Jan 13, 2017

Sony Entertainment CEO resigns to focus on Snap

Dan Steinberg / AP

As Snapchat's parent company prepares for an IPO this spring, Sony Entertainment CEO Michael Lynton is stepping down to focus full-time on his new job as chairman of Snap the company told news outlets on Friday. He will stay on for six months to help his replacement, Sony Corporation CEO Kazuo Hirai, learn the ropes.

Lynton and his wife invested in the ephemeral messaging app in 2013 and he's since been a close mentor to co-founder and CEO Evan Spiegel. Lynton quietly became chairman last year.

Despite efforts to turn things around at Sony's entertainment division, Lynton had to deal with a lack of movie hits and a devastating email hack in late 2014.

Between the lines: While Spiegel has managed to lead the company rather successfully despite his young age, it's no surprise Snap is bringing on an experienced media executive like Lynton to help steer the ship—and instill confidence in bankers ahead of its IPO.

Go deeper

Updated 13 mins ago - Politics & Policy

U.S. enters 6th day of nationwide protests over George Floyd's killing

A protest in Philadelphia on May 31. Photo: Mark Makela/Getty Images

Local news footage captured a tanker truck appearing to drive toward protesters at a peaceful demonstration in Minneapolis, forcing demonstrators to quickly get out of the way of the incoming vehicle on Sunday evening.

The big picture: Protests have continued across the country for six days, as demonstrators call for justice in response to the deaths of George Floyd and other other black Americans who have died in police custody or who have been killed in racist attacks.

Updated 25 mins ago - Politics & Policy

Tanker truck plows into Minneapolis protesters

Authorities closed major roads at 5 p.m. local time in Minneapolis for the march. Photo: Chandan Khanna/AFP via Getty Images

Minnesota authorities said in a statement they're investigating as a criminal matter what happened with a truck that "drove into demonstrators" on a Minneapolis bridge Sunday evening while the eight-lane road was closed for a protest.

What they're saying: Minnesota Department of Public Safety tweeted, "Very disturbing actions by a truck driver on I-35W, inciting a crowd of peaceful demonstrators. The truck driver was injured & taken to a hospital with non-life threatening injuries. He is under arrest. It doesn’t appear any protesters were hit by the truck."

Inside Trump's antifa tweet

President Trump at Cape Canaveral on May 30. Photo: Paul Hennessy/SOPA Images/LightRocket via Getty Images

As recently as Saturday night, senior administration officials told me that the designation of a violent cohort of far-left activists, antifa, as a terrorist organization was not being seriously discussed at the White House. But that was Saturday.

Behind the scenes: The situation changed dramatically a few hours later, after prominent conservative allies of the president, such as his friend media commentator Dan Bongino, publicly urged a tough response against people associated with antifa (short for "anti-fascist").