COMPANY TOWN ANNEX

Ex-Paramount President Shelves Ambitious Plans: Frustrated by the drying up of money for film production, Stanley Jaffe has scaled back his business plan for now in lieu of a more conventional production deal through Sony Pictures, sources confirmed. Jaffe had planned to raise about $225 million in outside capital to finance his films, with Sony kicking in an additional $75 million. Daily Variety reported that Jaffe is expected now to produce about four films a year, compared with as many as 10 under his previous plan. Jaffe is one of a number of producers who are finding it difficult to raise outside money, reflecting a growing wariness on the part of investors worried about losing money in Hollywood.