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Sony Irked Over Luxury Home Buy : Losses: Records show company spent $5.5 million for Guber property during Schulhof’s reign.

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TIMES STAFF WRITER

The dismissal last week of Sony Corp. of America Chief Executive Michael P. Schulhof raised a lot of questions about the company’s pricey spending habits.

There were the top-of-the-line chefs, the sushi bar in the ornate U.S. offices in New York and the $100-million-plus refurbishing of the studio lot in Culver City.

Now there’s the house.

Public records show that Sony, through an obscure real estate affiliate, paid $5.5 million in 1992 to buy the Bel-Air home of Peter Guber, who was chairman of Sony Pictures Entertainment until he was forced out last year shortly before the company disclosed a $3.2-billion loss stemming from problems in its movie unit.

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Three years later, Sony is still stuck with the home at 15433 Brownwood Place, which sources say is being leased out because selling it would be difficult in the still-soft market for luxury homes.

Although the home is reportedly fetching more than $8,000 a month, the deal has nonetheless irked Sony’s Japanese bosses as a symbol of the kind of misguided spending that Schulhof and Guber allowed, sources close to the company say.

A Sony spokeswoman said the home was bought as part of terms agreed to when Sony and Schulhof renegotiated Guber’s contract in 1992.

“It was decided Sony would buy his house. At that time, there was a real estate appraisal made. As you well know, the real estate market has fallen considerably since then,” the spokeswoman said.

She added that the company has yet to put the home up for sale and that it made a business decision to instead lease it because the leasing market had strengthened, especially after the Northridge earthquake.

Guber, reached late Monday, said: “Whatever they say, I go by. I don’t comment on my personal matters.”

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Public records show that the home is owned by Lawrence Real Estate Holdings. Separate records filed with the California secretary of state’s office show Lawrence’s mailing address at Sony’s Culver City offices, with longtime Sony lawyer Ronald Jacobi listed as president.

Guber continues to work under a rich production deal at Sony that Schulhof negotiated that is reportedly worth more than $200 million.

Schulhof’s handling of Guber was said to be one of the causes of tensions between Schulhof and Sony’s Tokyo headquarters.

Since Schulhof was forced out last week, Hollywood has been buzzing with rumors that Sony plans to evaluate the deal Schulhof made with Guber, who was a highly successful producer of such films as “Batman” and “Rain Man” with partner Jon Peters.

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