Paramount had signed “Saturday Night Live” creator Lorne Michaels and Goldwyn to a first-look deal in 2003 when Goldwyn stepped down from the executive post, leading to the creation of the duo’s Michaels-Goldwyn banner.
The producers have delivered a quartet of comedies — “Hot Rod,” “The Guilt Trip,” “Baby Mama” and “MacGruber” — but none of those became a hit. They also teamed on lifeguard comedy “Staten Island Summer,” which has been completed but has not been set for release.
Paramount is currently maintaining a first-look deal with Michaels through his Broadway Video banner — one of 15 such deals at the studio.
Goldwyn produced Ben Stiller’s “The Secret Life of Walter Mitty” along with his father, Samuel Goldwyn Jr., who had been trying since 1994 to remake the 1947 original film, starring Danny Kaye and produced by the iconic Samuel Goldwyn Sr. After Paramount put the “Mitty” reboot into turnaround, the Goldwyns set the movie up at Fox in 2007 and attached Stiller to direct and star in 2011.
The $90 million comedy-drama opened on Christmas and delivered moderate returns with $176 million in worldwide grosses.
Goldwyn joined Paramount in 1990 under Frank Mancuso and served under Sherry Lansing for more than a decade, overseeing “Titanic,” “Forrest Gump” and “Braveheart,” before segueing to the producing deal with Michaels.
Michaels-Goldwyn remains intact with several projects in development.