PARAMOUNT PICTURES - PINK SLIPS FALL ON PARAMOUNT'S PEAK

In one fell swoop, Paramount's domestic distribution unit was virtually eliminated Thursday, with all but 20 of its 129 employees handed pink slips. They will likely be replaced by employees of DreamWorks distribution unit as part of the merger of the two studios, although DreamWorks is believed to have a far smaller distribution workforce. The combined group must be consolidated in time for the planned March 10th release of Paramount's Failure to Launch, starring Matthew McConaughey and Sarah Jessica Parker, which had originally been scheduled to be released today but was presumably delayed until after the shake-up.

10/02/2006