Peter Smith Stepping Down as CEO of Cineflix Media's Scripted Division (Exclusive)
TORONTO – Cineflix Studios CEO Peter Smith is stepping down as head of the Canadian factual TV producer’s scripted division amid restructuring.
Parent company Cineflix Media on Friday confirmed the departure of the former NBCU International president, who boarded the Canadian-based producer in mid-2012 to grow its scripted division in the U.S., U.K. and Canada after its first drama, Copper, debuted on BBC America.
The period drama has since been canceled after first-season cost-overruns, leaving a restructuring Cineflix Media to now rely on its expanding joint venture with Tony Wood's Buccaneer Media for most of its scripted programming for the U.K., U.S. and Canadian markets.
"We are proud of Cineflix Studios’ achievements since it was set up, and Peter has played a vital role in helping us get this far, including the launch of our first joint venture, Buccaneer Media," Cineflix Media co-founder and co-CEO Glen Salzman said on Friday in a statement.
Buccaneer Media has a slew of scripted and unscripted projects in the pipeline with broadcasters in the U.K., Canada and the U.S., while Cineflix Studios has its own projects in development.
While leaving Cineflix Studios, Smith is in discussions with Wood at Buccaneer Media to work together on its expanding development slate, while pursuing other opportunities.
"It's been exciting to make progress in such a short space of time while I’ve been at Cineflix. However, given this change in strategic priorities, I am leaving the company to pursue other opportunities," Smith said in his own statement.
"I’m pleased with what we accomplished at Cineflix Studios during the time I was there -- in particular the creation of Buccaneer Media with Tony Wood, which has some really exciting projects in development," he added.