Big Sony meeting

HOT TIMES IN CULVER CITY: The L.A. Times reports that Sony Corp. will address the state of its embattled movie and TV studio in a five-hour meeting for investors this morning at the Sony Pictures lot in Culver City. The company is expected to discuss planned budget cuts at the studio, which could result in layoffs. Sony Pictures recorded an operating loss of $181 million for the company's fiscal Q2 (ending 9/30) following a string of flops. A representative of Dan Loeb’s Third Point (which has a 7% stake in the company) is expected to attend the meeting, which will feature Sony President/CEO Kazuo Hirai and today’s entrée, grilled Michael Lynton. Also expected to be present at the grilling—but obviously not on the hot seat—are Sony Music chief Doug Morris and Sony/ATV honcho Marty Bandier, both of whom have consistently been beating their planned profit forecasts. (11/21a)