San Francisco, Oct 27 (SocialNews.XYZ) Sony is reportedly looking at selling its live TV streaming service PlayStation Vue as it struggles to turn a profit.
The company has reportedly recruited Bank of America Merrill Lynch to explore the possibility of selling off its PlayStation Vue streaming service.
Sony has already approached at least one potential buyer, the sports-focused streaming service FuboTV, with a sale that would include the service's approximately 5 lakh subscriber base, alongside its underlying technology, The Verge reported.
Recently as this summer, PlayStation Vue's most basic plan increased by $5 per month, but the streaming service is still continuing to lose money.
Vue was launched as an ambitious original project as one of the first broadcast-over-IP cable-replacement services in 2015.
Last year, PlayStation Vue has lost nearly 2.5 lakh subscribers, putting it significantly behind its compositors like Hulu or Sling TV.
For now, the PlayStation Vue app is still available on Roku, Apple TV, and of course, PlayStation 4.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz