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The Wall Street Journal

Hedge-fund investor Dan Loeb’s campaign to persuade Sony to spin off part of its entertainment business was beneficial for the company, Chief Executive Kazuo Hirai said, making one of his first public comments since rejecting the proposal. Sony is better off holding on to all of its movie and music businesses, Hirai said, but he agreed with a few of the billionaire investor’s other points. Loeb’s Third Point LLC wanted to take up to 20 percent of Sony’s entertainment arm public.

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First Larry Ellison bought the island. Now he is buying the airline to get there.

The Oracle CEO and multi-billionaire announced this morning he has purchased Island Air, an airline that travels between the Hawaiian islands. Last year, Ellison purchased the vast majority of the island of Lanai, off the coast of Maui.

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