Some big news among the giants of the electronics and entertainment industry. Sony has completed its takeover of the famous Metro Goldwyn Mayer (MGM) Hollywood movie studio for $3 billion. Sony Pictures will take over MGM’s library of about 4,000 movies and 10,000 TV shows, adding to their existing catalog of some 3,500 movies and 35,000 TV shows. Meanwhile Sanyo Electric, the third-largest manufacturer of electronic goods, has appointed a female former TV journalist and a young heir to hopefully reverse a serious decline in revenue. The company hopes former World Business satellite presenter Nonaka Tomoyo (photo, 50) can help turn things around as CEO. A spokesman said outright that the appointment was partly meant to “shock” Sanyo employees. Iue Toshimasa, grandson of the company founder, was promoted from Vice President to COO. At 42, he is the youngest person ever to run the company.
• Heavy metal band Loudness played a rooftop gig in Tokyo at the weekend and announced plans to tour overseas for the first time in 18 years. With their 25th anniversary coming up next year, the band are putting themselves back on the map and pushing the English version of their latest album “Racing”. They’ll kick off a European tour in Germany in July.