Fox to absorb Walden marketing venture (VAR, DHD, LAT)

By Nancy Tartaglione-Vialatte

Consolidation continues in Hollywood. Twentieth Century Fox is to absorb the Fox Walden marketing venture just two years after its launch. The restructuring will see about a dozen Fox Walden employees laid off while Fox Walden�s marketing president Jeffrey Godsick will move to 20th as exec VP of marketing and digital content and will also retain his Fox Walden title.

The move follows the studio�s similar decision to close Fox Atomic�s marketing operation last January.

Fox Walden, a partnership between 20th Century Fox and billionaire Phil Anschutz's Walden Media, was created in August 2006 to market family films.

Ultimately, however, there were not enough to merit a stand-alone entity. Only three movies have been released under Walden: "Nim�s Island," "Mr. Magorium�s Wonder Emporium" and "The Seeker."

Walden and Fox will each continue to develop family films separately and will continue to partner as co-financiers on select projects, say today�s reports. Among upcoming projects they will team for are "Tooth Fairy" and "Ramona."

Godsick will continue to oversee the marketing of Fox Walden films with the help of existing Fox marketing personnel and resources.

In January, Anschutz Film Group shut down the majority of Walden Media and Bristol Bay�s creative departments.

In a statement, David Weil, CEO of Anschutz said: �Fox Walden has been a tremendous asset for our company and Fox has been an outstanding partner. Moving marketing functions to inside the main Fox marketing machine � the best in the business � makes both creative and financial sense. We�re very happy that it will continue to exist within Fox under Jeffrey�s leadership and we intend to continue to provide 3-5 films a year.�