Cineflix Media has confirmed that Peter Smith (pictured) is stepping down as CEO of its scripted arm, Cineflix Studios.
The departure of the London-based executive follows Copper, the first scripted series from Cineflix Studios, being cancelled by BBC America and Showcase.
“Following a review of our operations, we’ve decided to scale down Cineflix Studios for the time being and Peter is therefore leaving the company,” Cineflix Media co-founder and co-CEO Glen Salzman said in a statement. “We’d like to thank him for his tremendous contribution to Cineflix. His expertise and insight have been invaluable.”
The scaling down of Cineflix Studios comes as parent Cineflix Media completes a restructuring of its scripted and unscripted divisions.
Montreal-based Cineflix will now rely on Buccaneer Media, its joint venture with veteran UK producer Tony Wood, for the bulk of its scripted programming for the UK, U.S. and Canadian markets.
Smith will work with Buccaneer on that development slate.
“It’s been exciting to make progress in such a short space of time while I’ve been at Cineflix. However, given this change in strategic priorities, I am leaving the company to pursue other opportunities,” Smith said in his own statement.
As Buccaneer ramps up, including pitching to North American broadcasters, Cineflix Studios will simultaneously work on a number of projects it already has in development, the company said.