Ex-CBS President Stringer Reportedly Headed for Sony

Howard Stringer, the chairman of Tele-TV, is in “advanced negotiations” to become a top strategist at Sony Corp. in New York, according to sources close to the talks.

Stringer would fit into a plan outlined in January by Sony Corp. Chairman Norio Ohga to turn the New York base into a “second headquarters” that would function as a strategic brain trust rather than an operational unit, sources said.

Stringer, former president of CBS Inc., would not replace Michael Schulhof, who was ousted as head of Sony’s U.S. operations in December 1995, sources said. Hollywood executives such as John Calley, president of Sony Pictures Entertainment, and Tommy Mottola, head of Sony Music, would not report to Stringer.

Stringer is expected to announce his resignation from Tele-TV today. Tele-TV, formed in 1995 by a group of local telephone companies, is in the process of being shuttered by partners Nynex, Bell Atlantic and Pacific Telesis.

The company, formed to compete against the cable industry in delivering video services to consumers, foundered from the start. The partners disagreed on an approach, were hampered by technical problems and underestimated costs.

Tele-TV has scaled back the operation since the beginning of the year. Sandy Grushow, its president, settled his contract earlier this year for more than $8 million, before taking over as president of News Corp.’s 20th Century Fox Television. Sources estimate that Stringer could get as much as $15 million because the Bell partners agreed to compensate him for CBS options that he sacrificed to jump to Tele-TV.

Sources say Stringer has met with Sony’s top management several times since last year, introduced by Jeff Sagansky, who oversaw strategic planning of several operating units at Sony in New York before becoming co-president of Sony Pictures Entertainment last October.

Sagansky was president of CBS Entertainment under Stringer.

Though Stringer’s position in New York seems ill-defined, industry executives said he could help Sony if it proceeds with plans to take the entertainment division public. “If Sony is contemplating going public, he’s a good face to put on the company,” said one source.

Claudia Eller contributed to this report.