Responding to rapidly increasing production costs and the decline in advertising dollars, Sony Pictures Entertainment is expected to slash its TV production unit and cease developing new programs, the Los Angeles Times reported today.
The Sony television division produces, with CBS, The King of Queens and Family Law; it also produces Fox’s new serial Pasadena, an upcoming comedy, The Tick, and WB’s Dawson’s Creek. Sony’s action is similar to Universal’s, when it plopped its TV operations into the lap of can’t get the same economics out of production as a studio like Disney or 20th Century Fox.”
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