Monte and Avery Lipman re-up with UMG

Universal Republic toppers sign new contracts

Signaling exec continuity in at least one of Universal Music Group’s divisions in the newly minted Lucian Grainge era, Universal Republic Records prexy-CEO Monte Lipman and co-prexy/chief operating officer Avery Lipman have signed new contracts.

Both pacts were called long-term agreements by the company, which offered no further information.

Deals were announced Tuesday by UMG CEO Grainge — who took solo reigns at the music company Jan. 1, after sharing the role for most of 2010 with outgoing CEO Doug Morris — and Universal Motown Republic Group chairman Mel Lewinter.

“Monte and Avery are two of the most innovative executives in the business today,” Grainge said in a statement. “From the time they launched Republic Records in 1995, to the formation of Universal Republic, they have displayed creative leadership at its very best.”

The Lipman siblings oversee a roster that includes Jack Johnson, Amy Winehouse, Damian Marley, Enrique Iglesias, Godsmack, Florence and the Machine and Owl City.