AP News

News Summary: Sony buys 11 percent of Olympus


NEW VENTURE: Sony Corp. said it will spend 50 billion yen ($640 million) for an 11 percent stake in Olympus Corp., expanding its sprawling electronics to movies business empire with a new venture — looking inside the human body.

ENDOSCOPES: Olympus Corp. is the world's biggest maker of endoscopes, which are the long, thin camera-equipped instruments that allow medical professionals to peer inside the body. It is also known for its cameras.

SHAKY GROUND: Olympus has been on shaky ground after Michael Woodford, its British chief executive, turned whistleblower and helped unearth a scandal involving a systematic cover-up of massive losses.


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