Sony Chief Executive Looking to Acquire Cash Money

(AllHipHop News) Doug Morris, Sony's chief executive of Music Entertainment, who recently left Universal after 15 years, has his eyes set on some of rap's largest labels as their looming distribution contracts expire.

My plan here is very simple,” Doug Morris told the New York Times. “To help create the pre-eminent record company in the world.”

Things are changing quickly at Sony, as last week, after months of talks, Morris signed Dr. Luke, who has produced pop hits for Katy Perry and Kesha. By creating what is now Kemosabe Records in collaboration with Dr. Luke, Sony gets exclusive rights to Dr. Luke’s production for the next five years.

Part of Morris' plan also includes bidding on the contracts for Cash Money and Big Machine. In what likely will be a bidding war with Universal, Bryan "Birdman" Williams and Ronald "Slim" Williams will have to decide where to take Cash Money Records.

Mr. Morris has also cleaned house by replacing several top executives in Sony’s international division and streamlined the label structure according to the New York Times article.

After enduring layoffs and instability in Jive and Arista, Morris also has hired Antonio "LA" Reid to upgrade the now independent Epic removing it from under Columbia Records.

“In each company that I’ve gone to run, that’s always been the same question,” Mr. Morris told the New York Times. “And each company has gone to be the No. 1 company and the most innovative company. And I think the reason I’m never getting the credit for this is because I’m the oldest guy.”

While some feel things are improving at Sony Entertainment and the music division of the company, Sony Corporation announced expected losses of $1.2 billion this year.

“Our core focus still needs to be developing hits,” he said. “That’s the only constant amidst all the change. So if you don’t get that right, it doesn’t matter how revolutionary the distribution model is or how many revenue streams you have. You still have to have the hits.”