No one said life was fair, but in the movie business, life often seems especially like a rigged poker game, especially when it comes to who gets the ax and who gets the cushy promotion. Nowhere is this more evident than at Paramount Vantage, which just laid off the majority of its 100-or-so staffers, a tacit admission that its much-ballyhooed specialty division--like most of Hollywood's specialty divisions--had been a big money loser. On the other hand, Vantage founder John Lesher, the one-time Endeavor agent whom Brad Grey hired in late 2005 to reinvent the studio's flagging Paramount Classics art-house wing, got out when the getting was good, Lesher being named president of the Paramount Film Group in January, largely as a reward for putting Grey in the Oscar game and allowing him to rub elbows with such cinematic luminaries as Paul Thomas Anderson, the Coen brothers and Martin Scorsese.
Of course you wouldn't know any of this from reading Variety's Thursday coverage of the layoffs, which bought the Paramount party line hook, line and sinker, failing to mention that Vantage had lost untold millions of dollars, not just by greenlighting art-house films with wildly inflated budgets but also by overspending on marketing the films. Variety also failed to mention the obvious--that Nick Meyer, the smart industry vet who inherited Lesher's Vantage presidency, has gone from prince to pauper, reduced to making a handful of low-budget acquisitions a year. Variety also failed to connect the dots about the news last week that Vantage dumped production and acquisition exec Amy Israel, replacing her with ex-New Line exec Guy Stodel. The man who made New Line millions resurrecting the "Texas Chainsaw Massacre" franchise, Stodel is a good hire, but he won't be making any more "Margot at the Wedding"-type critic favorites. He's there to turn Vantage into a Screen Gems-style genre division.
In fact, that's the old/new idea of the month in the movie biz: Transform your woebegone specialty division into a lean, mean macho machine, churning out low-budget comedies, thrillers and horror films. Warners just turned the same trick, axing its money-losing Warner Independent Pictures and Picturehouse divisions, replacing them with a new, streamlined New Line Cinema, whose mandate is to return to its low-budget horror and youth comedy roots.
Of course this leaves us with a tantalizing question: Why would Brad Grey take John Lesher, who failed to make any money in his two-plus-year stint at Vantage, and make him Paramount's production chief, a job that by definition (as this summer's flood of superhero movies attests) is solely about making money?