Paramount Pictures is shuttering its New York film distribution office.
News of the closure — which was leaked Monday on several websites but not officially announced by the studio — follows the merging of Paramount's home video, licensing and digital divisions last week. A total of five executive positions are set to be axed, while three jobs will be moved to Los Angeles. The shuttering will come on the heels of a major restructuring of Paramount's home entertainment and licensing operations, which was announced last week.
With the closure, Paramount will be the only major studio without a distribution operation in New York City.
