ViacomCBS Inc. VIAC is restructuring the management of its Paramount subsidiary, according to a Wall Street Journal report citing unnamed “people familiar with the matter.”
What Happened: In the new line-up, Brian Robbins, president of Nickelodeon, is to become president and CEO of Paramount Pictures. He will replace Jim Gianopolus, who is leaving the company.
David Nevins, CEO of ViacomCBS’s Showtime cable television network, will gain further responsibility as the head of Paramount TV Studios. He will replace Nicole Clemens, who is being reassigned to become head of scripted development at Paramount+.
Why It Matters: With Nevins at the helm, Paramount TV is expected to channel its priorities into content creation for ViacomCBS’s cable and streaming networks. Paramount TV currently makes shows for competitor streaming services including Apple Inc.'s AAPL Apple TV+ platform and Netflix Inc NFLX.
For Robbins, Paramount Pictures has a lot of catching up to do — two weeks ago, the company announced it was moving all of its remaining 2021 theatrical releases into 2022, effectively ceding its place in the lucrative year-end movie schedule to its competitors.
The last Paramount film release to date was the animated “PAW Patrol: The Movie” from last month, and the Paramount logo will not be seen on big screens again until a reboot of “Scream” on Jan. 14, 2022.
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