Sony Pictures Entertainment has brought on Erik Moreno to serve as Executive Vice President, Corporate Development and Mergers & Acquisitions. Moreno, who joins the company after his tenure as M&A executive at mass media corporation, Times Inc., will start August 8, reporting to Chairman and CEO Tony Vinciquerra and to CFO Philip Rowley.
The position will require Moreno to work with SPE’s senior executive team to develop growth strategies for the studio, identifying potential partnership or acquisition prospects and managing other business opportunities
Moreno joins the studio at a time when the entertainment and media business is seeing mergers and acquisitions being done on a large scale like the recent WarnerMedia sale to AT&T and the Disney/20th Century Fox acquisition. It’s also worth noting that his announcement comes on the heels of recent news that Sony is exploring a potential partnership for its ad-supported streaming service, Crackle, to increase its competitiveness in the marketplace dominated by Netflix, Hulu, and Amazon.
A graduate of Wharton School of the University of Pennsylvania, Moreno’s job resume includes Senior Vice President, Corporate Development for Fox Networks Group, Director of Corporate Development for eBay Inc., Vice President of Corporate Development and Strategy for Level 3 Communications, and Gleacher & Co., a boutique investment bank where he began his career.
In addition, SPE announced that Lauren Glotzer, who has served as EVP of Corporate Development for the last six years, is transitioning to EVP of Television Strategy and Operations, reporting to Mike Hopkins, Chairman of Sony Pictures Television.