UPDATED with more details: Financier and producer Participant is shuttering after 20 years. Founder Jeff Skoll alerted staff at 10:30 a.m.
PT on Tuesday, Deadline has confirmed. Sources say Skoll did an audit of the company and wanted to pivot from entertainment.
We understand that most of the 100-person staff is being let go except for core employees who will settle out remaining productions and oversee outstanding commitments to the catalog.
Participant projects will still be released this year including Blknws, the adaptation of filmmaker, music video director, and video artist Kahlil Joseph’s video exhibition that Joseph is directing.
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