Paramount is reorganizing its home entertainment and licensing divisions and placing them under one roof as part of a mjaor studio restructuring that extends to its global theatrical operation.
Paramount has created a new division called Home Media Distribution, which will oversee its home entertainment, digital licensing and television licensing activities worldwide.
As things shift away from physical discs to become more digital, more and more media companies are breaking down divisions that had previously operated independently and regrouping them.
Paramount's parent company Viacom has worked aggressively to reformat its corporate structure in the wake of these distribution changes. Just weeks ago, Viacom reorganized its licensing and merchandising division, with longtime consumer product chief Leigh Anne Brodsky exiting the company.
Dennis Maguire (pictured left), formerly president, worldwide home entertainment, has been promoted to president, worldwide home media distribution, reporting to Vice Chairman Rob Moore.
Thomas Lesinski, president of Paramount Digital Entertainment, is out, with that division now folded into the Home Media division.
Also exiting as part of the shakeup is Jim Tharp, Paramount's president of Domestic Theatrical Distribution.
Tharp will retire and Don Harris, who has served as executive vice president of Sales, is being promoted to take over.
"Our hope is that this new configuration will allow us to be more flexible and to best capitalize on all opportunities across the breadth of the studio," Paramount Chairman Brad Grey wrote in an internal memo announcing the changes.
In addition, Paramount will centralize global theatrical management oversight in Los Angeles. Marketing and sales functions currently performed locally in territories worldwide will remain unchanged, the studio said.
Josh Greenstein and Megan Colligan will be promoted. Greenstein, who has served as co-president of Domestic Marketing, has been named chief marketing officer for the studio, overseeing all marketing efforts through all distribution channels for the studio worldwide.
Colligan, who also served as co-president of Domestic Marketing, is also expanding her role and has been promoted to President, Domestic Marketing & Distribution. She will now oversee all domestic theatrical distribution and marketing for the studio.
Greenstein and Colligan will continue to report to Moore. Colligan will also report to Greenstein on marketing. Hal Richardson, currently president, Worldwide Television Distribution, will take on the role of president, Home Media Distribution, reporting to Maguire.
Amy Powell, Executive Vice President, Interactive Entertainment, will add the creation of content for digital and online games to her current responsibilities.
LeeAnne Stables, executive vice president, Worldwide Marketing Partnerships, will assume responsibility for licensing of traditional video games. Both Powell and Stables will continue to report to Colligan.
Here's the internal memo:
Memo from Brad Grey
I am writing to let you know about a number of organizational changes and promotions that we are making at the studio. We are strategically realigning several of our divisions in an effort to be forward thinking about our business at a time when the global entertainment market is evolving.
Our hope is that these moves will allow us to best build upon the successes our studio has enjoyed in recent years as well as enable us to fully capitalize on future growth opportunities.
Today we are announcing the creation of a new division called Home Media Distribution, a single organization based here on the lot, that will oversee our home entertainment, digital licensing and television licensing activities worldwide. Dennis Maguire is being promoted to President, Worldwide Home Media Distribution, and will report to Vice Chairman Rob Moore. In addition, in light of international’s growing significance to our studio, we are centralizing global theatrical management oversight in Los Angeles so as to be closer to the strategic decision making for this part of our business. Marketing and sales functions currently performed locally in territories worldwide will remain unchanged.
We are also making a number of other key promotions and staff changes as part of this realignment.
· Josh Greenstein has been named Chief Marketing Officer for the studio, overseeing all marketing efforts through all distribution channels for the studio worldwide.
· Megan Colligan is also expanding her role and has been promoted to President, Domestic Marketing & Distribution. She will now oversee all domestic theatrical distribution and marketing for the studio. Josh and Megan will continue to report to Rob; and Megan will also report to Josh on marketing.
· Jim Tharp, President, Domestic Theatrical Distribution, will retire as of June 2012 and will assist Rob in the transition to the new team.
· Don Harris, who has served as Executive Vice President of Sales, is being promoted to President, Domestic Theatrical Distribution, and will assume Jim’s day-to-day responsibilities reporting to Megan.
· Hal Richardson will take on the role of President, Home Media Distribution, reporting to Dennis.
· Paramount Digital Entertainment (PDE) will now be folded into other divisions of the studio. Amy Powell, Executive Vice President, Interactive Entertainment, will add the creation of content for digital and online games to her current responsibilities. LeeAnne Stables, Executive Vice President, Worldwide Marketing Partnerships, will assume responsibility for licensing of traditional video games. Both Amy and LeeAnne will continue to report to Megan. Tom Lesinksi, President of PDE, will be departing the studio.
As you can see from what I have outlined above, we have worked to truly align our business for the future. Our hope is that this new configuration will allow us to be more flexible and to best capitalize on all opportunities across the breadth of the studio.
Creating this new integrated structure is only possible because of the wealth of talent we have at Paramount. Josh, Megan, Don, Dennis and Hal are widely and deservedly recognized as leaders and innovators and we are fortunate to have them on our team. I want to thank them for their great work and congratulate them on their new positions. Rob, Frederick and I are looking forward to working closely with them and their teams on finalizing and implementing our new organizational structures over the next several weeks.
Jim’s retirement next summer marks the end of an era. I want to personally thank him for his many years of service, his numerous accomplishments, and for being a real friend to all of us at Paramount Pictures. He has truly set the gold standard for excellence in the distribution field and we are grateful for his active and ongoing guidance in the transition to our new team.
We also appreciate Tom’s many contributions to Paramount’s success. He was instrumental in helping us break new ground in the digital arena and we wish him great success in the future.
I want to thank our executive team led by Rob, COO Frederick Huntsberry and Motion Picture Group President Adam Goodman. Rob was especially central in the creation of this new structure.
I want to close by saying thank you to all of you for your great work at this studio. I am very proud and grateful for what you do for Paramount each and every day.