Paramount is in big trouble
When Brian Robbins, CEO of Paramount Studios, addressed the company in a town hall meeting on Tuesday, he was not in celebratory mood. Amid the grim and downbeat words he had to utter — “We know what a difficult and disruptive period it has been. And while we cannot say that the noise will disappear, we are here today to lay out a go-forward plan that can set us up for success no matter what path the company chooses to go down” — the news that the studio’s profits have declined by 61 precent over the past five years was described by Showtime CEO Chris McCarthy as “simply unacceptable.” Paramount is in big trouble. The only questions now are why, and what can be done to ameliorate the situation?
