Billionaire investor Dan Loeb's Third Point is taking a "wait-and-see approach" after Sony on Monday evening rejected its plan to spin off the company's entertainment business.
(Read More: Sony rejects Dan Loeb's spin off proposal)
The hedge fund with a 7 percent stake in Sony remains highly engaged and is leaving all options on the table, a source told CNBC. Even a proxy fight has not been ruled out, although it is not seen as likely given Sony's recent progress and commitment to improving its entertainment unit.
Third Point expects Sony to lay out a plan shortly to achieve better profitability in entertainment, and took credit for recent improvements, saying the pressure it has put on the company is a "win-win" for shareholders, sources said.