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Why Sony has dumped Australia’s most powerful man in Aussie pop music

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Sony Music USA has booted out the most powerful man in Australian pop music from the company’s Australian arm

Sony Music Australia’s CEO Denis Handlin reportedly handed in his resignation after 37 years at the helm.

Staff were alerted of Handlin’s sudden departure this morning by a company-wide email from the Chairman and CEO of Sony Music Group USA, Rob Stringer.

The news comes as the record label continues its investigations into allegations of harassment and bullying.

In the email, Stringer says “Denis Handlin will be leaving Sony Music Entertainment after more than 50 years with the Company, effective immediately”.

Stringer continues by noting “it is time for a change in leadership and I will be making further announcements in terms of the new direction of the business in Australia and New Zealand in due course.”

An Australian news outlet reportedly reached out to Sony’s head office last week with multiple complaints from former employees.

The complaints, which are aimed broadly at the workplace culture rather than specific individuals, include allegations of sexual harassment at work events, intimidating behaviour, alcohol abuse and the unfair treatment of women in the workplace.

Those complaints span more than twenty years, according to reports.

None of the former Sony employees the source spoke to made any allegations of sexual harassment against Handlin himself, however, each had been critical of the company workplace culture.

Following months of investigating claims, the media source sent a letter detailing the allegations to the head office in New York on 14 June.

On Monday a statement was issued by the chairman of Sony Music Entertainment, Rob Stringer, saying Handlin would be leaving “effective immediately”.

Handlin has been the chief executive of Australia’s most successful record label for 37 years and its chairman since 1996.

He played a central role in the careers of some of Australia’s most celebrated artists, including John Farnham, Midnight Oil, Silverchair, Men at Work and Human Nature.

He is the Australian Recording Industry Association’s longest serving board member.

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Money

Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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