The former Fox Networks Group chairman Tony Vinciquerra has been named CEO of Sony Pictures Entertainment in an attempt to stabilize the studio, which suffered a loss of $962 million dollars at the end of 2016.

Noting the challenges of the current marketplace for both the studio and the industry in general in how audiences consume media, Vinciquerra said,

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“I am thrilled to be joining SPE at such an exciting and dynamic time for the studio, and for the industry as a whole. 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.”

Current Fox Networks Group CEO Peter Rice, the role Franquiera head in 2011 while Rice was chairman of Fox Broadcasting’s entertainment division, noted:

“He’s intelligent, he’s thoughtful, he’s strategic, he’s a good manager. Tony’s great.”

 

Via hollywoodreporter.com, image Wikimedia Commons

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