Posts Tagged ‘closure’

Sony Pulls Plug on DSLR Lens Factory, Hands Out 840 Pink Slips

When Sony unveiled its “One Sony” game plan back in March after posting billions in losses, the company highlighted digital photography as one of its three main pillars going forward. It was a bit of a surprise, then, when Sony announced today that it will soon be closing a large lens manufacturing factory in Japan as part of the restructuring efforts.
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Possible FTC Probe May Delay Closure of Instagram/Facebook Deal by Up to a Year

Those of you who were hoping that all of the Facebook/Instagram acquisition talk would end may not get a respite as soon as we thought. Although the original acquisition papers from Facebook stated that they would try to close the deal in Q2, a rumored Federal Trade Commission (FTC) competition probe may delay that closure by up to a year.

As of right now there’s no evidence that the probe poses any viable threat to the acquisition itself — apparently they’re quite common for deals over $66 million — but the inevitable red tape would add some serious delay to the whole matter.

Unfortunately, it looks like we may have to wait on that Instagram Snap camera.

(via Engadget)

Image credit: FTC by vpickering