Amy Pascal Named Co-Chairman of Sony Pictures Entertainment and Extends Employment Agreement to 2011

Amy Pascal Named Co-Chairman of Sony Pictures Entertainment and Extends Employment Agreement to 2011

CULVER CITY, Calif., Sept. 6 /PRNewswire/ -- Amy Pascal has been promoted to Co-Chairman of Sony Pictures Entertainment and has extended her deal with the studio to 2011, it was announced today by Michael Lynton, Chairman and Chief Executive Officer of Sony Pictures Entertainment.

(Photo: http://www.newscom.com/cgi-bin/prnh/20060906/LAW128 )

In addition to her new title, Pascal will continue to serve in her role as Chairman of the studio's Motion Picture Group. Lynton remains Chairman and CEO of the studio, and the two will continue to report to Sir Howard Stringer, Chairman and Chief Executive Officer of Sony Corporation.

The move recognizes Pascal's vast contributions to the company and was initiated by Lynton, who wanted to formalize the strong relationship he and Pascal have forged as partners, managing the operations of Sony Pictures.

"This richly deserved promotion reflects the reality of our partnership here at Sony Pictures. Ever since Howard brought us together, Amy and I have been partners in running the studio, and I really wanted our titles to reflect our teamwork," said Lynton. "Amy's contributions to Sony Pictures, across all our divisions, have been invaluable."

During the past five years combined, no studio has performed better in North America than Sony Pictures Entertainment. Since January, 2002, the studio has released 37 #1 films. Sony was #1 in market share in 2002 and 2004 and was #2 in 2003. Sony is the only studio to exceed the $6 billion dollar mark in domestic box office sales between 2002 and 2006.

To date this year, Sony has released 8 #1 films, including The Da Vinci Code, Talladega Nights: The Ballad of Ricky Bobby, Click, R.V., Pink Panther, Silent Hill, Underworld: Evolution and When A Stranger Calls. The studio has exceeded more than $1 billion in North American ticket sales for five consecutive years, a record matched by only one other studio in the history of domestic box office.

Upcoming films from Sony Pictures include the launch of Sony Pictures Animation and their debut title Open Season, Pursuit of Happyness, starring Will Smith, Casino Royale, the 21st James Bond adventure, The Grudge 2, and Nancy Meyers' The Holiday, starring Cameron Diaz, Jack Black, Jude Law and Kate Winslet, among many others.

Sir Howard Stringer said, "When Michael came to me with the idea of naming Amy co-chair, it made perfect sense, because this is clearly a case of the whole being even greater than the sum of the parts. Michael and Amy are very talented people in their own right, but there's a magic to their partnership that makes Sony Pictures the best studio in the business."

"With the industry coming to terms with the challenges of a new era of entertainment, Michael and I share the same vision as we navigate Sony Pictures into the future," said Pascal. "I couldn't be more grateful to Michael and Howard for their unflinching faith and continued support. We have had much success over the past several years and that is a testament to the phenomenal talent of the people in production, marketing, home entertainment, television, digital and all our business units. I am extremely proud of the team we have in place and, with Michael, I look forward to building upon the record we've established."

Under Pascal's guidance, Columbia Pictures has made history with such blockbusters as The Da Vinci Code, which achieved the biggest international opening weekend in history, and Spider-Man(R). Other hits produced and released during Pascal's tenure include Spider-Man(R) 2, Hitch, Fun With Dick and Jane, R.V., The Grudge, 50 First Dates, Something's Gotta Give, Closer, Big Fish, Guess Who, Bad Boys 2, S.W.A.T., Once Upon A Time in Mexico, Charlie's Angels(R): Full Throttle, Panic Room, Mr. Deeds, Men in Black II, Charlie's Angels(R), Big Daddy, Stuart Little and A Knight's Tale.

Pascal was a studio executive at Columbia from 1987 to 1994, after which she was named President of Production for Turner Pictures where she remained for two years. She rejoined Columbia in 1996 as President.

Earlier in her career, Pascal served as Vice President of Production at 20th Century Fox. Before joining Fox, she worked for producer Tony Garnett at Kestrel Films, an independent production company affiliated with Warner Bros.

During the past two decades, Pascal has overseen the production of such hit films as Michael, Groundhog Day, A League of Their Own, Little Women, and Awakenings, among many others.

In addition to her achievements in filmed entertainment, Pascal serves on the AFI Board of Trustees as well as the Executive Board of the UCLA School of Theater, Film and Television. She graduated from UCLA with a degree in International Relations.

About Sony Pictures Entertainment

Sony Pictures Entertainment (SPE) is a subsidiary of Sony Corporation of America (SCA), a subsidiary of Tokyo-based Sony Corporation. SPE's global operations encompass motion picture production and distribution; television production and distribution; digital content creation and distribution; worldwide channel investments; home entertainment acquisition and distribution, operation of studio facilities; development of new entertainment products, services and technologies; and distribution of filmed entertainment in 67 countries. Sony Pictures Entertainment can be found on the World Wide Web at http://www.sonypictures.com/.

Contact:

Steve Elzer
Senior Vice President, Media Relations
Columbia TriStar Motion Picture Group
(310) 244-7142
steve_elzer@spe.sony.com

Jim Kennedy
Senior Vice President, Corporate Communications
Sony Pictures Entertainment
(310) 244-6777
jim_kennedy@spe.sony.com

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060906/LAW128
AP PhotoExpress Network: PRN19
PRN Photo Desk, photodesk@prnewswire.com
Source: Sony Pictures Entertainment

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

Web site: http://www.spe.sony.com/

-------
Profile: intent