Daniel S. Loeb has been steadily ratcheting up his critique of Sony in recent days. But the conglomerate found a defender in a somewhat unlikely source: George Clooney.
The actor and producer took time during an interview with Deadline Hollywood — ostensibly to discuss his coming movie, "The Monuments Men" — to inveigh against the activist shareholder and his campaign against Sony.
Since unveiling a stake in Sony that is now about 7 percent, Mr. Loeb sharpened the tone of his critique of Sony, which he is pressing to separate its entertainment arm from its electronics business and to streamline its operations. In the latest investor letter sent by his hedge fund, Third Point, the acid-tongued investor wrote: "Given entertainment's perpetual underperformance, perhaps Sony's reluctance to discuss it candidly stems from (understandable) embarrassment."