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Sony renewing contracts with music top men

By | Published on Friday 29 May 2015

Doug Morris

Sony Music boss man Doug Morris has inked a new two year deal to run the music major, according to the New York Post’s gossip chiefs, though he’s had to settle for a $17 million a year salary, what with these being challenging times for the record industry and all. Though some profit sharing could get him up to a more reasonable $20 million.

We should quickly note that even the Post included a statement from Sony Music HQ in the US stating that “those numbers are completely untrue and false”. Yes, both untrue and false. And we’re assuming that statement applies to the Post’s other bit of gossip, that over at the Sony/ATV publishing company Marty Bandier was set to extend his contract with the company for a mere $7 million a year.

Though however made-up – or not – those figures may be, it does seem that the Sony music companies will continue to be run by industry veterans Morris and Bandier – both in their 70s – for a while yet, which isn’t necessarily good news for the other high flyers towards the top of the Sony Music and Sony/ATV hierarchies.

But in the context of the wider Sony Corp, music is doing pretty well, so why rock the boat? The Post cites a source as saying: “[Sony] is struggling to fix the electronics business, their movie business was hit by [the hacking] scandal, [so] they feel like they can’t make a change right now on the music side”.

Sony Music predictably says it doesn’t comment on executive contracts, so one of you is going to have to pump Morris for information when he keynotes a Midem next week if we’re going to get to the bottom of this. We’d do it, but you know, stuff.