TNT/TBS CEO to Lead DreamWorks Studios: Michael Wright Finds Working With Steven Spielberg 'Magical'
An executive of Turner Broadcasting is taking a break from the television industry to make movies. Michael Wright, who is currently the head of programming for TNT, TBS and Turner Classic Movies channels, will be leaving to become the next chief executive of DreamWorks Studios.
Wright's transition to Steven Spielberg's film studio will begin in early 2015. He will be replacing CEO Stacey Snider, who is expected to go to 20th Century Fox studios next.
In his new role, Wright will report directly to Spielberg and manage creative aspects of the films the company produces. Despite little experience in this area, Wright's move shows how willing the company is to change in order to bring in bigger numbers at the box office.
DreamWorks has had several successes with critically acclaimed "The Help" and "Lincoln" in the past, But as a separate business from public company DreamWorks Animation SKG, it has also produced some letdowns like "Cowboys & Aliens" and "The Fifth Estate."
The latter was based on Wikileaks founder and fugitive Julian Assange, portrayed by Benedict Cumberbatch. It was one on the lowest-grossing movies of 2013, raking in $3.2 million domestically despite its wide release.
An entertainment industry analyst, Hal Vogel, said, "It looks like it hasn't been easy for them. ... They've been challenged by the market, and they probably haven't done as well as they would have hoped."
This is not the first time Spielberg and Wright have worked together. Turner networks have collaborated on several TV shows with Spielberg, including the wildly popular post-apocalyptic drama "Falling Skies."
"When Steven Spielberg asks, 'Would you like to come work with me?' you just say yes and then, 'Thank you,' right after that," Wright said according to the LA Times. "We have a relationship that goes back 12-13 years, and it's been pretty magical from the beginning. We have a pretty marvelous and rare creative compatibility."
Apparently the feeling is mutual between the entertainment execs.
"I have had the pleasure of working alongside Michael for many years and have come to know him as a talented executive whose creative vision, leadership and passion are a perfect fit for our company," Spielberg said in a recent statement.
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