Kimmel Entertainment scales back
EmptySidney Kimmel Entertainment is restructuring its operations, halving the number of features it produces annually.
SKE will reduce its projected lineup from five films a year to about two or three, in line with the output of several other independent production companies, and the company is not expected to extend its distribution deal with MGM, which expires at the end of the year. Kimmel is restructuring bank terms with SKE financier JPMorgan Chase for a deal more in line with the company's new mandate.
SKE has seen disappointing returns on recent releases including "Lars and the Real Girl" and "The Kite Runner." But contrary to rumors that have swirled around the company in recent weeks, an SKE spokesperson said it is not going out of business and will not be making any layoffs.
Gregg Goldstein reported from New York; Carly Mayberry reported from Los Angeles.