Former SonyBMG boss Andy Lack, who pissed off many a traditional record label exec, especially BMG execs after the Sony BMG merger, by telling them they were insane for failing to spot other ways to generate revenues from their recording catalogues, has got a new job leading the multi-media division of finance news firm Bloomberg.
It is a return to home ground for Lack, who prior to joining Sony Music headed up US TV firm NBC, and prior to that NBC News and before that CBS News. As boss of Sony Music he took on the CEO role at SonyBMG after the merger, but was sidelined into the Chairman's role after he failed to overcome boardroom squabbles between former Sony and BMG executives. As I remember it, he spent some time working on new and multimedia business models and projects for SonyBMG after stepping back from a hands on CEO role.
Anyway, despite mixed feelings towards Lack among the more traditional record label chiefs, Bloomberg President Dan Doctoroff seems very happy to have recruited him, saying: "Andy Lack is a news legend. His extraordinary accomplishments at NBC and CBS News and his innovative work in the entertainment industry at Sony Corp qualify him uniquely to lead Bloomberg's multimedia businesses".