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breakingBusiness

Franklin Leonard Announces The Black List Is Raising A Film Fund

Franklin Leonard used the prominent stage of the Wall Street Journal’s Tech D.Live conference to announce he’s raising a film fund to produce some of the exceptional screenplays submitted to The Black List. The Black List’s annual survey of Hollywood executives’ favorite unproduced screenplays has a proven track record for finding compelling stories. Black List movies have won 53 Academy Awards and garnered 262 nominations, including four of the last 10 Best Picture… Read

breakingBusiness

Steven Quale Will Direct Aquatic Thriller ‘Alphas’ For Voltage Pictures

Steven Quale (Into the StormAliens of the Deep) is set to direct the upcoming aquatic thriller Alphas, based on the screenplay by Frank Hannah (The Cooler). The deep sea epic centers on a school of great white sharks terrorizing a coastal town. The only hope is a damaged killer whale who has been in solitary confinement for years after killing its trainer. Producers include Academy Award-winning Nicolas Chartier (The Hurt LockerWind River) for Voltage Pictures, Pierre… Read

International

Filmula & E Stars To Finance Movies For China Distribution – AFM

USA China

Johnny Lin’s Filmula and Allen Liu‘s E Stars are teaming to finance U.S. and international movies for distribution in China, the parties said at AFM today. Filmula will produce and co-finance with E Stars films ranging from commercial tentpoles to Oscar-driven material for E Stars to distribute. The deal also will incorporate Indian financing., they said. Lin was an executive producer of the Tom Cruise crime thriller American Made and, through his relationship with Brian… Read

exclusiveFilm

Saudi Banking Scandal Movie ‘Billion Dollar Mirage’ Moving Forward At Name Lending Films

Billion Dollar Mirage

EXCLUSIVE: Newly formed production company Name Lending Films has set its inaugural project, Billion Dollar Mirage, with secured funding from aX Films and other private equity. The feature adaptation is based on the yet-to-be-released autobiography, Never Do Business With Princes or Kings, by American banker Glenn Stewart. Set in Saudi Arabia and Bahrain, the film centers on one of the largest financial scandals in history. T.Y. Kim is attached to pen the screenplay… Read

Business

‘Fortnite’ Maker Epic Games Raises $1.25 Billion In New Funding

Epic Games, the maker of top-selling videogame Fortnite, has raised $1.25 billion in new funding from investors including KKR, Iconiq Capital and Smash Ventures. Disney and Endeavor are among those with small stakes in Epic. Chinese conglomerate Tencent owns 40% of the company, which was valued by Bloomberg over the summer at between $5 billion and $8 billion. Fortnite has been a breakthrough for the gaming sector, drawing tens of millions of players through a… Read

Business

Open Road Fetches Stalking-Horse Bid In Runup To Bankruptcy Auction

Open Road, the latest independent film company to hit the rocks, has received a “stalking-horse” bid of $87.5 million in Delaware bankruptcy court from a buyer identified as “OR Acquisition Co.” According to court documents, the bid is backed by New York-based private equity firm Raven Capital Management. The firm’s principal, James Masciello, already has some involvement in the film industry. Raven provides financing for Sculptor Media and Masciello is among the… Read

Business

UTA And Valence Media’s MRC Form TV Production And Finance Venture Civic Center Media

UTA MRC

Deepening the investment of Hollywood agencies in content production, United Talent Agency has teamed with Valence Media and its Media Rights Capital subsidiary on a joint venture to be called Civic Center Media. The new entity, in which UTA will hold an undisclosed minority stake, will develop, produce and finance premium TV series. Financial terms were not revealed, and the announcement of the venture said a search is under way for an executive to lead it. The… Read

Business

Inked Brands Raises $6 Million To Support Its “Influencer Commerce” Business, Names New Board Members

Amy Nauiokas Jim Fielding

Inked Brands, an e-commerce company that helps social media influencers convert their followers to customers, has completed a fundraising round with investments from the production company Archer Gray and from Jim Fielding, president of consumer products for 20th Century Fox. The Kentucky-based company as raised $6 million to support its growth, as it builds out a platform where social media influencers create their own content and brands and deliver products to… Read

Business

Endeavor Chief Ari Emanuel Talks Rebalancing The Company And How Media Disruption Puts It “In The Perfect Spot”

Endeavor Logo New

Endeavor CEO Ari Emanuel offered a roomful of Wall Street types his takes on several hot topics in media while also making a case for his privately held company’s progress in evolving from its traditional representation origins. Speaking at the Goldman Sachs Communacopia conference in New York, Emanuel said at the start of this decade, the company made about 80% of its money through traditional representation. Today, that number is closer to 50%, he said, with Endeavor… Read

Business

Global Road Files For Chapter 11 Bankruptcy Protection – Update

Global Road Entertainment

UPDATED at 6:50AM PT with company statement. Global Road has begun its bankruptcy process, as expected, filing for Chapter 11 protection. Following the scenario sources had floated, the filing was made under the Open Road releasing unit, with the IM Global division remaining separate. That maneuver is akin to cutting off a gangrenous limb in order to save the patient. The Donald Tang-owned company also last week laid off around 50 employees in the film operations between… Read

exclusiveBusiness

For STX, Box Office Dip And China-U.S. Trade War Cloud Hong Kong IPO Picture

STX Entertainment

EXCLUSIVE: Ever since it planted a flag in the shifting ground of the movie business, STX Entertainment has fashioned itself a different kind of studio, an operation bent on proving Hollywood's long-held assumptions about mid-budget films wrong. That bid to stand apart has faced a harsh test this month as two star-driven, tweener films have fizzled on consecutive weekends. The Happytime Murders, with Melissa McCarthy, missed the target in its opening, and the Mark… Read

Business

Jeffrey Katzenberg And Meg Whitman Confirm $1B Raise For NewTV, Eye Holiday 2019 Launch: “Now The Real Fun Begins”

Jeffrey Katzenberg Meg Whitman

Jeffrey Katzenberg and Meg Whitman, who first worked together decades ago at the Walt Disney Co., have re-teamed for one of the most lucrative fundraising efforts by a startup. They have secured an initial round of $1 billion for their mobile video network, NewTV, with an eye toward launching the subscription service by the end of 2019. The raise had been reported last month, but NewTV is officially confirming it today. In an interview with Deadline, Katzenberg and… Read