What is the story about?
What's Happening?
All3Media has decided to close Seven Stories, a production company known for its work on the adaptation of Jules Verne's 'Twenty Thousand Leagues Under the Seas' titled 'Nautilus'. This decision follows a strategic review of Seven Stories, which has been part of All3Media for a decade. The closure will see the departure of founders Anand Tucker and Sharon Maguire, along with Creative Director Colleen Woodcock. These executives will take any development projects with them and may potentially revive the Seven Stories name independently. Seven Stories' intellectual properties, including 'Nautilus', the Ian McKellen-starring movie 'The Critic', and the Netflix drama 'Selection Day', will remain with All3Media.
Why It's Important?
The shuttering of Seven Stories marks a significant shift in All3Media's strategic direction, impacting the landscape of television and film production. The decision reflects broader industry trends where companies are reassessing their portfolios in response to changing market dynamics and streaming service strategies. The closure could affect the availability and continuation of popular content like 'Nautilus', which had already faced challenges in its distribution journey. This move may also influence the careers of the departing executives and the future of their projects, potentially leading to new independent ventures.
What's Next?
With the closure of Seven Stories, the departing executives may seek to establish new production entities or partnerships, potentially reviving the Seven Stories brand independently. All3Media will continue to manage the existing intellectual properties, which could lead to new collaborations or adaptations. The industry will be watching closely to see how these changes affect the availability and development of content associated with Seven Stories.
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