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Tom Ortenberg is stepping down as CEO of Open Road Films, the indie distribution and production company that was recently acquired by Tang Media Partners.
His decision to depart Open Road wasn’t unexpected in light of the new ownership. Tang has tapped veteran studio executive Rob Friedman to run the newly formed Global Road Entertainment, which includes Open Road, IM Global and IM Global Television.
“Tom has been an essential part of Open Road’s growth and success over the years. His leadership and legacy has created a foundation that will allow Global Road to evolve into a preeminent global content studio. We are appreciative of all of his efforts and his support as he transitions out of the company,” Friedman said Thursday in a statement.
Added Ortenberg in a separate statement: “I could not be more proud of the company that I built along with our partners at AMC and Regal and the outstanding team that has led Open Road to some truly remarkable accomplishments. As I depart, I know that the company is in great hands with Rob Friedman and I am certain that the future will be bright for him and the entire organization.”
AMC and Regal launched Open Road in 2011. Ortenberg was their immediate pick to lead the indie film company. His biggest victory while there was when Open Road won the best picture Oscar for Spotlight (2015). Since then, the company has endured a tough run at the box office, prompting Regal and AMC to sell the venture.
Prior to Open Road, Ortenberg worked at Lionsgate.
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