Grey: Man of action

Los Angeles, Jan. 3 (Reuters): Hollywood dealmaker Brad Grey, an executive producer of the hit television show ?The Sopranos? and manager of Brad Pitt, is in line to take over Paramount Pictures, a once-great studio that has fallen on tough times, news reports said on Sunday.

Grey, 47, has emerged as the leading candidate to succeed Sherry Lansing as head of the Viacom Inc-owned studio, whose current films include ?Lemony Snicket's A Series of Unfortunate Events? and ?The SpongeBob SquarePants Movie?.

While there is no guarantee that Grey will move to Paramount since the complex talks are at a delicate stage, a deal could be announced as early as this week, the reports said. Grey, the chairman and owner of talent management firm Brillstein-Grey Entertainment, must first cut his numerous ties with clients and productions.

News of the talks, which was broken over the weekend by the Los Angeles Times and Wall Street Journal, stunned many in Hollywood since Grey has limited moviemaking experience. Among his credits is the bomb ?What Planet Are You From? starring estranged former client Garry Shandling.

?No studio in memory has ever brought in a head of production so lacking in formal filmmaking credentials or corporate experience,? Variety editor-in-chief Peter Bart, himself a former Paramount executive, wrote in his trade paper's Monday edition.

Still, Bart noted that Grey -? whom he estimated was worth 'well north of $200 million' ? has prospered as a loner.

Honesty and candour

?Given his calm, thoughtful demeanor and reputation for honesty and candor, Grey has abundant allies in the entertainment community,' Bart said. Representatives of both Paramount and Viacom declined to comment on Sunday. Grey was out of town and unavailable for comment.

Paramount, famed for such movies as ?The Godfather? films, ?Chinatown?, ?Titanic?, and the ?Mission: Impossible? series, has suffered through a bad patch. Its recent turkeys include the ?Tomb Raider? movies, the ?Alfie? remake and the ambitious special effects saga ?Sky Captain and the World of Tomorrow?.

Lansing, who has served as chairman of the Paramount Motion Picture Group since 1992, announced in November that she planned to retire in 2005. She denied there was any connection to the box office drought, but her announcement came shortly after a shake-up in the Viacom ranks.

Viacom Chairman and CEO Sumner Redstone in June promoted MTV Networks chief Tom Freston to co-chief operating and co-president (along with CBS chief Leslie Moonves), with a mandate to revive the studio. In a showbiz rarity, Paramount has a reputation for being tightfisted, and top filmmakers have accordingly avoided the historic Hollywood lot when seeking backers for their projects. In looking to hire Grey, Freston is signaling the dawn of a new era, industry observers said.

A native New Yorker, Grey began his career running errands for a concert promotion company owned by Miramax Films co-founder Harvey Weinstein. Hired by veteran manager Bernie Brillstein in the mid-1980s, Grey was made a full partner in 1991. Four years later, Brillstein stepped back from daily management and sold his stake to Grey.