Michael Lynton, who led Sony Pictures Entertainment through a massive cyberattack and a period of mounting struggles at the box office, is leaving his job. Lynton, 57, who has held the top spot at the Culver City movie and television studio for 13 years, will step down as CEO of Sony Entertainment on Feb. 2 in order to focus his energies on social messaging service Snapchat, where he is chairman of the board.
Nicole Seligman has resigned her post as president of both Sony Entertainment and Sony Corp. of America, according to an individual familiar with the exit.
Sony Pictures Television has gone largely underacknowledged, but that is changing, partly because of prodding from one of its largest shareholders. Sony Entertainment, which produces cable hits like Breaking Bad and the lucrative Dr. Oz Show, has historically provided very little financial transparency, reporting its film and TV operations on a combined basis, for instance. Analysts can only guess at how much money the TV side generates, estimating that it now contributes more than 50% of the studio’s operating income.