Sony Pictures CEO says cost of hack is less disastrous than anticipated

Previous estimates of the Sony cyberattack projected costs to handle the matter could potentially reach up to $100 million.

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However, Sony CEO Michael Lynton said the associated costs likely will not be that high.

“I would say the cost is far less than anything anybody is imagining and certainly shouldn’t be anything that is disruptive to our budget,” Mr. Lynton said in a Reuters report.

Mr. Lynton said in the report the cost of the attack will be covered entirely by insurance, though he did not provide an estimate for what the costs would be.

On Nov. 21, Sony employees received messages indicating the Sony network servers had been hacked, and emails, personal health information and pirated copies of movies were accessed and, in some cases, released.

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