Doug Morris‘ latest prescription to breathe new life into Sony Music is to get a doctor in the house. He’s finalizing a five-year deal to create a new company with uber-producer Dr. Luke which sources say could be worth up to $60 million.
Dr. Luke, a k a Lukasz Gottwald, is behind a string of top 10 hits for Katy Perry, Miley Cyrus, Ke$ha, Britney Spears and Kelly Clarkson, including “California Gurls,” “Party in the USA,” “Tik Tok,” “Hold It Against Me” and “Since U Been Gone.”
Luke’s label, Kemosabe Entertainment, is already based at Sony’s RCA. But the new deal would vastly expand his role at the conglomerate. He is also behind music publishing companies Kasz Money Productions and Prescription Songs.
A source familiar with the deal told Page Six that Morris, the former Universal Music Group honcho who took Sony’s reins as chairman a month ago, is looking to make Luke “his new Jimmy Iovine.” Currently chairman of UMG’s Interscope-Geffen-A&M, Iovine started as a producer for Bruce Springsteen, U2, Tom Petty and Stevie Nicks before launching Interscope and discovering acts like Eminem and Lady Gaga. He’s also an “American Idol” mentor.
Some insiders say that Morris may be “overpaying” to strike the deal, but one added, “Doug would pay what it takes.” Sony, meantime, has been consolidating its other labels, including Columbia.
Music consulting firm RM64 Media said on its blog last month that Morris and Luke were locked in negotiations to partner.
“I want to see some radical thinkers and some radical hires,” Morris said when he took over at Sony. He subsequently tapped L.A. Reid to head Epic Records and Sylvia Rhone to revive defunct label Portrait.
A Sony rep said, “There is no deal.” Dr. Luke’s reps did not respond to requests for comment.