BLADES ON GREY
Knives drawn at underperforming Paramount
Viacom boss Bob Bakish is weighing a change at the top of the media giant’s struggling Paramount Pictures, The Post has learned.
The chief executive is huddling with inner-circle execs at both the parent company and the 105-yearold Hollywood studio about changing leadership, several sources familiar with the situation said.
Paramount is led by Brad Grey, who has been the studio’s chief executive since 2005.
While Grey had success early on in his tenure, Paramount’s financial and box office performances in recent years have struggled. It has finished in sixth or seventh place among its studio rivals in total gross in each of the past five years.
So far this year, it’s languishing in fifth place, according to BoxOfficeMojo, despite scoring 18 Oscar nominations.
But disappointments like last year’s “Ben-Hur” and “Whiskey Tango Foxtrot” are outweighing the hits — including the colossal embarrassment in September when the studio took a $115 million impairment charge related to the expected poor performance of “Monster Trucks” — four months before the muchdelayed movie even opened.
“Monster Trucks,” with its reported $100 million-plus budget, took in $59 million globally. For the year ended Sept. 30, the studio posted a whopper loss of $445 million.
Grey is seen as a consum- mate Hollywood insider, boasting close ties to megastar Leonardo DiCaprio and good relations with Viacom poobahs Sumner Redstone and daughter Shari.
Talk of Paramount tremors comes only days after the news of Viacom general counsel Mike Fricklas’ departure.
In an interview with Bloomberg News earlier this month, Bakish said he talked to Grey about ceding some of his movie slate to Viacom’s cable networks.
Grey initially balked at the idea, but Bakish bore in.
“I have some examples,” Bakish told Grey.
“You know what, you’re right,” Grey replied.
Speaking on Viacom’s earnings call on Feb. 9, Bakish also threw some shade on Grey.
“I fundamentally believe that leadership needs to be accountable,” said Bakish. “I’m accountable to the board. I expect the people that work for me to drive the company forward. I will hold them accountable for that.”
The recently minted CEO said his management team is “now turning the page on the strategy for Paramount” beginning with being “increasingly focused on execution.”
Hollywood insiders confirmed the prospect of change is mounting. “The drumbeat on Brad is very loud,” several sources confirmed this week.
Among the top brass who could be involved as successors to Grey are Paramount Television boss Amy Powell — to run the film studio on an interim basis — as well as Viacom Chief Financial Officer Wade Davis and Viacom Chief Operating Officer Andrew Gumpert, sources said.
Grey, whose contract ends in 2020, declined to comment, as did reps for Viacom.