I find it almost impossible to believe--after all, Graydon knows nothing about running a major studio--but, for what it’s worth, these are the arguments being put forward by those who are giving the rumour some airtime:

1. Brad Grey’s position looks increasingly untenable. There’s another front page story in the New York Times today linking him with Anthony Pellicano and, at this rate, it’s not a question of if he goes, but when.

2. The Board of Paramount will want to move the story on as soon as they give Grey his marching orders and what better way to do that than to choose someone completely unexpected to succeed him? In Hollywood, Graydon’s appointment will be almost as big a talking point as Brad Grey’s dismissal.

3. There have been plenty of previous rumours about Graydon’s imminent departure, but they’ve lacked plausibility because, after all, why would he voluntarily give up such a great job? That isn’t a factor here because being head of Paramount is self-evidently a better job than editing Vanity Fair.

4. Okay, Graydon has no experience of running a Hollywood studio, but, then, neither did Brad Grey. Admittedly, that may be an argument for replacing Grey with an industry veteran--“a safe pair of hands”--but maybe not. Graydon has a good relationship with “the talent” and he knows a thing or two about packaging.

5. April Fool’s Day is still one week away.