NEW YORK (TheStreet) -- Shares of Sony Corp. (SNE) are up 1.18% to $19.73 after it was reported that Walt Disney (DIS) and 21st Century Fox (FOXA) are in discussions to supply the company with programming for its planned Internet-based TV service, sources told Bloomberg.
Disney and Fox would join Viacom (VIAB) which said it will provide 22 networks, the first time the media company has made its shows available for a Web-based service, Bloomberg added.
The deal covers live and on-demand programming, Viacom and Sony said.
TheStreet Ratings team rates SONY CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SONY CORP (SNE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, a generally disappointing performance in the stock itself and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: