Brad Grey, Former Paramount Pictures CEO, Dead At 59

UPDATE: Following the news of Grey’s death, a number of statements were released from Viacom and Paramount.

Statement from Sumner and Shari Redstone:

We are deeply saddened by the sudden passing of our friend, Brad Grey, whose tremendous kindness and talent inspired so many of us in the entertainment industry. His vision and leadership at Paramount Pictures brought iconic films and programs to audiences around the world. We are so grateful for Brad’s friendship and we extend our deepest condolences to his wife, Cassandra, and their family.

Statement from Bob Bakish, CEO and President, Viacom, Inc:

Brad Grey was an extraordinary talent with a passion and gift for storytelling that won’t be forgotten. He has left an incredible legacy at Paramount and across the entire entertainment industry, from the beloved hit franchises he developed for both film and television, to the countless individuals he mentored and supported throughout his career.  All of us at Viacom and Paramount mourn his passing, and our thoughts are with his family at this difficult time.

Statement from Jim Gianopulos, Chairman and CEO, Paramount Pictures:

All of us at Paramount are deeply saddened by the news of Brad Grey’s passing. He was at the helm of the studio for over a decade and was responsible for so many of the studio’s most beloved films. We extend our deepest sympathies to Cassandra, Max, Sam, Emily and Jules Grey, along with Brad’s mother, brother and sister.

I was proud to call Brad a friend, and one I greatly admired. He will be missed by us all, and left his mark on our industry and in our hearts.

EARLIER: Brad Grey, a former talent manager and producer of some of your favorite movies, died following a battle with cancer Sunday night in his home in Holmby Hills, California, according to Deadline . He was 59.

Grey spent 12 years as chairman/CEO of Paramount Pictures before reportedly being forced out  this year due to “five years of dismal results at the film studio.” His death comes only months after leaving the company  and is a surprise to many.

The CEO’s successes at Paramount included strong showings from the “Transformers,” “Mission: Impossible” and “Paranormal Activity” franchises, as well as films "10 Cloverfield Lane," "The Big Short," "Selma," "Interstellar," "The Wolf of Wall Street" and "There Will Be Blood." However, some undeniable flops led to big losses, such as “Ben-Hur,” “Zoolander 2” and the bad idea on wheels, “Monster Trucks .”

Grey previously founded Brillstein-Grey Entertainment  with Bernie Brillstein, where he became executive producer of shows like “The Sopranos” and “Real Time with Bill Maher.”

He also co-founded Plan B Entertainment with Brad Pitt and Jennifer Aniston. Grey reportedly left Plan B before production began on “The Departed,” which would take home the Oscar for Best Picture in 2007. The company was also behind “Troy” while he was still there.

Plan B teamed up with Paramount for a while, reportedly having a first look deal  until 2013 . The company then went to New Regency and recently to Annapurna .

According to Deadline, Grey is survived by a number of family members, including his wife, Cassandra Grey, their son, Jules, three grown children from a previous marriage, his mother, Barbara Schumsky, his brother, Michael Grey, and his sister, Robin Grey.