Michael Lynton Extends Sony Pictures Contract To 2012


Sony Pictures Entertainment Chairman and Chief Executive Officer Michael Lynton has had his contract extended to 2012, it was announced today by Sir Howard Stringer, Chairman and Chief Executive Officer of Sony Corporation.

(Photo: http://www.newscom.com/cgi-bin/prnh/20071003/LAW112)

Lynton joined Sony Pictures in January, 2004 and since that time the studio has enjoyed considerable stability and success across its lines of business, which include motion picture and television production and distribution, home entertainment acquisition and distribution and digital content creation.

"Michael Lynton's financial acumen and firm grasp of content in the digital era is exactly what's needed to lead a studio in the 21st century," said Sir Howard. "Together he and Amy have become a forceful and dynamic team, guiding the studio to even greater heights than I could have hoped. I am delighted that they will both continue on in their roles for years to come."

Under the leadership of Lynton and Co-chairman Amy Pascal, Sony Pictures broke the all-time motion picture industry record by taking in more than $1.7 billion at the domestic box office in 2006, with a record thirteen #1 films. Worldwide, SPE also had its best year ever in 2006, with more than $3.3 billion in box office receipts. This year, Sony's Spider-Man 3 holds the crown for biggest domestic box office performance of 2007. Last week, the studio crossed the $1 billion domestic box office mark for the sixth straight year, a feat accomplished by only one other studio in Hollywood.

In September, 2006, Pascal was promoted to Co-chairman of Sony Pictures and her contract was extended to 2011.

The studio has also seen growth in its domestic and international television, home entertainment and digital businesses. During Lynton's tenure, Sony Pictures has expanded its global presence with the creation of a vibrant international motion picture production group and the establishment of new television channels in countries around the world. Lynton has also overseen the studio's entry into the digital distribution of content, the development of the "Blu-ray" disc business and the acquisition of Crackle, an online streaming entertainment network.

"I am grateful to Howard for his confidence in me, and thankful that I have a chance to work with some of the best minds in the entertainment business, starting with my partner, Amy Pascal, as well as everyone who has helped us achieve so much these past few years," said Lynton. "I enjoy my work more than words can easily express, and hope to continue growing this business for years to come, as we expand globally and use new technologies to bring entertainment to more people in more ways than ever before."

"I could never imagine a better partner than Michael" said Pascal. "As good as things have been for us and the studio, I'm sure the best is yet to come."

During Lynton's time at Sony Pictures, the studio released such major motion pictures as The Da Vinci Code, Talladega Nights: The Ballad Of Ricky Bobby, Casino Royale, Superbad, The Pursuit of Happyness and Spider-Man 3, and produced the television shows Rescue Me, 'Til Death, Damages and Rules of Engagement and the mini-series Broken Trail, which recently won three Emmy Awards. Upcoming motion pictures on the 2008 slate from the studio include Bond 22, Hancock, You Don't Mess With The Zohan, Step Brothers and Angels & Demons, and the studio is producing 10 pilots for domestic broadcast and cable networks for the 2008-2009 season.

Lynton, who was born and raised in Europe, and attended Harvard College and Harvard Business School. He has previously worked on Wall Street and for The Walt Disney Company, Hollywood Pictures (serving as President), Pearson plc's Penguin Group (Chairman and CEO), AOL Europe (CEO), AOL International (President) and Time Warner International (President).

Lynton serves as a member of the board of the Public Theater in New York City, the Mark Taper Forum in Los Angeles and the Los Angeles County Museum of Art. He also helped establish and sits on the board of Donors Choose, which helps "citizen philanthropists" fund specific projects in high need schools.

   Jim Kennedy, SVP Corporate Communications
   Sony Pictures Entertainment

   Steve Elzer
   Senior Vice President, Media Relations
   Columbia Tristar Motion Picture Group
   (310) 244-7142

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SOURCE: Sony Pictures Entertainment

CONTACT: Jim Kennedy, SVP Corporate Communications of Sony Pictures
Entertainment, +1-310-244-6777, jim_kennedy@spe.sony.com; or Steve Elzer,
Senior Vice President, Media Relations, Columbia TriStar Motion Picture Group,
+1-310-244-7142, steve_elzer@spe.sony.com