MUMBAI: Sony Pictures Entertainment has promoted Amy Pascal to cochairman and has extended her deal with the studio to 2011. This announcement was made by chairman and CEO Michael Lynton.

In addition to her new title, Pascal will continue to serve as chairman of the studio's Motion Picture Group. Both Pascal and Lynton will continue to report to Sony Corporation chairman and CEO Howard Stringer.

The move recognizes Pascal's vast contributions to the company and was initiated by Lynton, who wanted to formalize the strong relationship he and Pascal have forged as partners, managing the operations of Sony Pictures, according to an official release.

"This richly deserved promotion reflects the reality of our partnership here at Sony Pictures,” Lynton said. “Ever since Howard brought us together, Amy and I have been partners in running the studio, and I really wanted our titles to reflect our teamwork.”

Sony is the only studio to exceed the $6 billion dollar mark in domestic box office sales between 2002 and 2006. To date this year, Sony has released eight films, including The Da Vinci Code, Talladega Nights: The Ballad of Ricky Bobby and Click.

Upcoming films from Sony Pictures include the launch of Sony Pictures Animation and their debut title Open Season, Pursuit of Happyness, starring Will Smith, Casino Royale, the 21st James Bond adventure, The Grudge 2, and Nancy Meyers' The Holiday, starring Cameron Diaz, Jack Black, Jude Law and Kate Winslet, among many others.