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ENTERTAINMENT
March 16, 2010 | By Chris Lee
Administrators of Michael Jackson's estate and his longtime record label, Sony Music Entertainment, Monday announced a seven-year distribution deal for as many as 10 new Jackson projects, including unreleased recordings, DVDs and perhaps even video games, valued at as much as $250 million. "We and Sony feel that the future for Michael Jackson is unlimited," said John Branca, a special administrator for the estate. Rob Stringer, chairman of the Columbia Epic label group, a division of Sony, described the deal as a landmark for the recording industry.
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BUSINESS
March 22, 2012 | By Ben Fritz and Alex Pham, Los Angeles Times
Sony Corp. is tapping its Hollywood studio chief, Michael Lynton, as its top entertainment executive in the U.S., the latest development in a well-orchestrated succession plan atop the Japanese electronics and media giant. Lynton will soon be named chief executive of Sony Corp. of America, a role that adds oversight of the company's music sales and publishing businesses to his purview, according to people briefed on the matter but not authorized to speak publicly. He will continue to run movie and television studio Sony Pictures Entertainment in Culver City, although Sony's American unit is headquartered in New York.
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BUSINESS
April 8, 2000 | From Reuters
Sony Music Entertainment, home to such stars as Mariah Carey and Bob Dylan, will unveil plans Monday to start offering digital music downloads of its music at the end of this month, a company spokesman said. The announcement Friday by the unit of Japan's Sony Corp. follows on the heels of one made Thursday by BMG Entertainment. That company, a subsidiary of Germany's Bertelsmann, said it had formed an alliance with Liquid Audio Inc.
BUSINESS
February 2, 2012 | By Alex Pham and Ben Fritz, Los Angeles Times
Kazuo Hirai, whose 28 years at Sony Corp. steeped him in the gaming and music businesses as well as the consumer electronics side, has been appointed the struggling company's next president and chief executive. Hirai's promotion is effective April 1, the beginning of Sony's next fiscal year. The 51-year-old executive will succeed CEO and President Howard Stringer, who will remain as chairman. Hirai joined Sony in 1984, fresh out of college. His first job was as a junior marketing executive at a joint music venture owned by CBS and Sony in Japan.
BUSINESS
November 25, 1991 | From Times Staff and Wire Reports
Sony Music Debut Fizzles: Stock market doldrums, slumping company profits and the Rolling Stones joined forces to ruin Sony Music Entertainment's financial debut in Japan. Sony Music, a subsidiary of Sony Corp., did not attract a single trade on the Tokyo Stock Exchange. A British entrepreneur had announced that he had signed the Rolling Stones away from Sony, which bought CBS Records in 1988 to form Sony Music Entertainment. Sony Music shares, first offered at $52.40, dropped to $43.90.
BUSINESS
July 15, 1993 | From Times Staff and Wire Reports
Sony Buying Music TV and Film Unit: Cami Video, a division of Columbia Artists Management Inc., will be acquired by Sony Music Entertainment for an undisclosed price. Cami Video, which produces music television programs, will operate as part of Sony Crescendo, a new unit formed to expand Sony's classical music businesses. Peter Gelb was named Sony Crescendo president.
BUSINESS
March 1, 2003 | From Bloomberg News
Sony Corp.'s Sony Music Entertainment unit, which ranked fourth in U.S. album sales last year, bought a minority stake in Internet music service rival MusicNet. Sony Music, co-owner of the Pressplay online subscription-music service with Vivendi Universal, bought a MusicNet note that is convertible into a 4% stake in the venture.
BUSINESS
August 2, 2002 | Jeff Leeds
Sony Music Entertainment, whose artist roster includes such acts as Bruce Springsteen and Shakira, is terminating about 100 employees across several divisions. The move follows Sony's announcement last week that its music division had a quarterly loss of $86 million for the three months ended June 30, down from a $37-million profit a year earlier. The cuts affect about 2% of Sony Music's U.S. work force.
BUSINESS
November 2, 1993 | From Times Staff and Wire Reports
Blockbuster Entertainment Offering Planned: The video rental giant said it plans to sell 12.6 million shares of common stock that it will use to reduce debt that has climbed to about $1 billion with its $600-million investment in Viacom Inc. Analysts said the company should be able to trim its debt by about $350 million. Separately, Blockbuster, Sony Music Entertainment and Pace Entertainment Corp.
BUSINESS
July 15, 2000 | Chuck Philips
Sony Music Entertainment, home to such hit performers as Macy Gray and Celine Dion, slashed 500 jobs from its worldwide payroll--about 100 of which are in the U.S., sources said. The restructuring will be implemented across the board, with workers being purged from the payroll at the Japanese giant's record labels, manufacturing and distribution arms as well as in corporate and business affairs sectors. The cuts account for about 4% of Sony Music's 13,500-employee work force, sources said.
BUSINESS
March 3, 2011 | By Alex Pham, Los Angeles Times
Doug Morris has been named the new chief executive of Sony Music Entertainment, an appointment that was widely expected when Morris last year said he would step down as head of Universal Music Group at the end of 2010. Morris, 72, will succeed Rolf Schmidt-Holz on July 1, and Schmidt-Holz will exit Sony at the end of the month, when his contract expires. In the interim, Sony Corp. Chairman Howard Stringer will helm the music company. In a high-level corporate talent swap, a number of Sony executives are expected to move to Universal over the next few months, including Barry Weiss, the chairman of Sony's RCA/Jive Label Group, who is expected to lead Universal's operations in New York.
ENTERTAINMENT
December 23, 2010
Matt Damon has been in Chicago working on "Contagion," the pandemic thriller directed by Steven Soderbergh, and the actor said he's consciously tried to enjoy the experience because he doubts that he will have many more chances to work with the filmmaker. "He's retiring, he's been talking about it for years and it's getting closer," Damon said of Soderbergh, whose credits include "Erin Brockovich," "Ocean's Eleven," "The Informant" and "Sex, Lies, and Videotape. " Soderbergh turns 48 next month.
ENTERTAINMENT
March 16, 2010 | By Chris Lee
Administrators of Michael Jackson's estate and his longtime record label, Sony Music Entertainment, Monday announced a seven-year distribution deal for as many as 10 new Jackson projects, including unreleased recordings, DVDs and perhaps even video games, valued at as much as $250 million. "We and Sony feel that the future for Michael Jackson is unlimited," said John Branca, a special administrator for the estate. Rob Stringer, chairman of the Columbia Epic label group, a division of Sony, described the deal as a landmark for the recording industry.
ENTERTAINMENT
January 11, 2010 | By Geoff Boucher
With the exception of James Dean, who made only three films, there might be no pop-culture icon who has done more with less than the late Jimi Hendrix. The ultimate guitar hero released just three studio albums before his death in 1970, but new generations of music fans keep plugging into his amplified legacy. The volume of Hendrix's music is about to get turned up. Today, the Hendrix estate and Sony Music Entertainment will announce the March 9 release of a "new" Hendrix album, "Valleys of Neptune," which will feature a dozen unreleased recordings.
ENTERTAINMENT
September 19, 2009 | Harriet Ryan; Chris Lee
A Los Angeles Superior Court judge has approved a deal with Sony Music Entertainment to allow the soundtrack for the Michael Jackson movie "This Is It" to be released at the same time as the theatrical roll-out of the film. The move enables Sony and the superstar's estate to cash in on some synergistic marketing at a time when demand for Jackson-related properties remains high. In court documents, special administrators for Jackson's estate John Branca and John McClain had argued the deal would provide the estate with "an immediate and substantial cash advance from Sony."
BUSINESS
August 11, 2009 | Ben Fritz
Sony Pictures Entertainment received court approval to bring Michael Jackson to the big screen, and it set a release date on what just may be the toughest weekend of the year at the U.S. box office. The court's authorization, announced Monday in Probate Court by Los Angeles County Superior Court Judge Mitchell Beckloff, allows them to edit more than 80 hours of rehearsal and behind-the-scenes footage into a movie. The deal was negotiated last month by Sony Pictures and its sibling unit, Sony Music Entertainment, with the Michael Jackson Estate and AEG Live, producer of the late singer's planned London concert series.
ENTERTAINMENT
October 15, 1992 | ALEENE MacMINN, Arts and entertainment reports from The Times, national and international news services and the nation's press
N.W.A. Rift: Eric (Eazy-E) Wright, founder of the rap group N.W.A. and president of Ruthless Records, filed a $13-million racketeering lawsuit Wednesday in U.S. District Court in Los Angeles against fellow N.W.A. member Andre (Dr. Dre) Young and Sony Music Entertainment. The suit alleges that Young, with Sony's knowledge, hired thugs to physically intimidate Wright, forcing him to cancel the contracts of Ruthless artists.
BUSINESS
February 20, 2003 | Chuck Philips, Times Staff Writer
Sony Music Entertainment chief Andrew Lack is developing plans to slash tens of millions of dollars in costs by integrating a variety of record business operations around the world, sources said. Lack's blueprint to restructure Sony Corp.'s music division could result in the loss of more than 1,000 jobs worldwide, the sources said. The plan is coming together barely a month after the ouster of his predecessor, Thomas D. Mottola.
BUSINESS
June 2, 2006 | Lorenza Munoz, Times Staff Writer
Starbucks Corp. has named a veteran music executive and entertainment lawyer to oversee the leading coffee retailer's growing stable of Hollywood ventures. Starting Monday, Alan Mintz, formerly Herbie Hancock's manager, will lead Starbucks Entertainment, which will relocate June 12 to Santa Monica from corporate headquarters in Seattle. Starbucks wants to become an entertainment destination by selling books, music and movies alongside lattes and cappuccinos.
BUSINESS
November 20, 2003 | Jeff Leeds, Times Staff Writer
The chairman of Bertelsmann's board abruptly announced plans to resign Wednesday after objecting to the German media conglomerate's intent to merge its record label with Sony Music Entertainment, according to people familiar with the matter. Bertelsmann said that Gerd Schulte-Hillen, head of its supervisory board and a 34-year Bertelsmann veteran, decided to quit at the end of the year after having a dispute with management over "the strategic direction of the company."
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