ViacomCBS to revamp Paramount Pictures, splits TV and Films units
Category: #business  By Pranali Mehta  Date: 2021-09-13
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ViacomCBS to revamp Paramount Pictures, splits TV and Films units

Multinational mass media company ViacomCBS Inc. is reportedly planning to restructure the operations of Paramount Pictures movie and television production subsidiary as a part of its broader major management change.

Under the new structure, Paramount Television will concentrate on producing content for its sister cable and streaming networks. It currently produces content for Netflix Inc. and Apple TV+ platforms.

Post the restructuring, Paramount Television will have the movie and television divisions governed as separate entities. Nickelodeon chief Brian Robbins will handle films, while David Nevins, a long-time ViacomCBS television executive, will supervise the Paramount television unit.

The film industry is focusing on recovering from the global pandemic, which had forced theaters to shut down for months, leaving fans reluctant to gather in tight spaces. This compelled various movie studios to release firms online at the same time they open in theatres.

In another major news, joint venture operation between ViacomCBS and TV18, Viacom18 Media Pvt. Ltd. recently won the rights for broadcasting the FIFA World Cup Qatar 2022 for Rs. approx. USD 60 million.

Previously, Star Sports Network owned the FIFA World Cup broadcasting rights, worth USD 12 million, until the 2010 World Cup, post which Sony Sports Network had secured the rights for the next two World Cups, 2014 in Brazil and 2018 in Russia.

The broadcasting rights to the Spanish football league La Liga, the French football league Ligue 1, the Abu Dhabi T10 league, the Italian football league Serie A, and the FIFA World Cup Qatar 2022 have now been acquired by Viacom 18. The matches are live-streamed on VOOT Select and broadcasted live on MTV networks.

As per credible sources, the FIFA World Cup Qatar 2022 will be hosted in the winter. It will begin on November 21, 2022, and conclude on December 18, 2022. As there is not a huge time difference between Qatar and India, Viacom18 is likely to get a large number of viewers from the world's biggest football tournament.

Source Credit –

https://telecom.economictimes.indiatimes.com/news/viacomcbs-to-restructure-paramount-pictures-wsj/86156341

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Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

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