Amy Pascal steps down as co-chairman of Sony Pictures

Source: AP-Excite

LOS ANGELES (AP) — Amy Pascal will step down as co-chairman of Sony Pictures Entertainment and head of the film studio, nearly three months after a massive hack hit the company and revealed embarrassing emails.

Pascal, one of the most powerful women in Hollywood and the force behind such critical and commercial hits as "The Social Network" and "American Hustle," will launch a major new production venture at the studio focused on movies, television and theater, Sony Pictures said Thursday. Her career with Sony has spanned nearly 20 years.

During the hack, Pascal came under fire for racist remarks about President Obama's presumed choice in movies that surfaced in leaked emails. She apologized for "insensitive and inappropriate" comments in her emails that she called "not an accurate reflection of who I am." Pascal also faced criticism for green-lighting the film that may have inspired the hacking to begin with: "The Interview," which starred Seth Rogen and James Franco as bumbling journalists tasked with killing North Korean leader Kim Jong Un.

Pascal will transition to the new venture in May. Sony Pictures will finance Pascal under a four-year contract and retain all distribution rights worldwide to funded films. The venture will be located at the Sony Pictures lot in Culver City, California.

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FILE - In this Oct. 4, 2013 file photo, Amy Pascal, Sony Pictures Entertainment co-chairman, arrives at Variety's 5th Annual Power of Women event at the Beverly Wilshire Hotel in Beverly Hills, Calif. Sony on Thursday, Feb. 5, 2015 announced that Pascal will step down as co-chairman of Sony Pictures Entertainment and head of the film studio, nearly three months after a massive hack hit the company and revealed embarrassing emails. (Photo by Jordan Strauss/Invision/AP, File)


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