Paramount Pictures CEO*Jim Gianopulos*To Step Down, Studio To Drop Big-Budget Movies
Paramount Pictures CEO*Jim Gianopulos*is set to step down from his position. Following the underwhelming box-office yield of Transformers: The Last Knight and China’s clampdown on foreign investments, HuaHua Media left its partnership with Paramount Pictures at the end of 2017. HuaHua Media was supposed to fund 50% of the next two Transformers movies and 25% of all Paramount movies until 2020. 2017 was not a kind year for Paramount. That year, the movie production giant saw a loss of $445 million; where $100 million loss was from Transformers: The Last Knight alone. Enter Jim Gianopulos. Mr.*Gianopulos took*decisive action » Continue Reading.
