"I am grateful to work with some of the finest minds in the entertainment business," Lynton said Tuesday, though the length of the deal was not revealed.
Michael Lynton has renewed his contract with Sony, where he holds the titles of CEO of Sony Entertainment and chairman and CEO of Sony Pictures Entertainment. His contract extension, the length of which was not revealed, was announced Tuesday by Kazuo Hirai, president and CEO of Sony.
Lynton joined Sony Pictures Entertainmnent in 2004 and has run the film studio with co-chairman Amy Pascal. In 2012, he was named chief executive of Sony Entertainment, adding oversight of the company's global entertainment business, including music and music publishing.
"Michael's steady leadership and strong vision for the digital future will help keep Sony's entertainment businesses stable and reliable contributors to Sony's growth," Hirai said in a statement. "I look forward to working closely with Michael in ensuring that music and pictures remain integral parts of our global strategy. We're thrilled he will continue at the helm for years to come."
Lynton said in a statement: "I am grateful to work with some of the finest minds in the entertainment business, starting with my partner at Sony Pictures, Amy Pascal, as well as Doug Morris at Sony Music and Marty Bandier at Sony/ATV. They are the best in their fields, and together we will strive to bring the very best films, music and television shows to our growing, global audiences.
In 2012, Sony Pictures achieved its best performance ever at the worldwide box office, taking in more than $4 billion and ranked first in North American theatrical market share among the Hollywood studios thanks to such films as "Skyfall," "The Amazing Spider-Man," "Men in Black 3" and "Hotel Transylvania."
Sony Music, led by CEO Doug Morris saw increases in digital revenue with a roster of performers that includes One Direction, Adele, Alicia Keys and Pink have driven growth. This past year, under the leadership of chairman and CEO Martin Bandier, Sony/ATV took over the administration of EMI Publishing.