Chairman of Sony Pictures renews contract

Sony Pictures Entertainment Chairman and Chief Executive Michael Lynton has signed on for five more years at the studio, which he has overseen since 2004.

Lynton, who is known for his business acumen, has governed Sony’s movie, television, home entertainment and digital initiatives with his creative partner, co-Chairman Amy Pascal. Under their leadership, the studio has enjoyed a long list of hits including the “Spider-Man” films, the James Bond sequel “Casino Royale,” “The Da Vinci Code” and “The Pursuit of Happyness.”

Sony had its best box-office year ever in 2006, with more than $3.3 billion in worldwide ticket sales, and last week crossed the $1-billion domestic-box-office mark for the year. On the television production side, Sony currently has a number of shows on the air including “Damages,” “Rules of Engagement” and “ ‘Til Death.”

With his background and expertise in the overseas marketplace and the new-media arena, Lynton has helped expand Sony’s global businesses, increasing the studio’s efforts to produce local-language movies in new markets such as India and Russia, establishing new television channels in Europe and Latin America and overseeing its foray into digital distribution. Lynton also has been an outspoken advocate of Sony’s Blu-ray disc initiative and oversaw the acquisition of online video site Crackle.

In 2005, Lynton helped spearhead Sony’s investment in the legendary studio Metro-Goldwyn-Mayer Inc. Although the relationship has been troubled, it did yield Sony ownership of one of the great movie franchises of all time, James Bond.

In a phone interview Wednesday, Lynton said he was delighted to extend his employment contract through 2012.

“This is the most fun job I ever had,” Lynton said. “It’s varied. It moves quickly so you’re always engaged in something, and more than anything I love the atmosphere and working with Amy” Pascal, who last September was made his co-chairman and extended her contract to 2011.

Lynton, a Harvard Business School graduate who was born in London and raised in Holland, had worked at two Wall Street investment banking firms from 1982 to 1985 before becoming a top executive at Walt Disney Co. for nine years (in its publishing unit and Hollywood Pictures) and later at Penguin Group and AOL Europe.

claudia.eller@latimes.com