Sony Pictures boss Michael Lynton is expected to be named to a newly created position overseeing all of the US entertainment businesses as part of an overhaul of the struggling entertainment and electronics giant, The Post has learned.
Lynton, who runs Sony Corp.’s Hollywood operations, will be put in charge of an expanded portfolio that includes recorded music and publishing, television production and cable operations, sources said.
The move is part of a major shake-up by former Sony PlayStation chief Kazuo Hirai, who is tasked with turning around the Japanese conglomerate when he takes over as president and CEO from Howard Stringer on April 1. Stringer will become executive chairman in June.
Hirai is said to want to focus on Sony’s slumping consumer electronics business, such as flat-screen TVs and digital cameras, while leaving Lynton to deal with the entertainment companies. Hirai’s arrival also returns the seat of power to Tokyo after more than a decade under Stringer, who split his time between Tokyo and the US.
Sony’s entertainment businesses include: Sony Music Entertainment; music publishing arm Sony/ATV; and Sony Pictures Television, which makes shows such as AMC’s “Breaking Bad.” Sony also has a stake in a joint-venture 3D channel, 3Net, with Discovery Communications and IMAX.
Lynton’s new duties are not expected to include the PlayStation gaming business in the US, although that could change amid internal discussions over the final shape of the restructuring.
His elevation will leave Sony Pictures Co-Chairman Amy Pascal with a fiefdom of her own, including Sony’s big summer release, “Amazing Spider-Man,” starring Andrew Garfield of “Social Network” fame.
Sony-Columbia was the No. 3 studio behind Paramount and Warner Bros. in 2011, with a total box-office gross of $1.27 billion. The year before, it ranked fifth with a box office of $1.28 billion.
Another top lieutenant, General Counsel Nicole Seligman, is also expected to broaden her role and could take on the added title of president.
Earlier this week, Sony confirmed that it would extend the contract of Sony/ATV boss Martin Bandier, who will stay on as chairman and CEO as the company tries to gain regulatory approval to complete its pending acquisition of EMI’s music-publishing business.
Sony didn’t return a call for comment.
Last month, Sony forecast a loss of $2.86 billion for the fiscal year that will end March 31, while the company looks at cutting head count and shedding businesses.
“There is no area we are leaving as a sacred area,” Hirai said in an interview last month with the Wall Street Journal.
Sony’s entertainment division is a small portion of overall sales. Excluding currency fluctuations, operating income for the film unit jumped 22 percent in the quarter ended December, while the music division’s operating income fell 1 percent.