Walden Media gets co-CEO

Hoping to infuse his struggling movie company with fresh ideas and generate more box-office hits, Denver billionaire Philip Anschutz has brought in a new creative chief at Walden Media.

Michael Bostick, formerly a top executive at Imagine Films who most recently headed comedy director Tom Shadyac’s production company, will as co-chief executive oversee the development and acquisition of new family films at Walden and adult fare at its sister label, Bristol Bay Productions.

Walden Chief Executive Cary Granat, who will now share his title with Bostick, will focus on the company’s “The Chronicles of Narnia” movie franchise and other select projects. Together they will supervise physical production and marketing, reporting to David Weil, chief executive of Anschutz Film Group, the parent company of Walden and Bristol Bay.

Anschutz began venturing into the movie business eight years ago, buying up troubled theater chains and launching a film production enterprise. A contrarian investor, he has been on a mission to make family-friendly movies with uplifting messages – and money.

“We have a double bottom line,” Weil said. “And to accomplish that, you can’t do good unless you do well financially.”

But that’s been easier said than done.

Despite a windfall from its 2005 blockbuster “The Chronicles of Narnia: The Lion, the Witch and the Wardrobe” and other occasional hits, Walden has been marred by a string of box-office disappointments that most recently included “Mr. Magorium’s Wonder Emporium,” “The Seeker: The Dark is Rising” and “The Water Horse: Legend of the Deep.”

“We were looking for some fresh ideas on the creative side and some consistency in our performance,” said Weil, who was in earlier talks about the job with former Disney Studios executive-turned producer Nina Jacobson.

The hiring of Bostick, 45, who was a producer of such films as “Bruce Almighty,” “Evan Almighty” and “Liar Liar,” follows a major housecleaning and restructuring at Walden. Earlier this year, 18 employees were let go.

Walden currently has a staff of 63, but next month plans on hiring a handful of new employees, Weil said. An additional 18 people also work at Fox Walden, a separate joint venture marketing company between Walden and 20th Century Fox.

As part of Walden’s recent revamping, several executives from Walden’s education division in Boston, which has outreach programs with libraries, schools and faith-based groups, have relocated to the company’s Los Angeles office. Walden’s publishing group remains in Boston.

Even though Walden has been streamlined, Weil said he plans to ramp up production to make more than just a couple movies a year after Bostick settles into the new job. Walden’s upcoming releases include “Nim’s Island” on April 4, “The Chronicles of Narnia: Prince Caspian” on May 16 and “Journey 3-D” on July 11.