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Sony Chief Tony Vinciquerra Issues Warning About Negative Effect of Union Contract Terms on U.S. Production
Sony chief Tony Vinciquerra said Monday that the union deals that halted the Hollywood strikes are forcing production out of the U.S.
Tony Vinciquerra, Sony Pictures Entertainment CEO, issued a warning Monday that the union deals that halted the Hollywood strikes are forcing production out of the U.S. Speaking at the TV market Mipcom in Cannes, where he received the Variety Vanguard Award, Vinciquerra said that the cost differential between the U.S. and other countries and regions like the U.K., Australia and Eastern Europe meant that Hollywood productions would continue to migrate abroad. He added that 15,000 non-union jobs had been lost over three years in the U.S. due to a downturn in the business.
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