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Could Sony's hacking scandal cost them $100 million?

Written by Andre Yoskowitz @ 09 Dec 2014 9:58 User comments (1)

Could Sony's hacking scandal cost them $100 million? According to cybersecurity experts, Sony Pictures could be looking at a loss nearing $100 million from the massive hack that took down their network and exposed terabytes of sensitive data.
Sony, as a company, knows well the price of such a breach. In 2011, the company had costs above $170 million following the breach of the PlayStation Network that exposed data on over 100 million people.

While the latest attack did not expose customer data, over 50,000 employees and former employees have had their social security numbers and other data leaked. The company also had a few of its films leaked to the Web months before they hit theaters, which could lead to "an impairment charge of $83 million" for lost ticket sales and more.

In addition, there will be a major cost to investigate the hack, repair all damaged servers and PCs, and upgrade systems to avoid future attacks. For a few days, productivity at the studio even stopped completely as employees had to use pen and paper since their computers were unusable.

Sony has not estimated their costs, yet, as it assesses the full impact of the breach. The company did have insurance, by cybersecurity insurance will likely only cover a small portion, especially if it finds that Sony was negligent.


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1 user comment

110.12.2014 03:56

Actually Sony is going to make money because i dl'd a file... I wasnt going to go to Annie... Li'l Orphan Annie is iconic and no way can it be improved upon... the horrible song the cast did at the AMAs just reinforced my distaste for "blackifying" a childhood favorite

but when i heard it was hacked and released i dled it.

suprised the F**k out of me.
having seen it i now want to see it on the big screen. I have bought DVDs after preview on numerous occasions but this is the first time i have decided to go to a theatre to watch a movie i have previewed

I actually suggest the big screen to view this movie for the aerial shots as well as the much better choreographed songs that should immerse you while watching on the big screen

qazwiz is qazwiz everywhere. If you see me say HI!

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