UPDATED with more details:Financier and producerParticipantis shuttering after 20 years.
FounderJeff Skollalerted 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.
(L-R) Oscar winners ‘Green Book’ and ‘Spotlight’Universal; Open Road Films
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Participants m.o.
He also mentioned that he hasnt been involved in the day-to-day management of the studio.
Skoll is a Canadian engineer and billionaire who was the first president of eBay.
ParticipantParticipant
He used his wealth to become a philanthropist through the Skoll Foundation and Participant.
He also founded the investment firm Capricorn Investment Group.
It also was behind the Emmy-winning limited seriesWhen They See Us.
Here are some examples of movies that enacted real-life change:
Varietyfirst had the news of Participant closing down.
When I founded this company in 2004, I set out to maximize impact.
We succeeded in creating something truly one-of-a-kind: an impact media company with a double bottom line.
We have achieved the highest levels of critical and commercial success.
We got out the vote and championed investigative journalism.
