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Principato-Young Shakeup: Electus Becomes Majority Owner As Paul Young Exits & Peter Principato Re-Ups As CEO

August 7, 2017
BY Deadline - Mike Fleming Jr and Nellie Andreeva

In a major restructuring of manager/producer Principato-Young Entertainment, Electus has escalated its ownership from a minority to majority stake and co-founder Paul Young will be leaving after 17 years to form a new management/production company. Peter Principato has signed a long term deal and becomes president/CEO, and he will work closely with Electus CEO Chris Grant and COO Drew Buckley.

“From scripted to unscripted, across all platforms, serving and creating opportunities for talent is at the heart of Electus,” Grant and Buckley said in a statement to Deadline. “We are thrilled to expand our partnership with PYE as we collaborate to create innovative content for a global marketplace. We thank Paul Young for his many contributions to the exceptional company he co-founded, and wish him the very best in his next chapter. All of us at Electus are excited for what’s next as we continue working with Peter Principato and the fantastic partners, managers and clients of PYE.”

Continue reading the original article at Deadline.

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