CBS Studios & Paramount TV Studios restructure; Netflix not in “Theatrical Business”; and more

CBS Studios & Paramount TV Studios Restructure

It was something of a whiplash Wednesday for CBS Studios and Paramount TV as their expected alignment along with the Paramount+ scripted originals team came together. The moves are resulting in staff cuts, including the departures of Paramount TV Studios’ SVP Kim Rozenfeld and EVP John Lynch.

Meanwhile, Jana Helman has been named head of development for Paramount TV Studios with the Paramount+ scripted originals team folded into PTVS.

During the mad rush of news on Wednesday, much of it reported exclusively by Deadline, George Cheeks, President and Chief Executive Officer, CBS, and Chief Content Officer, News and Sports, Paramount+ outlined his vision for CBS Studios and Paramount TV Studios. The two studios will now centralize a number of back-end functions, however each is free to pursue all genres for all mediums.

Read the full story here.

Related: Layoffs At CBS Studios & Paramount TV Studios (Exclusive)

Netflix Not “Trying To Build A Theatrical Business,” Says Reed Hastings

Netflix’s founder and co-CEO Reed Hastings on Wednesday poured cold water on a potential meeting of the minds between the streamer and exhibition in the wake of the lucrative, one-week release of?Glass Onion: A Knives Out Mystery?in cinemas. The exec fully, almost happily, agreed that his company left lots of money on the table during what he called “a promotional tactic for the streaming service.” He also declared, “We are not trying to build a theatrical business.”

Read the full story here.

Related: Elon Musk is “the bravest, most creative person on the planet,” says Hastings

Ang Lee Taps Son Mason Lee To Play Icon Bruce Lee

Oscar winner Ang Lee has finalized a deal with Sony’s 3000 Pictures to direct?Bruce Lee, with the filmmaker’s son Mason Lee in the role of the iconic martial artist. The 32-year-old actor has been training for this role in Asia the past three years, all through lockdown.

Read the full story here.

MORE NEWS:

Ben Affleck & Matt Damon’s Artists Equity To Blend Quality & Commercial Fare

Nicole Norwood Named SVP Development At TriStar Television

Disneyworld Workers March For Pay Increases: “Magic Doesn’t Pay The Bills”

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Edited by Thomas Tapp, Dade Hayes, Nancy Tartaglione, and Scott Shilstone.