Latest Business News

Ryan Kavanaugh Sued For Fraud By Relativity Investor

Relativity CEO Ryan Kavanaugh was sued today by one of his investors over monies that the plaintiff put into the struggling company, saying he was “fraudulently induced” into providing financial investment. Carey Metz, a hedge fund investor, alleges in the complaint that “Kavanaugh desperately needed money to save Relativity from bankruptcy and to save his reputation and lifestyle, so [Kavanaugh] said whatever he thought would be persuasive, regardless of the truth, to… Read

Disney Extends Terms For Four Top Execs Ahead Of Bob Iger’s 2019 Exit

Four of Disney’s top execs just agreed to contract extensions, potentially maintaining stability in the C-Suite as CEO Bob Iger prepares to leave in July 2019. General Counsel Alan Braverman will stay to July 2, 2019 (from his previous end date of March 31, 2018), according to an SEC filing. Chief Strategy Officer Kevin Mayer and CFO Christine McCarthy will go to June 30, 2021 (from June 30, 2019). And Chief Human Resources Officer Jayne Parker has a new contract that… Read

Is Bob Iger Fed Up With One Of Disney’s Most Vigorous Wall Street Critics?

Bob Iger

After his many years in the spotlight, Disney CEO Bob Iger seems to have a thick hide when it comes to dealing with critics. Well, most of them. BTIG analyst Rich Greenfield appears to have gotten under the CEO’s skin following a series of posts accusing the Disney chief for being, as he put it on August 9, “short-sighted in opting to boost near-term profits (by monetizing to Netflix, Hulu and others) versus investing to build their own direct-to-consumer business.” Iger… Read

Esai Morales Threatens Election Fraud Complaint If “Petty Politics” Continue At SAG-AFTRA

Esai Morales Gabrielle Carteris

Esai Morales is on a mission. He's running for president of SAG-AFTRA, but more importantly, he says, he's on a crusade to change the union's culture. The union's current leaders, he says, have put their own "petty partisan politics over the needs of the members, and that needs to change." And now he's threatening to file an election complaint against his main opponent – SAG-AFTRA president Gabrielle Carteris – if those "petty politics" continue. Carteris' Unite For… Read

Lionsgate Taps WB Exec To Streamline Biz After Starz Buy

Lionsgate has hired longtime Warner Bros executive Leon Pilosof for the newly created role of SVP and Head Of Procurement. The 30-year industry veteran will be tasked with spearheading cost-savings initiatives after Lionsgate’s recent acquisition of Starz, identifying opportunities to pool resources, eliminate duplicative vendor relationships, and implement cost synergies. Lionsgate in December closed its $4.4 billion cash and stock deal to acquire Starz, the No. 2… Read

Media A-Listers Back eSports Betting Firm As It Dives Into Cryptocurrencies

Talk about trendy: An investment group that includes Mark Cuban, Ashton Kutcher, Elisabeth Murdoch, and Shari Redstone is feeling lucky about a business that aims to become a power in betting on eSports with cryptocurrencies. The A-listers have invested in Unikrn, an eSports betting company. And it says today that beginning September 22 it hopes to persuade consumers to spend $100 million on its own currency, UnikoinGold, which is based on the Ethereum software… Read

HRTS Adds Four To Board Of Directors

The Hollywood Radio and Television Society has appointed four new board members to its information and networking forum. Dan Erlij of UTA, Pearlena Igbokwe of Universal TV, Chris Selak of Lionsgate and Chris von Goetz of ICM Partners will serve through 2017-2019. The announcement came from organization president Eric Schrier of FX Networks and HRTS executive director Dave Ferrara. Erlij is a senior partner and longtime agent in the Television Literary Department at UTA… Read

Toronto Film Festival Sets Industry Conference Programs; Glenn Close, Armie Hammer, Larry Wilmore Among Speakers

The Toronto Film Festival rolled out its 2017 Industry Conference program today, with this year's lineup exploring “the power of storytelling” and themes and challenges that have made a global impact on the film industry. The six-day conference runs September 8-13. "The importance of compelling, original storytelling lies at the heart of our programming, and we are privileged to have some of the most renowned artists and practitioners in the business, onstage at the… Read

Ric Reitz Re-Elected President Of SAG-AFTRA Atlanta Local, Continues Run Of Wins For Gabrielle Carteris Supporters

Ric Reitz has been re-elected president of  SAG-AFTRA’s Atlanta local, handily defeating challenger Scott Hunter by 326 votes to 181. Reitz, who is something of a colorful character, is not only a busy actor but a broker of Georgia film tax credits. As Deadline reported two weeks ago, he's also advised producers on a "magic formula" to employ movie stars on the cheap. "Here's the magic formula," he said on a 2014 podcast. "For them to qualify annually for insurance… Read

New York Talent Agent Mark Schlegel Missing Since Sunday, Family Says

Talent agent Mark Schlegel went missing Sunday, and his family and police are baffled about what happened and why. Schlegel, 57, works for CornerStone Talent Agency in Manhattan, where his client list includes Brandon Flynn (13 Reasons Why), Daniel Sunjata (The Dark Knight Rises) and Dominic Chianese (The Sopranos), among others. He has been with CornerStone since 2002. Police claim he walked out of his home Sunday afternoon in the leafy suburb of Oradell, NJ, and never… Read

New York Times Editor To Court: Paper Didn’t Blame Sarah Palin For Mass Shooting

Attorneys for Sarah Palin and the New York Times put the newspaper’s editorial sausage-making process under examination today, as a Manhattan federal district court judge heard testimony about how, exactly, one particularly gristly bite came into being. Insisting he did not intend to imply a “causal link” between the 2011 mass shooting that left Rep. Gabby Giffords of Arizona severely wounded and a notorious “crosshairs” map distributed by a Sarah Palin PAC, Times… Read

L.A. Film Czar Ken Ziffren Says Premium VOD For Studios Still In Limbo

Ken Ziffren

The major Hollywood studios’ flirtation with Premium VOD and their talks with exhibitors has been akin to “tip-toeing up to the edge of the ocean water, and tip-toeing back” Los Angeles film czar Ken Ziffren said today at his ninth annual state of the entertainment industry address before the Beverly Hills Bar Association. “It’s one thing you don’t do with the major (theater) circuits,” advised Ziffren. “If it happens,” said Ziffren about studios’ yearning for PVOD, “it’s… Read