Dick Clark Productions Sale To Wanda Group Slowed By Chinese Deal Limits
Wanda Group’s $1 billion deal to buy Dick Clark Productions has been delayed — but not derailed — as a result of China’s recent effort to limit capital flight from the country.
The early November pact is now expected to close in a matter of weeks as the companies grapple with controls that China’s Commerce Ministry imposed late last year on overseas deals of $1 billion or more.
Former Guggenheim Partners president Todd Boehly's Eldridge Industries controls DCP, which… Read
Global Eagle Shares Dive As It Replaces CEO & CFO, And Delays Report
The feathers are flying today at Global Eagle Entertainment, the airline entertainment and internet company founded by former CBS and Sony exec Jeff Sagansky and former MGM chief Harry Sloan.
Its share price is down more than 29% in mid-day trading after it announced that CEO Dave Davis and CFO Tom Severson — who took the job in August — resigned, that it will miss the SEC’s March 16 deadline to file its annual report for 2016, and warned investors to “no longer rely” on… Read
Michael Paull Leaves Amazon To Become CEO Of MLB & Disney’s BAMTech
Major League Baseball’s tech arm, BAMTech, just picked up an important free agent as it lured Michael Paull to become its CEO — leaving Amazon where he was VP of Digital Video.
In March he’ll move to New York to take charge of the operation that’s co-owned by Major League Baseball Advanced Media, Disney, and the National Hockey League. He replaces founding executive Bob Bowman, who remains at MLB as President, Business and Media — a job that oversees the league's… Read
Yahoo Agrees To $350M Price Cut To Keep Asset Sale To Verizon On Track
Yahoo agreed to shave up to $350 million from the deal to sell its assets to Verizon, and accept legal liabilities from previously reported hacking incidents, as a price to keep the agreement on track, the companies said this morning.
The new terms value the pact at $4.48 billion. The companies say they expect it to close in Q2.
In addition to the price cut, Yahoo is responsible for half of the cash liabilities from any non-SEC related investigations or third-party… Read
As Rumors Swirl, Is Brad Grey Long For Paramount?
EXCLUSIVE: Rumors are racing around Hollywood that Paramount Pictures chairman and CEO Brad Grey is on his way out after a 12-year run. The most widely rumored version is that Grey has packed up his office and canceled a bunch of meetings. The packing up the office rumor isn’t the case — he is not there, but the lot closed early today because of the Presidents Day holiday weekend. But it certainly seems that something is happening and that Grey’s run as chief is ending… Read
T-Mobile & Sprint Shares Spike As Merger Prospects Brighten
The prospect of a merger between T-Mobile and Sprint — the respective No. 3 and 4 wireless providers — looks more likely this afternoon: Both companies’ shares spiked after Reuters reported that Sprint owner SoftBank Group is willing to relinquish control to T-Mobile US, which is controlled by Deutsche Telekom.
T-Mobile is up 4.4% and Sprint more than 3% following the report.
The wire service notes that the companies aren’t engaged in deal talks yet. The FCC bars them… Read
Black Label Media Ups Jon Schumacher & Rachel Smith
Black Label Media has promoted two execs from within — Jon Schumacher to Senior VP Development and Rachel Smith as VP Development.
Schumacher, who has been with Black Label since its inception, has brought in many films of the company’s slate, most recently the Jerry Bruckheimer-produced Horse Soldiers. He is overseeing the company’s transition into television, where a first-look deal with ABC Signature/ABC Studios is in place and has in development Beale Street Dynasty… Read
Facebook’s Mark Zuckerberg Lobbies For “Global Community” & Against Fake News
Facebook CEO Mark Zuckerberg turned to his favorite social media platform today to post a 5,800 treatise that attacks fake news, and supports lowering global barriers — even as President Trump and others call for raising them.
“Facebook stands for bringing us closer together and building a global community,” he says. “When we began, this idea was not controversial….Yet now, across the world there are people left behind by globalization, and movements for withdrawing from… Read
Univision: U.S. Is A “Primary” Market For Televisa Programming Following Deal
The U.S. will become “a primary place for distribution of content, not a secondary place” for Mexican media giant Grupo Televisa following last month’s agreement with Univision to blend their production operations, Univision CEO Randy Falco told his investors this morning.
The agreement expanded the responsibilities for Univision’s Isaac Lee, making him Chief Content Officer of both Univision and Televisa.
Falco says he’s optimistic about the change based in part on the… Read
Former TV Land President Larry Jones Named CEO of Blackthorn Media
Former TV Land President Larry Jones has been named CEO of Blackthorn Media, one of the pioneers in the emerging VR genre of scripted storytelling. The 27-year Viacom veteran will lead the company’s business and creative strategies, including development, production, distribution, marketing and finance of all original content.
"We are thrilled to win Larry’s interest in Blackthorn," said Michael Conelly, Creative Director & President, Blackthorn Media. "The field is… Read
Discovery To Boost Its Short Form Production In Deal With Snapchat
Discovery Communications will increase its involvement with so-called “mobile first” shortform programming in a deal announced today to develop shows for Snapchat’s Discover platform.
The lineup will include shows they say will be “inspired by” Discovery properties including Shark Week and Mythbusters.
They also plan to collaborate to offer Discovery advertisers opportunities to reach audiences using what they call “Snap's innovative advertising technology and formats and… Read
Charter Talks Up Mobile Plans As It Ends Time Warner Cable Video Discounts
Charter Communications is the No. 2 cable provider — but it’s starting to sound more like a wireless company based on CEO Tom Rutledge’s comments to analysts in this morning’s conference call to discuss Q4 earnings.
Much of the talk involved Charter’s plan to introduce a mobile service in 2018 that blends its wifi services with Verizon’s cell network.
“Our goal is to include wireless services in our packages and drive more customer relationship growth,” Rutledge says.