Toshiba Corp. made difficult decision – they will abandon their giant LED display overseeing Times Square.

Toshiba will end its sponsorship of two very popular television shows in Japan, for which it has been their long-term sponsor. Its sponsorship of Sazae-san, a cartoon show, and another Sunday night show, will end at their fiscal year end on March 31st. How big a deal is this decision? Toshiba has sponsored Sazae – the Guinness World Record Holder for longest-running animated series – for the last 48-years, and the Sunday night show for 61 years

Toshiba has launched a series of fire sales to attempt to raise cash. They have sold their crown jewel, their memory chip business to a Japan-U.S.-South Korean group.. They have also announced the sale of their television division to China’s Hisense Group. Last year, Toshiba sold off their appliance division to China’s Midea Group.

The company also plans to raise ¥600 billion ($5.4 billion) through a new issue of shares. If drastic measures falls through, the company faces delisting from the stock market.