Universal Pictures is taking the majority of its licensing operations in-house, according to a report on the TLL Daily Advisor.
Subscribers to The Licensing Letter were told of the news earlier this morning.
The new unit - Universal Partnerships & Licensing - joins the former Universal Consumer Products Group with Universal Studios Partnerships.
According to TLL, UP&L now has oversight of all consumer product licensing, film and home entertainment promotions and corporate alliances for theatrical, home entertainment, theme parks and stage productions for Universal.
Stephanie Sperber, who currently heads USP, will run the new division and assume the title of executive VP of Universal Partnerships and Licensing.
"Consumer products, partnerships and licensing have complimentary functions so centralising these operations makes good business sense," said a Universal spokesperson. "By putting our brand management efforts under one roof, we provide more effective servicing for our corporate partners and our studio."
SVP Amy Taylor will oversee UP&L's North American promotions, worldwide licensing and retail development. Meanwhile, David O'Connor, senior VP of brand management and marketing services for Universal Pictures, will also oversee marketing for UP&L.