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Tv & movie enterprise, Sony Pictures Entertainment, with its gaming enterprise, Sony Interactive Entertainment. In line with the experiences, such a restructuring would have placed Sony Pictures under Sony Interactive's CEO, Andrew House, although House wouldn't have taken over day-to-day operations of the film studio. In 1971, Masaru Ibuka handed the place of president over to his co-founder Akio Morita. In 2012, Kazuo Hirai was promoted to president and CEO, changing Stringer. Around that point, Norio Ohga took up the role of president. He encouraged the development of the compact disc (CD) in the 1970s and 1980s, and of the PlayStation in the early nineties. Ohga went on to buy CBS Records in 1988 and Columbia Pictures in 1989, vastly expanding Sony's media presence. In May 2014 the company introduced it was forming two joint ventures with Shanghai Oriental Pearl Group to manufacture and market Sony's PlayStation sport consoles and associated software in China.
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