{"id":109003,"date":"2024-10-01T06:23:33","date_gmt":"2024-09-30T23:23:33","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=109003"},"modified":"2024-10-01T06:23:33","modified_gmt":"2024-09-30T23:23:33","slug":"ceo-tony-vinciquerra-exiting-ravi-ahuja-succeeds-him","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=109003","title":{"rendered":"CEO Tony Vinciquerra Exiting, Ravi Ahuja Succeeds Him"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tIn a surprise executive shuffle, <a href=\"https:\/\/deadline.com\/tag\/sony-pictures-entertainment\/\" id=\"auto-tag_sony-pictures-entertainment\" data-tag=\"sony-pictures-entertainment\">Sony Pictures Entertainment<\/a> Chairman and CEO <a href=\"https:\/\/deadline.com\/tag\/tony-vinciquerra\/\" id=\"auto-tag_tony-vinciquerra\" data-tag=\"tony-vinciquerra\">Tony Vinciquerra<\/a> is stepping down from his CEO role, effective Jan. 2, 2025. SPE\u2019s current Chairman of Global Television Studios and President and COO, <a href=\"https:\/\/deadline.com\/tag\/ravi-ahuja\/\" id=\"auto-tag_ravi-ahuja\" data-tag=\"ravi-ahuja\">Ravi Ahuja<\/a>, will be taking the reigns as SPE President and CEO.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tAhuja will report to Sony Group Corporation Chairman and CEO Kenichiro Yoshida and Sony Group Corporation President, COO and CFO Hiroki Totoki. Vinciquerra will stay on in an advisory role for SPE as non-executive Chairman until the end of December 2025. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tThe news comes in the wake of Sony Pictures Entertainment, along with Apollo, <a href=\"https:\/\/deadline.com\/video\/like-a-dragon-yakuza-trailer-amazon\/\" data-type=\"link\" data-id=\"https:\/\/deadline.com\/video\/like-a-dragon-yakuza-trailer-amazon\/\">making a go to acquire Paramount Global last summer<\/a> for $26 billion. Despite Sony losing Paramount to Skydance, that\u2019s not the reason for Vinciquerra\u2019s exit. Rather, I\u2019m told, a succession plan has been in place for the last two-and-half-years. <a href=\"https:\/\/deadline.com\/2024\/03\/sony-pictures-ravi-ahuja-1235847546\/\">One indication of what was in store to come<\/a>: Ahuja\u2019s elevation to President and COO last March. During his time as Fox Networks Group CEO, Vinciquerra hired Ahuja in 2007 as CFO, the former a mentor to the latter. Vinciquerra brought Ahuja over to SPE three years ago with the intention that he would ultimately lead the company.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tVinciquerra praised Ahuja to Deadline today, saying, \u201cHe has very good EQ and IQ. He\u2019s much smarter than I am. And much better with people than I am.\u201d\u00a0<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tVinciquerra came out of retirement and arrived at Sony in June 2017 following the Culver City lot\u2019s rattling from the North Korea hack. Vinciquerra made it his business to put the studio\u2019s cards back in order; predominantly he kept Sony from turning itself into a streamer \u2014 maneuvers which have cost their motion picture studio competition dearly in billions of red ink investment\u2013 while also pivoting Sony Pictures Television away from broadcast into a streaming content supplier.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tOr as Sony brass proudly coin the conglom: a content \u201carms dealer.\u201d  <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tIt\u2019s a strategy that proved strong through Covid as rivals fell prey to the temptations of streaming, and even throughout the dual strikes to the point where Vinciquerra shaped Sony from being a previously buzzed about acquisition target pre-Covid to the big kid on the playground with the potential to wrangle a major studio such as Paramount Global. Sony craved Paramount\u2019s IP of <em>Star Trek, Mission: Impossible<\/em>, and <em>Transformers, <\/em>however, being a Japanese owned conglom, not to mention a non-M&amp;A friendly presidential Joe Biden administration, were serious hurdles in any marriage between the Culver City and Melrose Ave. lots. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tConsider the \u201carms dealer\u201d business model, a tried and true for the future of Sony. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\t\u201cThere\u2019s a long tail there,\u201d Vinciquerra tells Deadline. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tHe expounds, \u201cWhen we made the decision not to get into general entertainment streaming, we also made the decision to get into genre-based streaming which is where Funimation and Crunchyroll came from. But we knew that there\u2019s no entertainment company in the world that can supply all the content needs necessary to compete either as a broadcast network 35 years ago or a streaming service today. They all need outside creative forces to help them to be on their game, to be competitive, to be sharp. I think this strategy will be fine as long as there are competitors in the streaming service.\u201d <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tSPE\u2019s yield under Vinciquerra includes five consecutive years of increasing profit powered by its feature slate, reimagined TV business and M&amp;As in key growth areas, read the acquisition of anime content brand Crunchyroll in 2021. That anime label is bound to be one of Sony\u2019s largest businesses in the next two years. The label is profitable in its 15M subs who pay as much as $9 apiece. Theatrical, whether it\u2019s a big grossing movie like <em>Dragon Ball Super: Super Hero <\/em>($38.1M domestic) or a lower grossing movie like <em>Spy x Family Code: White <\/em>\u2014 is all gravy.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tOther big feathers in Vinciquerra\u2019s cap during his run include hammering the <a href=\"https:\/\/deadline.com\/2021\/04\/netflix-sony-pictures-licensing-deal-streaming-starz-spider-man-1234730124\/\">Netflix licensing deal for its feature films<\/a>, reported to be worth $1 billion. That deal replaced Sony\u2019s long-running pay-one cable TV window with Starz. The terms included Netflix having an 18-month exclusive window for Sony films, as well as a first look for direct-to-streaming titles. It was another example of Vinciquerra\u2019s prescience on the linear business, grey clouds which he spotted while running 400 networks at Fox.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tVinciquerra tells Deadline, \u201cThe most important decision was to get out of the linear TV network business. When I arrived here, we had 110 cable networks, and we got out of most of them and we don\u2019t have that albatross around our neck like most of our competitors. Streaming will eventually become profitable, the linear channel business will not improve. It\u2019s on a negative path.\u201d <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tDivesting non-core businesses at Sony was also key during Vinciquerra\u2019s run, i.e. selling its majority stake in the 2006 $65M price tag Crackle streaming service to Chicken Soup for the Soul, as well as unloading most of SPE\u2019s international cable networks as that market began to wane. Crackle was bleeding $35M annually with a staff of 300 before Sony unloaded it to Chicken Soup for the Soul. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tOf late, Sony Corp posted a 10% rise in operating profit for its most recent Q1, beating analyst estimates. Profit was $1.9B. The $582 billion-plus market cap conglom\u2019s stock reached a 52-week high on Jan. 12. Sony Motion Picture Group hit a $1 billion mark at the 2023 box office, +20% from 2022.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\t\u201cThe extraordinary turnaround at SPE over the last 10 years would not have been possible without Tony\u2019s deep experience and expertise in the entertainment space, his strategic vision and his outstanding leadership,\u201d said Yoshida in a statement. \u201cUnder Tony\u2019s watch, SPE became a critically important part of our efforts to maximize the value of our IP and find synergies across all our entertainment and technology businesses, and it remains a key driver in Sony Group\u2019s ongoing corporate strategies to lean further into the creative and entertainment spaces. I want to thank Tony for his years of dedication and leadership at SPE, and for his invaluable support across the group companies during his successful career at Sony.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tYoshida continued, \u201cSince joining SPE in 2021, Ravi has been at the center of Tony\u2019s leadership team, navigating the unprecedented challenges of today\u2019s media and entertainment environment and positioning SPE for further growth. Ravi brings with him years of experience from his time at some of the world\u2019s most successful entertainment companies, and we look forward to working more closely with him in his new role as President and CEO of SPE.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\t\u201cWhen I stepped into this role seven and a half years ago, I would\u2019ve never imagined the extraordinary industry disruption and opportunity we\u2019d face,\u201d said Vinciquerra. \u201cI\u2019m filled with immense gratitude for this exceptional company and its profound legacy in Hollywood history. I\u2019m consistently inspired by my brilliant and resolute colleagues. Together, against the odds, we achieved remarkable success and have consistently proven that this is a community built on passion and resilience. Thank you for making these past seven and half years the most gratifying of my career. My sincere appreciation goes to Kazuo Hirai for offering me this opportunity in 2017, and to Kenichiro Yoshida and Hiroki Totoki for their leadership and unwavering trust and support over the years. I have the utmost confidence that SPE will continue to thrive in the years ahead and know that Ravi is the right leader to take SPE forward.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tAhuja arrived at SPE in 2021 to oversee all production businesses for Sony Pictures Television (SPT) and the studio\u2019s India business as Chairman of Global Television Studios.\u00a0 SPT and its production companies produce several award-winning and acclaimed television series including <em>The Crown, The Boys, Gen V,<\/em> <em>Cobra Kai, Better Call Saul, The Last of Us, Outlander, For All Mankind, The Night Agent, Twisted Metal, The Wheel of Time, S.W.A.T., The Good Doctor, Wheel of Fortune, Jeopardy!, Shark Tank, American Idol, So You Think You Can Dance, 90 Day Fianc\u00e9, Octonauts, SuperKitties<\/em>, and many more.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tAhuja has also overseen SPE\u2019s M&amp;A activities, including the acquisitions of dine-in exhibitor Alamo Drafthouse, award-winning nonfiction entertainment company Industrial Media, leading UK production company Bad Wolf and VFX company, Pixomondo, as well as the sale of GSN Games to Scopely. Wall Street scratched their heads in June when it was announced Sony was taking Alamo in the midst of talks with Skydance. However, for Sony, it was a direct means to communicate with close to 5M moviegoers in the Alamo Drafthouse loyalty program. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tPrior to SPE, Ahuja was President of Business Operations and CFO of Walt Disney Television. Before joining Fox Networks in 2007 as CFO, Ahuja spent eight years at Virgin Entertainment Group, Inc. in increasingly responsible executive roles, ultimately becoming CFO. Prior to joining Virgin, he was in the consulting practice at McKinsey &amp; Company and began his career in investment banking.<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\t\u201cIt is my privilege and honor to take the helm at SPE,\u201d said Ahuja. \u201cThis is a special place \u2014 an iconic studio with an extraordinary 100-year history of storytelling. Thanks to Tony\u2019s remarkable leadership, we have leading businesses with clear strategies and are set up for even greater success in the years to come. I am energized by the opportunities ahead and am lucky to work alongside thousands of talented colleagues around the world at SPE and at our Sony sister companies. I am grateful for Tony\u2019s mentorship, guidance and friendship through the decades, and I thank Yoshida-san and Totoki-san for entrusting me with this important role.\u201d<\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tEven though Sony didn\u2019t scoop up Paramount, they\u2019re not out of the M&amp;A business. <\/p>\n<p class=\"paragraph larva \/\/ lrv-u-margin-lr-auto     \">\n\tVinciquerra told us about the industry\u2019s future: \u201cThe next 18-24 months of our business is going to be pretty chaotic, but at the end of it with the buys and the sells, the companies that survive will be in very good shape. They will have dealt with the cable networks. At the end of that chaotic period, the only thing we\u2019ll know is that the demand for entertainment isn\u2019t going down, it will expand, it will increase. We\u2019ll be stratified, more genre based. It will be a good business and the companies providing the entertainment will be on much stronger financial footing.\u201d<\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/deadline.com\/2024\/09\/sony-tony-vinciquerra-ravi-ahuja-1236103582\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a surprise executive shuffle, Sony Pictures Entertainment Chairman and CEO Tony Vinciquerra is stepping down from his CEO role, effective Jan. 2, 2025. SPE\u2019s current Chairman of Global Television &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=109003\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-109003","post","type-post","status-publish","format-standard","hentry","category-entertainment","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/109003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=109003"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/109003\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=109003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=109003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=109003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}