Sony Pictures Entertainment Unveils Realignment of Columbia TriStar Domestic Television Operations.
CULVER CITY, Calif., Oct. 25 /PRNewswire/ --
In a move geared to meet the targeted programming needs of the upcoming broadband decade, Sony Pictures Entertainment (SPE) is consolidating its two domestic television operations into a new division, Columbia TriStar Domestic Television (CTDT), it was announced today by Mel Harris, President and Chief Operating Officer of SPE. The new operation will be responsible for all domestic television programming with Steve Mosko as President.
"Television production remains a key part of our business," asserted Mel Harris, "but the traditional network business model doesn't make economic sense anymore for independent suppliers. Steve's had great success running our syndication and cable division, proving that you can provide programming that is both popular and profitable without incurring enormous financial risk. We'll be following the same targeted approach for the broadcast networks."
Columbia TriStar Network Television (CTNT) will be downsized and ultimately will be absorbed into CTDT. The consolidation will result in the phasing out of roughly 20% of the workforce of the combined domestic operations. The seven primetime network series currently being produced will be fully supported through their runs.
"In a world where the distinction between cable and broadcast networks has been blurred, where 'Ripley's Believe It or Not ' can launch and be successful on cable as well as air on The WB, we're offering one-stop shopping to the full range of domestic buyers," explained Mosko, who has been President, Columbia TriStar Television Distribution since July 2000. "The television business is in transition; the future is about being targeted in your strategy and responsive to a wide variety of buyers' needs."
Columbia TriStar Domestic Television will remain a premier producer and distributor for the broadcast syndication and cable markets while pursuing selected network programming opportunities in an innovative and targeted manner. CTDT will oversee the management of current non-primetime operations, including daytime soap operas and the game shows "Wheel of Fortune" and "Jeopardy!."
SPE's other television unit, Columbia TriStar International Television (CTIT), under the leadership of Michael Grindon, will continue its role as a leading television producer and distributor to more than 65 international markets worldwide.
Sony Pictures Entertainment is a division of Sony Corporation of America (SCA), a subsidiary of Tokyo-based Sony Corporation.
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|Date:||Oct 25, 2001|
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