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Radius heads Tom Quinn and Jason Janego are exiting their top posts at the boutique label of The Weinstein Company, The Hollywood Reporter has confirmed.
Quinn and Janego, who worked together at Magnolia before co-founding Radius, are leaving to start a new company that will utliize a traditional theatrical release model, unlike the day-and-date model of Radius, according to a TWC source, who said it is still being worked out when the pair will leave.
TWC is in discussions to possibly invest in the new enterprise, the source said. Radius will continue operating as usual and is not being folded. TWC is actively looking for a new executive or executive to head the label.
The next Radius release is When Animals Dream on Aug. 28, followed on Sept. 4 by Before We Go, which marks Chris Evans’ directorial debut.
The pair had ushered in a string of documentary hits at the label and were behind the past two best documentary Oscar winners: 20 Feet From Stardom and Citizenfour.??
The news comes one week after David Glasser announced that he was stepping down as the COO of TWC. Over the past 10 months, TWC has also lost marketing president Stephen Bruno, who exited for a post at Netflix as well as president of production and acquisitions Dylan Sellers and president of television Meryl Poster. All three of those positions remain open.
Glasser remains in his post until November as a replacement is sought.
During their four-year tenure, Quinn and Janego have been innovators in the day-and-date space, with Radius becoming the first to report VOD numbers. The company released Snowpiercer last year on VOD just two weeks after its theatrical release, and the film became a VOD hit.
Variety first reported Quinn and Janego’s exit.
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