With Sony Corp. positioning for the handover of power from Chairman and CEO Howard Stringer to Kazuo Hirai, as previously reported, some of the other pieces of the new executive structure are falling into place.
The Chicago Tribune reports that Sony Pictures Entertainment Chairman and CEO Michael Lynton will likely take control of the company’s U.S. entertainment operations before the Stringer-Hirai transition takes place. The piece cites a report in Variety.
The piece reports: “Lynton would add the title of chief executive of Sony Corporation of America and assume oversight of Sony Music and Sony ATV, sources confirmed to Variety. Sony general counsel and executive vice president Nicole Seligman will also see an expanded role, likely as prexy of SCA.”
The plan remains in flux, the report notes.
The Tribune adds: “Lynton shares the Sony Pictures chairman title with Amy Pascal, who’s expected to continue in her co-chair role. She had traditionally reported to Stringer before his exit, effective April 1, and presumably will report to Lynton under the new arrangement.”
Sony ownership in Japan is rumored to be considering selling off the company’s U.S. entertainment operations, the report notes — even though that division is one bright spot for a company that has seen its consumer electronics division suffer setbacks.
The story also notes: “The company’s film and television division, meanwhile, eked out a profit, albeit barely. In 2011, SPE reported a profit of $7.2 billion, much of which came from the studio’s television arm.”