Good news for Monte & Avery Lipman surfaced the internet today. Universal has inked a new long-term deal making them Chairman & Chief Executive Officer and President & Chief Operating Officer of the company. If you are unfamiliar with the these two gentlemen, they founded Republic Records in 1995. Republic Records is home to Gotye, PSY, The Weeknd, Florence + The Machine and many more.

“Monte and Avery have established themselves as one of the industry’s most formidable creative teams,” Grainge said in a statement. “They are truly world class music executives who have rewritten the rules for breaking new talent. We couldn’t be more delighted that they will continue building Republic as a home for truly inventive artists.”

“Monte and Avery are two of the most entrepreneurial, effective, street smart, creative leaders in the music industry,” Weiss added. “Their track record is unparalleled. They constantly think out of the box and their results speak for themselves. This is great for them and for Universal Music Group, and is just the beginning of their next chapter.”

“We work every day towards building a culture that supports the artist community and the entrepreneurial spirit that shapes our company,” added Monte and Avery. “The unparalleled support of Lucian and Barry for Republic continues to inspire us to be competitive, while serving the needs of our extraordinary artists, venture partners, and dynamic executives.”

Props to Billboard Biz & AlLindstrom