corp., yesterday pushed the $21 billion company to sell up to 20 percent of Sony Entertainment, including its Hollywood studio, TV production unit and Sony Music in a public offering so that CEO Kaz Hirai can concentrate on the company’s struggling electronic business.
Sony’s ADRs have more than doubled since Dec. 4 — they closed yesterday up 9.9 percent to $20.76 — but have lost more than 50 percent of their value over the last five years.
Even while Sony politely declined Loeb’s suggestion, his move has put Sony in play, analysts suggest.
Likely suitors include:
* Les Moonves, CEO of CBS, has signaled his interest in Sony’s TV production, syndication and overseas cable networks.
Brian Wieser at Pivotal Research told The Post Sony Entertainment’s “strategic value to CBS is unique.”
The Tiffany network had no comment yesterday.
* Former Warner Music Group CEO Edgar Bronfman Jr. would love to get back into the record business.
Several sources say he is talking to investors about making a run at a major music company, such as Universal Music or Sony Music. Sony’s roster of hot artists includes Adele.
Bronfman declined to comment.
* WMG owner Len Blavatnik has also eyed Sony, a source close to the mogul said. Blavatnik recently hired former Sony US Chief Financial Officer Robert Wiesenthal as chief deal maker — a move many viewed as a precursor to a full on bid.
Blavatnik was not available for comment.