Electus has increased its stake in Principato-Young Entertainment (PYE), a management and production company.
Peter Principato signed a new long-term deal to become president and CEO of Principato-Young. He will work closely with Electus CEO Chris Grant and COO Drew Buckley. As part of the deal, PYE co-founder Paul Young has agreed to sell his interest in the company to Electus, which already held a minority stake, and will launch a new management-production venture that will allow him to more closely collaborate with artists to create original content.
Electus’ Grant and Buckley said, “From scripted to unscripted, across all platforms, serving and creating opportunities for talent is at the heart of Electus. 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.”