Endeavor Chief Ari Emanuel Talks Rebalancing The Company And How Media Disruption Puts It “In The Perfect Spot”
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
Global Road Files For Chapter 11 Bankruptcy Protection – Update
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
For STX, Box Office Dip And China-U.S. Trade War Cloud Hong Kong IPO Picture
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
Jeffrey Katzenberg And Meg Whitman Confirm $1B Raise For NewTV, Eye Holiday 2019 Launch: “Now The Real Fun Begins”
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
‘Rogue Warfare Trilogy’ With Will Yun Lee Headlining To Be Released In 2019
Another feature trilogy, The Rogue Warfare Trilogy, financed by Ingenious and sold worldwide by Highland Film Group and 5150 Action Productions is in the midst of production, with stunt coordinator turned director Mike Gunther filming all three movies at the same time. Will Yun Lee is headlining what is a multi-national, special forces action/drama. We now know that the first of these three films will be released in March 2019 and conversations have begun with a major… Read
SingularDTV Exec “Optimistic” Blockchain Firm Will Get SEC Blessing To Add Crowdfunding To Its Platform
A top executive at the blockchain specialist SingularDTV said the company is “very optimistic” it will gain regulatory approval to enable crowdfunding through its platform.
Letting members of the company’s online community directly invest in film, TV and music projects would close a key loop, said Kim Jackson, co-founder and head of entertainment for the company. During a keynote session at a New York conference sponsored by the Media & Entertainment Services Alliance… Read
Bank of America Merrill Lynch Adds Two Veteran Media Advisors
Bank of America Merrill Lynch has added two veterans of the sector to its media and telecom advisory team.
Sam Powers will start this fall as head of Americas Media & Telecom Investment Banking for the investment bank, which is a unit of BofA. He had been heading up a comparable group at UBS. Randy Russell has joined as a managing director in Media & Telecom after a stint heading Americas Media & Telecom at Deutsche Bank.
“These two hires are important steps in our… Read
Queen Latifah Is First Partner For Essence Fund For African-American Content
A new venture fund focused on African-American content has launched and teamed with its first partner, Queen Latifah’s Flavor Unit Entertainment.
The Essence Creators and Makers Fund has a $20 million endowment from Essence Ventures, the parent company of Essence Communications. The fund will support and partner with creators and makers of color in an effort to mitigate the barriers faced in securing financing for the development and production of projects.
The fund will… Read
SFFILM Rainin Grants For Indie Narrative Films Set, Funding Ten Teams
San Francisco Bay Area film festival promoters SFFILM, in partnership with the Kenneth Rainin Foundation, has announced the development projects that will receive a total of $250,000 in funding in the latest round of SFFILM Rainin Grants.
The organization has backed a prominent slate of past grant winners, including current buzz films Sorry To Bother You and Blindspotting, as well as prominent alumni films Fruitvale Station and Beasts of the Southern Wild.
"Our track… Read
Walden Media & Eugenio Derbez Join Live-Action ‘Dora The Explorer’ Movie
Walden Media has boarded Paramount Players’ live-action film Dora the Explorer, based on the ever-popular kids IP from Nickelodeon. The company will be both co-financing and co-producing. Eugenio Derbez (Overboard) has also joined the film, which is being directed by James Bobin. Paramount has the film set for an August 2, 2019 release.
The film was written by Nick Stoller and Danielle Sanchez-Witzel and fits right into Walden’s family-friendly slate. It previously has… Read
David And Jessica Oyelowo’s Yoruba Saxon Production Company Pacts With MWM Studios
EXCLUSIVE: David and Jessica Oyelowo and their production company Yoruba Saxon have sealed an exclusive, first-look deal with MWM Studios to develop both film and television projects. Yoruba Saxon, founded in 2014, is the company behind such films as A United Kingdom (Fox Searchlight Pathe), Captive (Paramount), Nightingale (HBO) and Five Nights in Main (Filmrise).
Oyelowo, of course, is the actor who won international kudos for his brilliant portrayal of Martin Luther… Read
He’s Baaaack! Ryan Kavanaugh Hired As Consultant By Relativity’s New Owners
UltraV Holdings, the investor group that now controls Relativity Media following a bankruptcy proceeding, has hired the company’s controversial founder and former CEO Ryan Kavanaugh as a consultant. The agreement also opens the door for him to take part in other ways in the company’s new iteration.
According to a lengthy asset purchase agreement (read it here) dated May 17 but filed over the weekend in U.S. Bankruptcy Court for the Southern District of New York, Kavanaugh… Read