Reuters reports that Sony, one of the world's largest media conglomerates and manufacturer of the PlayStation 3 video game console, is expected to soon post a loss of US$1.1 billion, the company's first loss in 14 years.

The article on Sony's huge loss also notes that last October the corporation forecasted an operating profit for the year that was equivalent to double the amount of their estimated $1.1 billion loss.

This will be the second time in Sony's history that they've gone public with a report of their losses, the first being in 1958.

Read the full story on Sony's operating loss on Reuters.