Sony Pictures is an American movie studio and television production division focusing on live-action and animated films and television. The studio began in 1991 following its acquisition and renaming of Columbia Pictures Entertainment in 1989. In 2005, the studio acquired MGM Studios in a $5 billion deal. Sony Pictures is a subsidiary of Sony, the Japanese corporation that has an annual revenue of $70 billion (2007). Sony produces a wide range of popular consumer products such as computers, audio/visual equipment, semiconductors, music and software.