Weeks after my exclusive reporting about Paramount’s behind-the-scenes executive suite shake-up (Paramount Now All Shook Up and Paramount To Promote John Lesher & Rob Moore), the studio has finally issued a formal news release:

PARAMOUNT REALIGNS TOP MANAGEMENT

For Immediate Release – January 11, 2008 – Paramount Pictures today announced several promotions and changes in responsibilities among its top executives.

Rob Moore, who had been president of worldwide marketing, distribution and home entertainment, has been named vice chairman of Paramount Pictures, underscoring the success he has had in managing the business, marketing and distribution activities of Paramount over the last two years.

John Lesher, who had been president of Paramount Vantage, has been promoted to president of Paramount Film Group, where he will have oversight responsibilities for creative affairs for Paramount Films, MTV Films, Nickelodeon Movies and Vantage.  He will also share responsibilities for theatrical business affairs with Mr. Moore for the above entities.

Messrs. Moore and Lesher will continue to report directly to Paramount Pictures Corporation Chairman and CEO Brad Grey.

Brad Weston, who will report to Mr. Lesher, continues as Paramount Films’ president of production and expands his portfolio in his new capacity as deputy to Lesher to work with his team on MTV Films and Nickelodeon Movies, which are now under the Paramount Films umbrella.   Scott Aversano, who had been president of the MTV Films and Nickelodeon Movies, will transition to a production deal.

Messrs. Lesher and Weston have had a major impact in reinforcing Paramount’s position as a creative force.  Since joining Paramount, Mr. Lesher has reinvigorated the studio’s specialty division, for which he was responsible for creative, marketing, distribution and business affairs. During his tenure at Vantage, Mr. Lesher produced such critically acclaimed films as “An Inconvenient Truth,” “Babel,” “There Will Be Blood,” “Into The Wild,” and “No Country for Old Men.”  Mr. Weston, who has day-to-day responsibility for shepherding production and development at Paramount Pictures, has helped create a promising upcoming slate for the studio, including “Cloverfield,” “Love Guru,” and the latest installment in the Star Trek franchise.

“Along with our COO Frederick Huntsberry, Rob, John and Brad constitute the senior management team of Paramount Pictures,” said Mr. Grey. “These changes are meant to better reflect their increased roles within the company, recognize their complementary talents, and build upon each of their contributions to the studio.”

Nick Meyer has been upped to president of Paramount Vantage. Prior to joining the division in 2006 as co-president, he served as president of Lionsgate International.

Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NYSE: VIA, VIA.B), a leading content company with prominent and respected film, television and digital entertainment brands.  The company’s labels include Paramount Pictures, Paramount Vantage, Paramount Classics, MTV Films, Nickelodeon Movies and DreamWorks Studios.  PPC operations also include Paramount Pictures Digital Entertainment, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., Paramount Studios, and Worldwide Television Distribution.