Amid the finalization of Disney’s acquisition of Fox, Fox 2000, headed by Elizabeth Gabler, will be shut down, according to The Hollywood Reporter. The label, which usually dealt with mid-budget films, was anticipated to have a place at Disney, however this is not what resulted. Disney has decided to still keep 20th Century Fox and Fox Searchlight.
Fox 2000 was created in 1999, and was in charge of movies such as Walk the Line, The Devil Wears Prada, Hidden Figures, and Love, Simon.
The movies that have already undergone production or are currently in the production process are still expecting a release under Disney. This includes The Art of Racing in the Rain, starring Kevin Costner and thriller The Woman in the Window, starring Amy Adams and Gary Oldman. It is uncertain what will happen to Gabler and her team specifically.
Disney is aiming to cut yearly costs by 2021. This goal is suspected to come in the form of layoffs, which became a realization Thursday. Top leaders in distribution and marketing are currently being affected the most. The layoffs may be severe with this specific merger due to the overlap in occupational duties between both of the companies. Analysts estimate that 4,000 jobs could be lost after the reorganization.
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