Sony Said Near $1 Billion Home Entertainment Deal With TCL

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000A lineup of Sony TVs on display at a popular store in Edmonton, Alberta.Photographer: Artur Widak/NurPhoto/Getty ImagesSony Group Corp. is nearing a binding agreement to sell a majority stake in its home entertainment business to Chinese rival TCL Electronics Holdings Ltd. in a deal that may be valued at about $1 billion, according to people familiar with the matter.The companies have made progress on their negotiations and are seeking to announce a transaction as soon as this month, the people said, asking not to be identified because the information is private. While talks are at an advanced stage, no final decision has been made, the people said.