Sony Corporation has named former Fox Networks CEO Anthony Vinciquerra as the new chairman and CEO of Sony Pictures Entertainment.
He starts on June 1 and will be reporting to Sony Corporation President and CEO Kazuo Hirai. Vinciquerra will replace SPE Chairman and CEO Michael Lynton, who announced in January that he would step down earlier this year to focus on Snapchat and become chairman of the board at Snap, the company that runs Snapchat.
Vinciquerra will be running Sony’s Motion Picture Group, Sony Pictures Television and SPE's Worldwide Media Networks division.
Prior to taking the job at Sony, Vinciquerra spent almost 10 years at Fox where he served as chairman and CEO of Fox Networks Group. Before that, he was with Hearst Corporation’s broadcasting group and CBS's television group.
"Tony is a proven, results-oriented leader with extensive experience running and driving growth in large, complex media and entertainment businesses," said Hirai in a statement. "His operating skills, effectiveness working with creative teams and expertise in managing digital disruption and new technologies make him the perfect choice to lead SPE, and build on the studio's turnaround efforts to date. I want to thank Michael for his years of service and dedication to the success of our entertainment businesses, and for his commitment to our CEO search and this transition."
"I am thrilled to be joining SPE at such an exciting and dynamic time for the studio, and for the industry as a whole," said Vinciquerra in a statement. "Everything about how we produce, distribute and consume content is changing, and I see tremendous opportunities working with the enormously talented teams at SPE, Sony Corp and the other Sony companies. I want to thank Kaz for giving me this opportunity and I look forward to hitting the ground running."
The appointment of Vinciquerra comes after reports earlier this year that Sony was interested in selling off its TV and film businesses.
According to the New York Post, banks are flooding into Sony’s offices in Tokyo to offer advice on the potential sale of the business unit, which has struggled. The report suggested that CBS may still be interested in buying the Sony division but that it may have competition from other interested companies in China.