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Paramount is ready to make a comeback

Apr 27,2018
LAS VEGAS - Paramount Pictures is ready for its comeback story.

On Wednesday at the CinemaCon convention in Las Vegas, studio chairman and CEO Jim Gianopulos announced a sequel to the breakthrough thriller “A Quiet Place,” two new Star Trek movies and trotted out its biggest star, Tom Cruise, to dazzle the audience of theater owners and exhibitors with stories of his death-defying stunts in “Mission: Impossible ? Fallout.”

“It’s no secret we’ve had some difficult years at the box office,” said Gianopulos in his first presentation as the studio chair to the CinemaCon attendees. For the past few years, the studio has trailed behind the other major Hollywood studios in box office returns.

He said the studio has made significant changes in leadership and production and is ready to get back to a narrative of success and that “A Quiet Place” is “the first of what we hope will be many future hits.”

The John Krasinski-directed thriller has earned over $135 million from North American theaters in just three weeks. It cost only $17 million to produce.

The studio teased a lineup heavy with familiar brands, including the Transformers spinoff “Bumblebee,” with Hailee Steinfeld, a new “Cloverfield” sequel, several “Star Trek” movies, their “Terminator” project, with Arnold Schwarzenegger and Linda Hamilton, a Sonic the Hedgehog movie, a “World War Z” sequel, a Dungeons and Dragons movie and a new “Spongebob Squarepants.” AP