After info leaked a couple of months ago that Jim Gianopulos was asked to head Legendary Pictures, it seems Paramount Pictures now wants Gianopulos in charge.
The struggling movie studio has had a couple of difficult years financially, and is currently trying to rebuild its reputation and box office power.
Gianopulos, who had a stellar reputation as the head of 20th Century Fox and was largely responsible for the studio’s success during the last decade, is the prime candidate to replace former Paramount head Brad Grey.
According to the sources who released this information (though it cannot yet be officially confirmed), Michael De Luca, a former Sony executive and the producer of this year’s Oscars, has been asked to lead Paramount’s film division under Gianopulos.
Film insiders estimate that Paramount’s losses for 2016 and 2017 will probably end up totaling $500 million. Many of Paramount’s movies, including the remake of “Ben-Hur”, the “Teenage Mutant Ninja Turtles” movie, “Star Trek Beyond”, and Zoolander 2, all massively underperformed compared to studio expectations.
If Gianopulos is hired, Viacom (Paramount’s parent company) hopes he can make the same savvy business decisions he made at 20th Century Fox to secure the studio’s future.