The new agreement comes just ahead of the expected merger between Paramount parent company Viacom and CBS. The long-awaited deal to recombine the two media and entertainment companies could be announced as early as Monday.
Viacom’s decision to extend Gianopulos is a show of the company’s confidence in the CEO and the direction he’s taken the studio since taking over from former Paramount chief Brad Grey in 2017.
The studio also extended production president Elizabeth Raposo.
Also Read: How 'Crawl' Fits into Paramount's Plan to Return Studio to 'Iconic Status'
Gianopulos took the reins at Paramount during one of the studio’s worst box office years in recent memory. In 2017, Paramount grossed just $534.3 million, a far cry from six years earlier when the studio led all its rivals