{"id":1841,"date":"2008-06-05T06:01:07","date_gmt":"2008-06-05T05:01:07","guid":{"rendered":"http:\/\/www.filmdetail.com\/?p=1841"},"modified":"2009-07-01T22:34:05","modified_gmt":"2009-07-01T21:34:05","slug":"paramount-downsize-vantage","status":"publish","type":"post","link":"https:\/\/www.filmdetail.com\/2008\/06\/05\/paramount-downsize-vantage\/","title":{"rendered":"Paramount downsize Vantage"},"content":{"rendered":"

Just a few weeks after Warner Bros effectively shut down their specialty divisions<\/a>, comes the news that Paramount<\/a> is absorbing some of their specialty arm – Paramount Vantage<\/a> – into their main operations.<\/p>\n

\"\"<\/a><\/p>\n

Variety report the details<\/a>:<\/p>\n

Paramount is folding the marketing, distribution and physical production departments of Paramount Vantage into the larger studio. Three people will be laid off.<\/p>\n

Move comes on the heels of other recent developments that prove specialty labels are feeling the economic pinch.<\/p>\n

Time Warner turned New Line Cinema into a production label in April, laying off 450 staffers, and then in May shuttered Warner Independent Pictures and Picturehouse.<\/p>\n

Vantage’s merged marketing department will be led by worldwide marketing prexy Gerry Rich.<\/p>\n

Vantage execs Megan Colligan and Josh Greenstein landed promotions as co-presidents of domestic marketing, reporting to Rich.<\/p>\n

The consolidated distribution department will be led by Jim Tharp, president of domestic theatrical distribution, and the combined physical production department will be headed by Georgia Kacandes, executive vice president of physical production, who will report to Paramount Films production prexy Brad Weston.<\/p><\/blockquote>\n

This comes only 2 years after Vantage was launched at Cannes in 2006<\/a>.<\/p>\n

Despite the scaling back, it will still be run as a production label under president Nick Meyer.<\/p>\n

The three people laid off were distribution chief Rob Schulze, production head Mark Bakshi and marketing co-president Guy Endore-Kaiser.<\/p>\n

Paramount Film Group president John Lesher – the former agent who used to run Vantage until he was promoted to the main studio a few months back – says that he is still committed to the specialty arm:<\/p>\n

“We’re going to stay in this business. We’re committed to it and love it but in a disciplined way.”<\/p><\/blockquote>\n

This is the official press release from Paramount:<\/p>\n

Hollywood, CA (June 3, 2008) – Paramount Pictures and Paramount Vantage today announced the consolidation of its marketing, distribution and physical production departments, which will serve both entities.<\/p>\n

The merged marketing department will be lead by Gerry Rich (President, Worldwide Motion Picture Marketing).<\/p>\n

Megan Colligan and Josh Greenstein who were promoted to Co-Presidents of Domestic Marketing, will report to Mr. Rich.<\/p>\n

The consolidated distribution department will be lead by Jim Tharp (President, Domestic Theatrical Distribution) and the combined physical production department will be headed by Georgia Kacandes, Executive Vice President, Physical Production.<\/p>\n

Mr. Tharp and Mr. Rich will continue to report to Rob Moore, Vice Chairman, Paramount Pictures.\u00a0Georgia Kacandes will report to Brad Weston, President, Production, Paramount Films.<\/p>\n

\u201cThe new consolidated structure allows both Paramount and Paramount Vantage to leverage the strengths and resources of a combined talent base, while minimizing redundancies and optimizing efficiencies,\u201d said Rob Moore, Vice Chairman, Paramount Pictures.<\/p>\n

\u201cToday\u2019s change is in line with our strategy to restructure the business for the long term,\u201d added John Lesher, President, Paramount Film Group.\u00a0 \u201cIt takes into account the dynamic nature of the marketplace and positions Paramount for the future.\u201d<\/p><\/blockquote>\n

Although the situation here isn’t as drastic as the Warner Bros meltdown, Vantage is almost certainly going to be producing less specialty films per year.<\/p>\n

Added to that, logic would suggest that they would be more commercial titles given that this whole move is driven by the desire to make Paramount more profitable across the board.<\/p>\n

How has Paramount Vantage done over the last two years?<\/p>\n

From a distance the division appears to have had some notable successes, but when you look closely at even their most high profile films, there are some significant negatives if you look at them with a hard nosed accountant’s eye:<\/p>\n