Magazine article Screen International

Paramount Chief Brad Grey Departure Said to Be Imminent

Magazine article Screen International

Paramount Chief Brad Grey Departure Said to Be Imminent

Article excerpt

After weeks of speculation, the studio's chairman and CEO is on his way out after a disastrous 2016 at the box office, insiders say.

Brad Grey's tenure at Paramount Pictures had been on shaky ground after a string of releases crashed and burned and now control of the studio is reportedly in the hands of an interim cabal of senior executives until a replacement is found.

The operating committee is understood to comprise Amy Powell, the highly regarded head of TV and digital, film chief Marc Evans, COO Andrew Gumpert, and marketing and distribution supremo Megan Colligan.

The group covers all aspects of the studio and has been given oversight by Bob Bakish, who was appointed CEO of parent company Viacom in December after vice-chairman Shari Redstone and her father Sumner Redstone called offa possible Viacom-CBS merger.

Grey assumed his role in 2005 after Sherry Lansing stepped down. Despite chronic concerns over a lack of a solid content supply structure, Paramount has chugged along.

The studio has shepherded tentpole franchises such as the jewel in the crown Transformers series, as well as the Star Trek reboot, Mission: Impossible, and to a lesser extent Jack Reacher.

However 2016 was a bad year in which Zoolander 2, Teenage Mutant Ninja Turtles: Out Of The Shadows and Whiskey Tango Foxtrot failed to deliver results.

Furthermore the studio announced a $115m write-down on Monster Trucks before it was even released and Ben-Hur self-destructed. …

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