Recent cyber attack on Sony Pictures might have cost
the entertainment company an estimated loss of $200 million, according to
various analysts.
Following the cyber attack, Sony had cancelled the
release of the comedy film, film "The Interview" revolving around a
fictitious US plot to assassinate North Korean leader Kim Jong-un.
The cost of the film's production -- about $44 million
-- must be added to its promotional costs and the expenses associated with
updating and changing the studio's computer systems, said analysts.
The $200 million figure is expected to rise, given
the expenses that the company will incur due to lawsuits that former employees
have filed as a result of their personal data being stolen from Sony's database
by the hackers.
However, not merely economic losses, the studio's
credibility may fall substantially as a result of an erosion of public confidence,
given the way it has tried to manage the crisis, with US President Barack Obama
saying that Sony made a mistake in cancelling its Christmas screening of the
film.
The US government had alleged that North Korea was
behind the attack. The North Korean government, which was outraged by the
film's storyline, denied being involved in the attack.
North Korea has urged US to conduct a joint
investigation into the matter, although the US government has said that it
stands by its accusation and will respond "proportionately".
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