Viacom CEO Bob Bakish continued his aggressive reorganization of the media conglomerate on Wednesday, announcing that Brad Grey will leave as CEO of Paramount Pictures. In a mover that follows a reorganization of Viacom’s cable TV network group, Bakish on Wednesday announced that Brad Grey will leave Paramount Pictures after 12 years atop the Hollywood studio.
Category: Paramount Pictures
The New Power of “Yes”: Who Actually Has Greenlight Authority at the Movie Studios
Paramount re-evaluates Brad Grey’s influence as industry upheavals alter internal politics all over town and committees become the norm. Gripes one producer, “You used to know whom to appeal to – and now you’re not sure.”
‘Split’ Tops Domestic Weekend Box Office for Third Time
Split took first place for the third straight weekend, grossing $14.6 million, slightly above analysts’ estimates . New release Rings from Viacom’s Paramount Pictures unit came in second place with $13 million, while carryover title A Dog’s Purpose from Universal finished third with revenue of $10.8 million, according to comScore data.
Super Bowl to Dwarf New Releases at Weekend Box Office
Theater traffic typically plunges on Super Bowl weekend and revenue from the top 10 films could total an “unexciting” $78 million this weekend, according to analysts at MKM Partners. Thriller Split from Comcast’s Universal Pictures unit should take first place at the domestic box office for the third straight weekend with revenue of $14 million, per the firm’s estimates.
The development continues the WGAE’s success in organizing digital news writers.
The editorial staff at MTV News plans to unionize with the Writers Guild of America, East, the guild announced Friday. A union spokesman told The Hollywood Reporter that about eighty percent of the fifty-employee bargaining unit had signed representation cards.
5 Great Media Stocks for 2017
With the pay-TV landscape continuing to evolve in an over-the-top world, analysts are singling out their top media stocks ahead of the new year. The media and entertainment industry was turbulent in 2016, as the arena for over-the-top services became more crowded than ever and a number of mega-deals were announced or fizzled out.
Hollywood’s Chinese Growth Engine Stalls in 2016
After growing nearly fourfold in the past five years, ticket sales in China are set for only a slight increase this year, bad news for studio profit margins. China’s box office, the engine of growth and safety blanket for Hollywood’s biggest budget films, is starting to show signs of age.