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Tag: Brad Grey

  • Viacom announces leadership transition at Paramount Pictures, CEO Brad Grey to step down

    MUMBAI: Viacom Inc. has announced that Brad Grey will step down from his role as chairman and chief executive officer of Paramount Pictures. The company is commencing a comprehensive search to identify a successor, and Grey will remain at Paramount for a period to support the transition.

    Viacom president and CEO Bob Bakish, who would be present at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco, on 1 March, will work closely with Paramount’s leadership team, including Marc Evans (President, Motion Picture Group); Andrew Gumpert (Chief Operating Officer); Amy Powell (President, Paramount Television and Digital Entertainment); Megan Colligan (President, Worldwide Distribution and Marketing) and Mark Badagliacca (Chief Financial Officer), to maintain momentum until a new CEO is appointed.

    “Brad has overseen the production and distribution of some of Paramount’s most celebrated hits, and more recently championed the successful relaunch of the studio’s television division. We are grateful for his 12 years of extraordinary service and wish him every continued success,” said Bob Bakish. “Paramount has produced some of the most recognizable and cherished films in Hollywood, making it a key part of Viacom’s history, and our future. As we look ahead, I couldn’t be more excited by our early plans to re-energize the slate, more deeply integrate the studio and networks, and make the most of our incredible assets.”

    “It has been my privilege to be a part of Paramount’s storied history, and I am grateful to Sumner Redstone for giving me this opportunity. I want to wish Shari, Bob and their entire team the best as they embark on Viacom’s next chapter,” said Brad Grey. “From the moment I came to Paramount in 2005, I saw myself as a steward of an iconic institution. In that time, it has been my great honor to work with a group of wildly talented storytellers. But above all, I am indebted to the wonderful people at this studio, whose creativity, professionalism and integrity are second to none.”

    US$1.3 bn subordinated debt offering

    Viacom announced that it has agreed to sell US$ 650 million in aggregate principal amount of 5.875 per cent fixed-to-floating rate junior subordinated debentures due 2057 at a price equal to 100.000 per cent of the principal amount thereof (the “NC5 Debentures”) and US$ 650 million in aggregate principal amount of 6.250 per cent fixed-to-floating rate junior subordinated debentures due 2057 at a price equal to 100.000 per cent of the principal amount thereof (the “NC10 Debentures” and, together with the NC5 Debentures, the “Debentures”).

    The sale of the Debentures is expected to close on 28 February, 2017, subject to customary closing conditions. Viacom intends to use the net proceeds from the offering primarily for the repayment of outstanding indebtedness.

  • Sony’s Andrew Gumpert joins Paramount Pictures as COO

    Sony’s Andrew Gumpert joins Paramount Pictures as COO

    MUMBAI: Former president of worldwide business affairs and operations for Sony’s Motion Picture Group and veteran Hollywood finance authority Andrew Gumpert has joined Paramount Pictures as its chief operating officer. The film studio’s chairman and CEO Brad Grey announced the hiring of Gumpert.

    With this new role, Gumpert is in charge of business affairs, home entertainment and television transactional distribution. He will also oversee the studio’s operations ranging from strategic planning, to labor relations, to parks and resorts. Gumpert replaces long-time COO Frederick Huntsberry who was at Paramount for a decade.

    At Sony, Gumpert arranged the studio’s financial partnerships with MGM, Lone Star Capital, Village Roadshow, China’s Dalian Wanda Group, etc.

    Gumpert joined Sony Pictures Entertainment in 2005 as the executive vice president of business affairs for Columbia Pictures. Several reports suggest that Gumpert resigned from Motion Pictures Group on 8 November because of the studio’s chairman Tom Rothman’s micro-management and contentious manner. Before this, he led business and legal affairs for Miramax’s Dimension Films division.

  • Sony’s Andrew Gumpert joins Paramount Pictures as COO

    Sony’s Andrew Gumpert joins Paramount Pictures as COO

    MUMBAI: Former president of worldwide business affairs and operations for Sony’s Motion Picture Group and veteran Hollywood finance authority Andrew Gumpert has joined Paramount Pictures as its chief operating officer. The film studio’s chairman and CEO Brad Grey announced the hiring of Gumpert.

    With this new role, Gumpert is in charge of business affairs, home entertainment and television transactional distribution. He will also oversee the studio’s operations ranging from strategic planning, to labor relations, to parks and resorts. Gumpert replaces long-time COO Frederick Huntsberry who was at Paramount for a decade.

    At Sony, Gumpert arranged the studio’s financial partnerships with MGM, Lone Star Capital, Village Roadshow, China’s Dalian Wanda Group, etc.

    Gumpert joined Sony Pictures Entertainment in 2005 as the executive vice president of business affairs for Columbia Pictures. Several reports suggest that Gumpert resigned from Motion Pictures Group on 8 November because of the studio’s chairman Tom Rothman’s micro-management and contentious manner. Before this, he led business and legal affairs for Miramax’s Dimension Films division.

  • MPAA extends CEO Chris Dodd’s contract to 2018

    MPAA extends CEO Chris Dodd’s contract to 2018

    MUMBAI: The Motion Picture Association of America, Inc. (MPAA) has extended chairman CEO Chris Dodd’s contract to 2018.

     

    In a joint statement, MPAA member companies’ representatives namely – Twentieth Century Fox chairman and CEO Jim Gianopulos, Paramount Pictures chairman and CEO Brad Grey, Walt Disney Studios chairman Alan Horn, Sony Pictures Entertainment chairman and CEO Michael Lynton, NBC Universal vice chairman Ron Meyer, Universal Filmed Entertainment chairman Jeff Shell, Warner Bros. Entertainment chairman and CEO Kevin Tsujihara said, “We are pleased to announce that Chris has agreed to extend his contract into 2018. He has been an impactful leader and a vigorous champion for the industry. We are confident he will continue to effectively help steer our interests through a challenging media and policy landscape and represent our member companies around the globe.”

     

    Dodd added, “I am grateful to our member companies for their continued support. This is an exciting time of almost unparalleled creativity and innovation in film and television and I look forward to continuing to promote and protect that creativity, and the jobs of the men and women who go to work in this industry every day.”

  • Paramount, Warner Bros to co-produce and distribute Christopher Nolan’s ‘Interstellar’

    Paramount, Warner Bros to co-produce and distribute Christopher Nolan’s ‘Interstellar’

    MUMBAI: Paramount Pictures and Warner Bros. Pictures has said that writer/director Christopher Nolan‘s ‘Interstellar‘ will be co-produced and distributed by the two studios, with Paramount Pictures handling Domestic distribution and Warner Bros. Pictures distributing the film Internationally.
     
    ‘Interstellar‘ will be released beginning 7 November, 2014, in theaters and Imax.
     
    Directed and written by Academy Award-nominee Nolan, ‘Interstellar‘ is based on a script by Jonathan Nolan. The film will be produced by Emma Thomas and Christopher Nolan of Syncopy Films and Obst of Lynda Obst Productions. Kip Thorne will executive produce. The film will depict a heroic interstellar voyage to the furthest reaches of our scientific understanding.
     
    Paramount Pictures Chairman and CEO Brad Grey said, "As a filmmaker and storyteller, Chris has continuously entertained the world with his extraordinary and unparalleled talents. I am pleased beyond measure to welcome him to the Paramount Pictures family. Partnering with Chris, Emma, Lynda and Warner Bros. to release this original idea next November is the perfect way to start the Thanksgiving and holiday movie season for audiences around the world."
     
    Warner Bros. Pictures Group President Jeff Robinov said, "Christopher Nolan is truly one of the great auteurs working in film today, and we‘re extremely proud of our successful and ongoing collaboration with him and Emma Thomas. We are excited to be teaming with Paramount, and look forward to working with the Nolans, and producer Lynda Obst, on this extraordinary new project."

  • Paramount Studios set for $700 mn makeover

    Paramount Studios set for $700 mn makeover

    MUMBAI: Paramount Pictures is in plans to have a $700 million upgrade of its Hollywood headquarters admeasuring 62 acres.

    The studio, launched in 1926, is filing applications with the city of Los Angeles for what it has named the Hollywood Project, a 25-year plan to improve its existing studio lot and adjacent properties.
     
    Most of the development will take place at the studio‘s main 56-acre plot that was created when Paramount bought the former RKO Studios from Desilu Productions in 1967.
     
    Portions of the plot along Melrose and limited areas within the main production area are being targeted for development.
    Paramount said it will reach out to the local community to offer information and answer questions about the project over the next several months. It said that the capital improvements will create nearly 7,300 jobs during construction and 12,600 jobs during operations with the project estimated to generate $3.1 billion in economic output annually.

    Said Paramount chairman and CEO Brad Grey, "As the last major studio physically located in Hollywood, this project is fundamentally about maintaining a robust and healthy entertainment industry in Los Angeles, laying the long-term foundation to preserve and grow jobs and employment in the heart of the entertainment industry, as well as ensuring that the legacy and heritage of this iconic studio are protected for future generations."

  • Paramount debuts films on iTunes

    Paramount debuts films on iTunes

    MUMBAI: Paramount Pictures has announced the debut of hit movies on the online iTunes Store.

    From this month, movie fans will be able to choose from over 100 movies from Paramount Pictures, Paramount Classics, MTV Films, and Nickelodeon Movies. Titles from Paramount Vantage will be available later in the year.

     
    The titles and genres includes comedies such as School of Rock and Zoolander, action-thrillers such as A Sum of All Fears and The Italian Job, classics such as Chinatown and Breakfast at Tiffany’s and science-fiction favorites such as the first six Star Trek movies. These movies are available for purchase and download for $9.99 and can be viewed on a computer or fifth generation iPod.

     
    Paramount chairman and CEO Brad Grey says, “Paramount is excited to offer hit movies on the iTunes Store. We think iTunes customers are going to love the wide range of titles to choose from, and we look forward to partnering with Apple to make more great Paramount content available in the future.”

    Apple CEO Steve Jobs says, “We’re thrilled to add these hit movies and classic titles from Paramount to the growing iTunes movie library. iTunes is the largest online video store in the world with over 1.3 million movies sold to date.”

  • MTV and Nickelodeon to take on larger role at Paramount

    MTV and Nickelodeon to take on larger role at Paramount

    MUMBAI: Viacom Inc.s has announced that MTV and Nickelodeon will become full labels under the Paramount Motion Picture Group (PMPG) as part of a new structure designed to deepen their already successful track record with their core target audiences.

    The two former production companies, which previously operated as on-lot producers, will now join several other labels under PMPG’s umbrella, including Paramount Pictures, DreamWorks SKG, Paramount Vantage and Paramount Classics.

    “After successful 12-year stints as production companies at Paramount, we are going to upgrade MTV and Nick to full movie label status,” says Viacom president & CEO Tom Freston.
    “This will expand their role at Paramount, will better leverage their considerable talent and marketing capabilities, and will allow for smoother day to day management on the lot with strong connections back to the core brands. This move plays perfectly to our company’s unique strengths and will surely increase the positive momentum that we’re seeing at Paramount under the leadership of Brad and his team.”

    “MTV and Nickelodeon are two of the strongest brands in entertainment reaching families and young adults,” says Paramount Pictures Corporation chairman & CEO Brad Grey. “We look forward to great films and a great future with these two new labels at the Paramount Motion Picture Group.”

    “In partnership with Paramount, this new model represents a great opportunity to build on the growing success we’ve experienced making movies over the last decade,” adds MTV Networks chairman & CEO Judy McGrath. “We believe that together we can take these brands to the next level, attract the best talent and material across genres, and really tap into our strong relationships with kid, teens, young adults and families around the globe.”

    Additionally, Paramount and MTV Networks named veteran producer Scott Aversano President of MTV Films and Nick Movies, giving him responsibility for film development, production and acquisitions for the two film labels. Aversano will work on the lot, reporting to Paramount Pictures president Gail Berman. On all image- and brand-related matters for these pictures, he will also report to MTV Networks Music Group president Van Toffler and Nickelodeon and MTV Networks Kids and Family Group president Cyma Zarghami, states an official release.

    Aversano will assume his new position effective immediately, transitioning from his current role as an independent producer for Paramount Pictures. Prior to his producing deal with Paramount Pictures, Aversano spent more than seven years with producer Scott Rudin, most recently as president of Production, the release adds.

    “MTV and Nickelodeon are household names with audiences in every corner of the world,” says Aversano. “I’m excited to embark on this new challenge to continue bringing movies to the marketplace that utilize Viacom’s unique strengths in targeted demographics.”

    MTV Films and Nick Movies will continue to release films targeted to their respective demographics; with Nick Movies releasing animated and family films, and MTV Films focusing on comedies, documentaries, urban fare and horror films for teens and young adults.

  • Paramount ropes in former NBC Universal hand Huntsberry as COO

    Paramount ropes in former NBC Universal hand Huntsberry as COO

    MUMBAI: The Viacom-owned film studio Paramount Pictures has announced the appointment of Frederick Huntsberry as its chief operating officer. In his new role at Paramount, Huntsberry will be responsible for worldwide strategic planning and operations for the studio.

    Huntsberry comes to Paramount after 12 years with General Electric Co., the parent company of NBC, where he served as NBC Universal Television Distribution EVP as well as Universal Pictures interim president and COO.

    “With Frederick’s unique experiences and skills, I know he will be a tremendous addition to our management team as we continue to lead Paramount to a bright future,” Paramount chairman and chief executive Brad Grey has been quoted in media reports as saying.

    Paramount has also announced the expansion of the profile of its president Rob Moore. Moore, who had been in charge of marketing and distribution, will now take charge of its home entertainment and digital operations as well.