Amy Pascal Signs Long-Term Deal With Sony Pictures

"Her leadership...brings enormous strength to all of our lines of business," said company chairman and CEO Michael Lynton.

Amy Pascal's successful reign as co-chairman of Sony Pictures Entertainment has been extended for another five years.

Along with chairman and CEO Michael Lynton, Pascal oversees the studio's motion picture operations (including its Columbia, Screen Gems and TriStar labels); worldwide TV production and distribution; home entertainment; and digital production via Imageworks and Sony Pictures Animation.

Pascal, just named to the second spot on  The Hollywood Reporter's annual Women in Entertainment Power 100 list, has been with the studio in various capacities for more than two decades. She was named chairman of Sony's motion picture group in 2003 and moved up to co-chair of SPE in 2006.

In 2009, Sony enjoyed its best year at the worldwide box office, counting up nearly $3.6 billion in ticket sales.

This year, its worldwide box-office revenue has amounted to more than $2 billion, led by such films as The Karate Kid, Grown Ups, Salt, The Other Guys and Eat, Pray, Love.

The studio also is fielding a potential awards winner in The Social Network, which has grossed more than $185 million worldwide.

As the studio readies The Green Hornet and The Smurfs for 2011 release, it's also reviving its Men in Black franchise and rebooting Spider-Man.

"I have never enjoyed a job more than this one, thanks to my partnership with Amy," Lynton said as part of the announcement of Pascal's contract extension. "Her leadership, business skills and candid, no-nonsense approach to problem-solving brings enormous strength to all of our lines of business, especially in this time of real challenge and change in our industry,"

"At Sony Pictures, two heads are smarter than one, more distinguished than one and more dynamic than one," Sony chairman, CEO and president Howard Stringer said. "Amy Pascal and Michael Lynton are synonymous with success and style, and under their leadership, the studio continues to be an immense source of pride for us all."

"Michael and I care deeply about the content Sony Pictures creates and we share a unified and committed vision toward the kinds of movies and television programming we want to make," Pascal said. "I am very lucky to have a boss in my corner like Howard. He has been a true champion of this studio, and he put Michael and me together as partners, and for that alone, I will always be grateful. There could be no better collaborator, no savvier businessman and no greater friend as we lead Sony into the future."