A Legendary Game of Musical Chairs

Thomas Tull’s ouster by Wanda could trigger a domino effect of executive moves across Hollywood as several studios may be impacted, and one person — ousted Fox film chief Jim Gianopulos — sits at the center of the speculation

- Kim Masters

It’s hard to read the tea leaves when the brew is swirling in the cup. Such is the current state of instability in Hollywood, leading to speculation among insiders about who will move where. With a caveat that there is a lot of informed guesswork going on, it’s time to handicap the game of mogul musical chairs.

The person most interestingly situated might be former 20th Century Fox film studio chairman Jim Gianopulos. As THR reported Jan. 19, China’s Dalian Wanda Group has been courting him to run Legendary Entertainment in the wake of CEO Thomas Tull’s ouster, with a promise to build a full-service studio — eventually. The question is, does Gianopulos end up taking the Legendary job or does he hold out for other possible options, say at Sony Pictures or Warner Bros., that might be more appealing if they materialize?

While Gianopulos, 65, naturally declined to comment, many in Hollywood think his eyes are wide open to the unknowns involved in taking the helm at Legendary, including questions about Wanda’s ability to build the company — for which it paid a reported $3.5 billion in early 2016 — into a full-fledged studio almost from the ground up.

One prominent producer says there is speculation in China’s business community that Wanda, which previously was thwarted in plans to use Legendary as bait for a public offering there, may be looking to try again, perhaps this time in Hong Kong, where rules are less restrictive but the potential rewards are not as rich. (So far, Wanda has sent no signal of such a plan.)