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Fox Walden gets downsized

October 2, 2008 |  5:06 pm

The consolidation sweeping Hollywood smaller movie operations continues ... Fox Walden, the 2-year-old marketing partnership between 20th Century Fox and billionaire Phil Anschutz's Walden Media, is downsizing after a string of disappointing releases, including "The Seeker," "Mr. Magorium's Emporium" and "Nim's Island." As many as 12 people will lose their jobs as a result of the belt-tightening, according to a person close to the company. Fox and Walden decided that it wasn't cost effective to operate a separate marketing unit for their joint-venture films. About three Fox Walden employees will be absorbed into Walden. Jeffrey Godsick, who is head of the unit, will rejoin Fox as executive vice president of marketing and digital content and continue to oversee Fox Walden, which will now handle fewer releases a year than orginally planned.

--Claudia Eller