Does move leave Par chief in Grey area?
Freston's replacement praises chairman
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Freston had put several key pieces of the Par puzzle in place over the past 18 months as part of the studio's reinvention, including the appointment of chairman Brad Grey. And because of that, insiders immediately began to question if more turmoil is on the horizon. The gossip is now focusing on Grey.
"After today, there is going to be the inevitable assumption that because (Brad Grey) is Freston's guy, he is not the permanent head of Paramount Pictures," said one filmmaker with ties to the studio. "And that assumption will be very widespread and logical."
However, Freston's replacement, chief exec Philippe Dauman -- a familiar name to many longtime Par employees because of his tenure with Viacom -- came to Grey's defense and praised the executive for the many changes he's overseen during his 18 months as chairman, including the DreamWorks acquisition.
"I am very supportive of Brad Grey. I've spent a relatively large amount of time talking to him. We've had great conversations," Dauman told Daily Variety. "I think he is on his way to a nice turnaround at Paramount." Dauman added that he is not going to micromanage Par's film activities, leaving Grey to continue to oversee the studio. "He's going to make sure we have the right slate of movies going forward."
Some say the DreamWorks deal was a saving grace for Paramount this year as the studio has yet to show blockbuster success at the box office with its own product.
"There has been a lot of change," one insider said. "It's not an unprofitable year, but who's kidding whom? -- it's been made up largely of product from another time and from other sources."
Viacom did post a profit surge of 23% when numbers came out last month. Revenue jumped 24% to 2.85 billion, with about $345 million of that flowing from distribution of DreamWorks Animation and live-action fare.
Dauman spent part of his Monday calling many Par execs including division heads who now report to him, among them Grey.
Meanwhile, on the Par lot Monday, senior executives were busy working the phones, calling producers, filmmakers and other execs hoping to quash any speculation or uncertainty over implications Freston's departure has for future changes at the studio.
"Obviously, this is unsettling, but all we can do is put our heads down and try to make some more movies," said one executive.
(Jill Goldsmith in New York contributed to this report.)
