Sony says no

Sony rejected a proposal from activist investor Daniel Loeb to spin off part of its entertainment business.

FB gets CMO

Facebook hired Gary Briggs, a veteran of Google and eBay, to be its first chief marketing officer as it seeks to expand its global brand.

Revlon’s buy

Revlon is buying back its former professional products division, Colomer Group, from CVC Capital Partners for about $660 million. It sold Colomer to CVC in 2000.

Sniff, sniff

Supermodel Cara Delevingne has been quietly dropped by clothing chain H&M after being photographed with a bag of mystery white powder outside her home in May, The Sun reported.

CFO on Time

Time Inc. has named Jeffrey Bairstow chief financial officer, succeeding Howard Averill, who is transitioning to exec VP and CFO of Time Warner.

Soon: Yodels

The new owners of Drake’s cakes say Coffee Cakes, Devil Dogs, Ring Dings and Yodels will return next month.

No Crudele

John Crudele is off this week.