Snap swipes Sony's CEO ahead of IPO

Sony Entertainment CEO Michael Lynton is stepping down from his position as head of the film and television powerhouse to take on a more active role at Snap, the parent company of widely-used app Snapchat.

Lynton was an early investor in Snap and joined the board in June 2013, and became chairman late last year. He’ll stay on at Sony as co-CEO for a six-month wind-down period. The transition comes amid Snap’s move into the public sphere, as the company is widely believed to have filed confidentially for its IPO in November.

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