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AMATO OUT AT BIBLE

John Amato is stepping down as CEO of Billboard and The Hollywood Reporter, the publications' parent company has announced. 

Valence Media co-CEOs Asif Satchu and Modi Wiczyk broke the news by memo to staff, and said that an "interim leadership plan" would be forthcoming. They added that editorial leadership of BB and THR would remain.

No reason for Amato's exit was given, though the announcement underscores a realignment of media properties under the Valence umbrella that began on 2/1. An internal investigation into claims that Amato had suppressed sexual-harassment stories about Charlie Walk reportedly followed a Daily Beast story in April.

Stay tuned.

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