Paramount eyes Famous fortune

August 20, 2008 More than a year after its formation, Paramount Home Entertainment's ambitious direct-to-video initiative has a branded name, concrete production and release plans and a series of senior management appointments. The unit, under the direction of former Universal Studios Home Entertainment president Louis Feola, will operate as Paramount Famous Prods., a nod to its intent to exploit its library of theatrical features with direct-to-video sequels, prequels and spinoffs. Ultimate plans call for the division to release five to six films a year, beginning in 2010, most of them based on theatrical pictures in the libraries of Paramount, Paramount Vantage, DreamWorks, MTV Films and Nickelodeon Movies.

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