The Fox movie label behind Life of Pi and The Fault in Our Stars is to be closed by Disney, according to Variety.
The closure will not affect projects already in the works at Fox 2000, with plans to complete all movies currently in production, but Disney insiders tell Variety that with 20th Century Fox covering blockbusters and Fox Searchlight producing independent films, Fox 2000 has no natural position within the newly merged mega company.
The shock news follows earlier assertions from Disney that Fox 2000 head Elizabeth Gabler would be kept on following the acquisition.
No staff from Fox 2000, including Elizabeth,have been laid off, but they were made aware of the decision to press stop on new projects last Thursday.
Job losses are expected to reach into the thousands following Disney’s $71.3 billion purchase of most of 21st Century Fox last week, though the entertainment giant made it clear there would be staff changes to remove doubling up on roles between the two corporations.
Among the high-profile layoffs so far are Twentieth Century Fox Film’s president of Consumer Products and Innovation Kim Fielding, and Twentieth Television president Greg Meidel.