PARAMOUNT CREATES DIRECT-TO-DVD DIVISION

Paramount is setting up a new division to produce movies that will bypass theaters and go directly to DVD. The studio said the unit will be headed by Louis Feola, who previously headed a similar operation at Universal, and will focus on turning out sequels and prequels of theatrical hits. "Paramount's library of titles and current and upcoming releases, combined with its access to exceptional brands within the Viacom family, makes for an extremely deep and broad selection of properties from which to develop franchises," Feola said in a statement.

01/03/2007