Sony is reportedly exploring the sale of its Playstation Vue service.
The company tapped Bank of America Merrill Lynch several months ago to explore a sale, which would include the company’s technology and a subscriber list of around 500,000 households, The Information reports, citing "people familiar with the matter".
The reports continues to say that Sony has already approached one potential buyer, the sports-focused streaming service FuboTV, although The Information notes those discussions haven't gone anywhere meaningful.
The Playstation Vue is a loss making business for Sony, which is also under pressure from activist investor Daniel Loeb, who is calling on the company to restructure in order to lift its stock price.
A few months ago, Sony raised the price of all its multi-channel plans by $5 per month. The company's most affordable "Access" tier now starts at $49.99 per month, going up to $84.99. On the other hand, competitors like YouTube TV, Hulu and AT&T DirecTVNow have all done the same as the cost of content deals has increased.
The streaming market will soon become a lot more crowded with a host of new players. Disney+ and Apple TV Plus are both coming next month, AT&T’s HBO Max is due next year, and NBCUniversal is readying its Peacock service as well.