Dennis Maguire Leaving Paramount Home Media Distribution13 Mar, 2015 By: Erik Gruenwedel
Dennis Maguire, worldwide president of Paramount Home Media Distribution, is leaving the studio he’s headed since 2009 as part of ongoing internal restructuring mandated by parent Viacom.
Maguire’s position, among about 40 positions affected by studio layoffs, will be filled in the coming weeks.
Paramount Pictures reported a 6% increase in fourth-quarter revenue to $720 million from revenue of $681 million during the previous-year period.
The revenue increase was driven in part by Paramount Home Media Distribution releases Teenage Mutant Ninja Turtles, Transformers: Age of Extinction and Hercules — the latter with Dwayne Johnson. Indeed, the unit posted a 16% year-over-year increase in revenue.
"We expect growth and profits to be weighted to the back half of the fiscal year as the studio benefits from its summer theatrical releases as well as the availability of titles in the pay-TV and home entertainment marketplaces," COO Thomas Dooley said on a fiscal call.