ViacomCBS breaks up Paramount’s film and TV units

Visitors are silhouetted at the Paramount Pictures stand during the annual MIPCOM television programme market in Cannes
FILE PHOTO: Visitors are silhouetted at the Paramount Pictures stand during the annual MIPCOM television programme market in Cannes, France, October 15, 2018. REUTERS/Eric Gaillard

September 13, 2021

(Reuters) – ViacomCBS Inc said on Monday it is restructuring the operations of its Paramount Pictures’ movie and television production unit, in a broader shakeup aimed at ramping up content on its cable and streaming services.

The company said Paramount’s television arm will be run as a separate entity under the leadership of David Nevins, chief executive officer of Showtime Networks.

With more people flocking to streaming services for entertainment, the move will allow the company to focus on its rebranded Paramount+ streaming platform as well as its cable networks Showtime and PlutoTV.

Brian Robbins, the current President of Nickelodeon, will take on the additional role of heading Paramount’s movie studio business, taking over from Jim Gianopulos, ViacomCBS said.

Gianopulos led the movie studio during a period when it produced films including “A Quiet Place”, “Rocketman” and “Mission: Impossible – Fallout”.

(Reporting by Tiyashi Datta and Uday Sampath in Bengaluru; Editing by Shailesh Kuber)