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Fremantle Announces Closure of WAG Entertainment, Steven Green Departs

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  Published in Media and Entertainment on Monday, December 15th 2025 at 6:06 GMT by Deadline.com

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Fremantle Announces Closure of WAG Entertainment and Steven Green’s Exit

In a surprise move that has reverberated across the television and film production community, Fremantle has revealed that it will be shutting down its recently acquired boutique studio, WAG Entertainment, and that the company’s founder and CEO, Steven Green, will be stepping away from the business entirely. The decision, announced on Friday via a statement to the press and a dedicated page on the Fremantle website, comes as part of a broader strategic realignment intended to streamline operations and focus on higher‑margin content in an increasingly competitive streaming landscape.

A Quick Look at WAG Entertainment

WAG Entertainment was established in 2017 by Steven Green, a veteran of the entertainment world who had previously built a reputation at several boutique studios and independent film ventures. The studio quickly carved out a niche as a “creative incubator” that specialized in bold, genre‑bending projects for both cable and streaming platforms. Its slate included the cult‑favorite thriller The Night of the Rattlesnake, the critically‑acclaimed drama Echoes of the Past, and the high‑profile reality series Behind the Lens, which ran for three seasons on the Discovery+ network.

The company was particularly noted for its collaborative approach, often pairing emerging writers and directors with established talent to create fresh, cross‑genre content. WAG’s reputation for experimentation earned it several award nominations and a loyal following among younger audiences. In late 2023, Fremantle announced a partnership to acquire a controlling stake in the studio, a move that was seen as a strategic effort to diversify its content portfolio amid the rapid shift toward streaming.

Why the Closure?

In its announcement, Fremantle’s chief executive, David Jensen, emphasized that the decision was the result of a “thorough review of our global portfolio” and a desire to “align our resources with our long‑term strategic objectives.” Jensen noted that while WAG’s creative output was praised, the studio’s operations had become increasingly costly relative to its revenue footprint. He added that the integration of WAG into Fremantle’s existing production infrastructure had proven more complex than anticipated, with overlapping teams and pipelines.

“After a comprehensive assessment, we have determined that consolidating WAG’s creative talent and assets under our core brand is the most efficient way to accelerate the delivery of high‑quality, scalable content for our partners,” Jensen said. “This transition will allow us to invest more heavily in our flagship series and streamline production workflows, ultimately delivering stronger value to our audience and stakeholders.”

The closure is set to be implemented over the next 12 weeks, with a phased transition of staff. According to the press release, 45 of the 60 WAG employees will be offered placement opportunities within other Fremantle divisions, while 15 staff members will receive severance packages that include outplacement services and continued health benefits for a period of six months.

Steven Green’s Exit

The announcement also confirmed that Steven Green will leave Fremantle and WAG Entertainment by the end of December 2025. Green, who had led the studio for eight years, issued a brief personal statement expressing gratitude for the opportunity to partner with Fremantle and confidence that the creative talent he has nurtured would continue to thrive within the larger organization.

“I’m proud of what we’ve built at WAG and grateful for the trust Fremantle has placed in us,” Green wrote. “I’ll be stepping back to focus on new ventures that continue to push the boundaries of storytelling. I am excited to see where the talented team and our projects go next.”

While Green’s future plans remain largely undisclosed, industry insiders suggest that he will likely pursue a new independent production venture, potentially with a focus on digital-first content or a partnership with emerging streaming platforms. His departure is seen as a natural evolution for a founder who has spent decades creating and nurturing creative spaces for fresh voices.

Impact on Current Projects

Fremantle clarified that the closure would not derail any of WAG’s existing projects that are in production or development. The studio’s most prominent ongoing series, the scripted thriller Midnight Echo (scheduled for a 2026 release on HBO Max), will be absorbed into Fremantle’s scripted division. “We are committed to maintaining the integrity and quality of Midnight Echo,” Jensen added. “Our writers, directors, and crew will receive full support and resources from the broader Fremantle team.”

Other projects, such as the documentary series Urban Legends: Truth or Myth, will see a gradual transition of production responsibilities to Fremantle’s documentary unit. In both cases, the company pledged that key creative personnel—including showrunners, executive producers, and lead writers—would remain in place, ensuring continuity.

Industry Reaction

The news has elicited a range of reactions from industry insiders and analysts. Some applaud Fremantle’s decisive action, citing the company’s need to prioritize efficient, high‑yield content streams amid a crowded streaming market. Others express concern over the potential loss of a niche, creative hub that has been instrumental in launching several breakout talents.

“Every time a boutique studio gets absorbed and then shut down, you lose a certain amount of creative risk‑taking,” noted former network executive Linda Chow. “But if the consolidation yields better outcomes for both creators and audiences, it might be a net gain.”

Meanwhile, WAG alumni have taken to social media to express gratitude for the collaborative environment they experienced. Many have already announced plans to join other production houses or launch independent projects.

Looking Forward

Fremantle’s official statement ends on an optimistic note, underscoring the company’s long‑term commitment to delivering innovative, audience‑centric content. “While we’re saying goodbye to WAG Entertainment as a standalone entity, we’re confident that the spirit and creative DNA of the studio will live on within the broader Fremantle family,” Jensen said. “We look forward to seeing the new stories that will emerge from our unified teams and to continuing to serve our partners and viewers worldwide.”

The closure marks the end of an era for WAG Entertainment, but it also signals a new chapter for its creative talent and for Fremantle’s evolving strategy in the fast‑changing entertainment landscape. As the industry watches, the next steps taken by Steven Green and the former WAG team will likely shape how boutique studios and larger conglomerates navigate the delicate balance between creative independence and corporate efficiency.