Following in Warner Bros' and Disney's footsteps, Viacom-owned Paramount (as in the gargantuan studio behind about half of all the blockbuster films you have ever watched) has announced a new 'flexible' business model for gaming that will mix publishing and development funding.

Why are we excited about this? Because the focus for this venture will be casual, mobile and handheld games.

According to Variety, Paramount's first clutch of titles will be based on new film IPs or its back catalogue of properties (no surprises there then). What is a tad less predictable is Paramount's proposed approach to getting the games out there.

"There's going to be a slate where in some cases we're publishing, in some cases we're co-publishing, or in others we're funding development and another publisher buys it. It's important for us to have a flexible model," said Sandi Isaacs, senior VP of interactive and mobile.

Even if the model proposed doesn't necessarily mean that Paramount will publish every game it develops, the fact that the financial might of such an IP rich company is making a bold step into gaming is significant in itself. And the fact that Paramount intends to focus on portable and casual games seems to us like a strong indication of where the industry's biggest economic opportunities lie in the future.

Taking this venture by the horns will be Matt Candler, formerly of Grind Games, Seven Studios and Activision, and Luke Letizia, formerly of Sega.

Exciting times people, especially as it brings the publishing clout of an enormous company without the sort of threat to smaller publishers and developers normally associated with such a move. Let's hope this isn't a wolf in sheep's clothing, eh?