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' The music business had to reach outside of the music business Lack, 55, worked at CBS News from 1976 to 1993 before joining NBC News " "I am thrilled to have been asked to join Sony Music Entertainment, to help define and establish its primacy in this new era," he said "Andy has made significant contributions to NBC's success over the last decade, particularly in leading our news organization to a preeminent industry position," said Wright 7 percent from the previous year "He is a talented leader and I'm sure he will do well in his new role, and we wish him great success " 24 percent last year, while some major rivals' shares increased Lack called it "a pivotal point in the evolution of all content business "If he's successful in making the record industry follow more general business principles '" Lack's tenure saw resurgent news ratings and included the creation of MSNBC But its market share of album sales slipped slightly, from 15 Billboard's Ellis said Lack could help create a new business model for the industry The music business has to be entirely re-invented 1 network His predecessor had resigned after a scandal over a staged "Dateline NBC" report on truck safety "It is an acknowledgment that the business model for the record business is broken and needs to be fixed He was named president of the entire network in May 2001 " Wolff said the appointment was "a recognition that `we in the music business have no idea how to solve the problems of our collapsing industry Andrew Lack, a veteran newsman with no background in the music industry, is expected to take the label's helm sometime next month Howard Stringer, chairman of Sony Corp NBC said Friday that Lack's position will not be filled; executives who previously reported to him â€â€? including News President Neal Shapiro and Entertainment President Jeff Zucker â€â€? will now report to Wright 1 among the coveted 18-to-49 demographic Michael Wolff, media columnist for New York magazine, said Lack's main contribution at NBC was to its news division, which was suffering from eroded ratings and prestige when he took over then I think it may be a successful model In Lack's first full season at NBC, in 2001-2002, the network regained its position as the nation's No Album sales declined for the second straight year in 2002, down 10 " Wolff called Lack "an inspired choice " Stringer is a former CBS News president who worked with Lack at that network and, like Lack, went on to become a network president, at CBS The music industry is suffering not only from declining sales, but from Internet piracy and a growing push by artists to make contracts more equitable " Sony enjoyed several high-profile, multiplatinum hits last year from such acts as Bruce Springsteen, Dion and the Dixie Chicks; it garnered numerous Grammy nominations on Tuesday He's a good, smart all-round media guy "All of us in the music industry tend to assume that only people in the music industry have a monopoly on understanding our business, but the truth is that it is a business like any other business," he said Mottola plans to start a new label, expected to be backed by Sony of America, said in a statement Friday that Lack will help "transform our music business in this most challenging time for that industry But Lack's relationship with NBC chairman Bob Wright was widely reported to be rocky 83 percent in 2001 to 15 Sony Names Lack to Head Music Division Jan 10, 4:17 PM EST Searching for new ways to manage its struggling music division, Sony made an unconventional choice Friday and tapped NBC's president and chief operating officer to be the new chief of Sony Music "It is precedent-setting in that in recent times, we have not gone outside the music industry for a head of a music label," said Michael Ellis, managing editor of Billboard, the music industry trade magazine " Lack succeeds Tommy Mottola, who announced his departure from Sony Music on Thursday Sony Music is third among the big five labels and has suffered from declining revenues So far this season, CBS leads in viewership, but NBC remains No "Early on," Lack recalled a few years afterward, "there were times I thought to myself, `Maybe this is the way it feels just before the lights go out "I believe films like Mother India, Ganga Jumna, Mughal-e-Azam, my own Sholay, Lagaan and Sanjay Leela Bhansali's Devdas and his forthcoming film are of an international calibre without losing their cultural flavour "This festival is meant to broaden the base of Bollywood through films that have great emotive value for Indians," said Shailendra Singh, managing director of Percept IMC, which has joined hands with Sahara India for this venture Filmmaker Ramesh Sippy, whose Sholay has just been re-issued in Mumbai to a huge audience and critical response, fully backs the endeavour to take the films abroad A festival like the one organised by Sahara can go a long way in familiarising western audiences with our style of filmmaking," said Bachchan With their fingers into as many as 46 large Hindi projects including major films being produced by Boney Kapoor and Ram Gopal Varma, it was the $11 billion Sahara India that decided to take the globalisation of Bollywood cinema very seriously through these festivals " Amitabh Bachchan, who has been a vocal champion of Indian cinema's global appeal, feels the time is ripe for Bollywood to acquire a sanctity and legitimacy and identity of its own outside home territory I believe Sholay has an appeal and impact that doesn't tie it down to any one specific culture or people Thousands of people across the world are experiencing the glamour, vibrancy and magic of the largest film industry in the world," said Singh The 10-day festival in Britain featured Mehboob Khan's Mother India, Ramesh Sippy's Sholay and Ashutosh Gowariker's Lagaan to large attentive audiences With a reported asset base of $10 Mother India "Why not? It's about time our cinema was judged on its own terms instead of Western or Hollywood yardsticks "This celebration of Indian cinema takes our classics to London, New York and San Francisco 98 billion, Sahara India is now hugely and fully into the movie business Globalisation of Bollywood cinema Subhash K Jha (Indo-Asian News Service) Mumbai, September 3 Advertisement Buoyed by its success with the festival of classical Indian movies in Britain, Sahara India is moving to the US where it hopes to build on the global aspirations of Bollywood We've the capacity and wherewithal to create our own identity in the West |
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