Jim Paratore, president of Telepictures Productions and evp of Warner Bros. Domestic Television Distribution, is stepping down to form a television production company, paraMedia inc., which will have an exclusive overall deal with the Warner Bros. Television Group. The announcement comes a day after Paratore's boss, Warner Bros. Domestic TV Distribution President Dick Robertson, announced he was retiring. Robertson's replacement is expected to be announced shortly. ParaMedia will focus on first-run syndicated programming, produced in association with Telepictures Productions. The company will also produce prime-time nonscripted reality programs and low-budget scripted series in association with the recently founded Warner Horizon Television, as well as new media content for digital platforms, such as the Telepictures-produced entertainment gossip Web site TMZ.com. Development is earmarked for the 2007-08 season.