| REAMWORKS | Film studio that, after downsizing, becomes a paper mill? |
| NEWSAGENT | Novel retracted as bloke becomes a paper seller (9) |
| BINCAPITAL | Private equity firm that, after downsizing, becomes a supplier of recycling containers? |
| PLANEHOLLYWOOD | Movie-themed restaurant that, after downsizing, becomes a manufacturer of movie aircraft? |
| CRAGSLIST | Classified ads website that, after downsizing, becomes a website about rugged cliffs? |
| ROTROOTER | Plumbing repair company that, after downsizing, becomes a company whose employees cheer for decay? |
| THESHARPERMAGE | Electronics and lifestyle products retailer that, after downsizing, becomes a retailer of more intelligent sorcery products? |
| MASTERCAR | Financial services giant that, after downsizing, becomes an auto dealership for chess experts? |
| RADMCNALLY | Atlas publisher that, after downsizing, becomes basically the same company but way cool? |
| SALLE | Historically, the finishing house of a paper mill; or, a hall for fencing (5) |
| NOKIA | Tech company that started as a paper mill |
| APPEAR | Seem to be a paper mill (6) |
| WOODPULP | Raw material for a paper mill |
| RAGS | Shipment to a paper mill |
| MGM | Film studio that shares its name with a Las Vegas casino |
| MARVEL | Film studio that produced The Avengers (6) |
| TRISTAR | Film studio that made "Jerry Maguire" |
| BBC | ___ Film (studio that produced Rye Lane) |
| DISNEY | Major film studio that gave the world Mickey Mouse |
| NEWLINE | Film studio that distributed the "Lord of the Rings" trilogy |
