Nikki Finke’s Deadline.com says the announcement could come as early as next week, which would give her a great chance to say, “Toldja.” According to Finke, the
Also expected to be given increased responsibility are Sony Corp. General Counsel Nicole Seligman (like Lynton a Stringer ally) and SCA EVP/CFO Rob Wiesenthal, the Financial Times reported Thursday morning.
Seligman will likely add the title of President of SCA, overseeing corporate functions such as its legal and communications teams. She'll shuttle between Tokyo and New York.
Wiesenthal is expected to take a senior operational role at Sony/ATV, having engineered the EMI Music Publishing deal, where he'll work in conjunction with Marty Bandier, according to the FT's Anrew Edgecliffe-Johnson. Bandier signed a contract extension earlier this week.
Lynton’s promotion has been expected because the SCA exec is close to Comcast's Brian Roberts and Steve Burke, who acquired NBC Universal. He's also a favorite of incoming Sony Corp. President/CEO Kazuo Hirai, who takes over next month. Stringer will retain the chairman title.
Lynton already oversees Sony’s movie and TV studio, distribution deals and global production operations. He previously was CEO of AOL Europe and before that headed Pearson’s Penguin publishing company as well as served a brief stint running Disney’s Hollywood Pictures.
What the appointment means for Sony Music and its labels remains to be seen. While the division has been dominating marketshare since the beginning of the year, holding the #1 slot for 12 weeks with Adele, Bruce Springsteen and One Direction, sales were down 11.7% to $1.6 billion, with profits off 21.7% to $196 million for the last fiscal year.
Although Lynton will assume oversight of Sony Music and Sony/ATV, he's not expected to play a high-profile operational role in the music businesses. “It’s more about who presents the budget to Tokyo,” one person familiar with the plan told Edgecliffe-Johnson.
MUSIC REVENUE TOPPED $17B IN 2023: RIAA
Streaming subscriptions lead the charge. (3/27a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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