Also, the losses in EK's film sector probably have less to do with decreasing demand than an overall lack of internal strategy for how to maintain demand while expanding market share. A small, streamlined company possessing brands, capable manufacturing equipment and knowhow, and not encumbered with a lot of overhead and legacy expenses could probably grow their market share even as film demand weakens. There is good precedent of this; think of the tobacco industry. Few industries have had their bottom line so singularly attacked... realize that it actually became illegal for the tobacco industry to do their most effective advertising. Nevertheless, Philip Morris grew revenue very substantially, mostly by claiming a bigger chunk of the market share in the US, by looking abroad for other consumers.... and by looking at adjacent sectors and reaching into those.
So, a smaller, more agile company with less flab to carry might be just what the doctor ordered for EK.
I am not sayiing it's all roses, mind you; I am just saying it is possible that a film-focused spinoff could do better than the company as a whole.