Lionsgate’s long-gestating plan to split the studio with Starz is finally a go as the company announced today that Studios — the TV studio, motion picture group and film and television libraries — will merge with Screaming Eagle Acquisition Corp., a Spac (special purpose acquisition company) led by Eli Baker.
The separation is expected to close this spring turning Lionsgate Studios into one of the biggest global pure-play publicly-traded content companies and the hope is, an attractive acquisition target — adding more fuel to the media M&a chatter already in full swing. The Studios’ portfolio includes franchise properties The Hunger Games, John Wick, The Twilight Saga and Ghosts; a robust film and television production and distribution business; a leading talent management and production company; and a large film and television library that throws off significant cash.
Lionsgate has planned for nearly two years to separate the studio and Starz. CEO Jon Feltheimer...
The separation is expected to close this spring turning Lionsgate Studios into one of the biggest global pure-play publicly-traded content companies and the hope is, an attractive acquisition target — adding more fuel to the media M&a chatter already in full swing. The Studios’ portfolio includes franchise properties The Hunger Games, John Wick, The Twilight Saga and Ghosts; a robust film and television production and distribution business; a leading talent management and production company; and a large film and television library that throws off significant cash.
Lionsgate has planned for nearly two years to separate the studio and Starz. CEO Jon Feltheimer...
- 12/22/2023
- by Jill Goldsmith
- Deadline Film + TV
Conference
An in conversation event with Paramount Global executives Pam Kaufman, president and CEO of international markets and global consumer products and experiences, and Lisa Kramer, president of international TV licensing, Paramount Global Content Distribution, has been added to the NATPE Global conference.
Jens Richter, Fremantle’s CEO of commercial and international and Paulo Koelle, head of Prime Video Latin America, Amazon Studios have also joined the speaker lineup. Other executives who have recently been confirmed include Jeff Sagansky, Sky’s group director of acquisitions, Katie Keenan, Acf Investment Bank’s Richard Gray, Satmohan Panesar, commissioner, factual, ITV Studios, Michael Schmidt, president, Sipur and Ilan Arboleda, co-founder and producer, CreativeChaos vmg.
Speakers also include Patricia Jasin, country manager Colombia and head of international distribution for Warner Bros. Discovery, Latin America/U.S. Hispanic, Sandra Smester, executive VP, programming and content, NBCUniversal Telemundo, Susanne Frank, director of Drama at Zdf Studios and Lindsay Stewart,...
An in conversation event with Paramount Global executives Pam Kaufman, president and CEO of international markets and global consumer products and experiences, and Lisa Kramer, president of international TV licensing, Paramount Global Content Distribution, has been added to the NATPE Global conference.
Jens Richter, Fremantle’s CEO of commercial and international and Paulo Koelle, head of Prime Video Latin America, Amazon Studios have also joined the speaker lineup. Other executives who have recently been confirmed include Jeff Sagansky, Sky’s group director of acquisitions, Katie Keenan, Acf Investment Bank’s Richard Gray, Satmohan Panesar, commissioner, factual, ITV Studios, Michael Schmidt, president, Sipur and Ilan Arboleda, co-founder and producer, CreativeChaos vmg.
Speakers also include Patricia Jasin, country manager Colombia and head of international distribution for Warner Bros. Discovery, Latin America/U.S. Hispanic, Sandra Smester, executive VP, programming and content, NBCUniversal Telemundo, Susanne Frank, director of Drama at Zdf Studios and Lindsay Stewart,...
- 12/12/2023
- by Naman Ramachandran
- Variety Film + TV
This past summer, as Hollywood faced its second major strike, the president of actors union SAG-AFTRA took the podium. She was without makeup, she was raspy and she was pissed. Gone was the ozone-shattering hairspray and the wild prints plucked right from the zoo. Nowhere in earshot was the dog whistle voice and the dolphin laugh. This was Fran Drescher: not the street-smart bimbo of somehow successful sitcoms and expectedly by-the-numbers romances, but the woman who will do anything to show her loyalty and not back down from anything. She had done it throughout her career through battles with industry execs and cancer, and now she was doing it against some of the biggest names in Hollywood.
Wtf Happened to…Fran Drescher?
But to truly understand what the fuck happened to Fran Drescher, we go back to the beginning. And the beginning began when she was born on September 30th,...
Wtf Happened to…Fran Drescher?
But to truly understand what the fuck happened to Fran Drescher, we go back to the beginning. And the beginning began when she was born on September 30th,...
- 9/1/2023
- by Mathew Plale
- JoBlo.com
Back in 1990, CBS’s The Flash was a favorite of young comic book fans. Growing up as a young comic book fan in the ’80s and ’90s was not easy. All you current comic fans have it so easy. I grew up in the dark times, my friends. We were glad when anything comic book related was on movies and TV. We were so desperate that we would make excuses for anything.
Superman III? Hey, he gets to fight an evil Superman.
Generation X? Look they’re in the X-mansion!
Howard the Duck? Yeah….I got nothing.
But every once in a while someone would get it right. Richard Donner’s Superman started it but it was Tim Burton’s Batman film in 1989 that started to change things. Sure we would eventually get duds like Batman & Robin, but we also had Batman The Animated Series and Blade. Yet for a long time,...
Superman III? Hey, he gets to fight an evil Superman.
Generation X? Look they’re in the X-mansion!
Howard the Duck? Yeah….I got nothing.
But every once in a while someone would get it right. Richard Donner’s Superman started it but it was Tim Burton’s Batman film in 1989 that started to change things. Sure we would eventually get duds like Batman & Robin, but we also had Batman The Animated Series and Blade. Yet for a long time,...
- 5/22/2023
- by David Arroyo
- JoBlo.com
Exclusive: Emmy award-winning Indian producer Apoorva Bakshi (Delhi Crime) has boarded The Glassworker, Pakistan’s first ever Hayao Miyazaki-style animated feature, as an executive producer.
Bakshi, who is producing through her Awedacious Originals banner, joins a growing team of supporters of the ground-breaking 2D hand-drawn project, directed by Pakistan’s Usman Riaz and produced through his Karachi-based Mano Animation Studios.
Spanish animation producer Manuel Cristobal is also on board the project, while Paris-based sales agency Charades picked up international rights after it was presented as a work-in-progress at Annecy International Animation Film Festival last year. The film is currently in post-production and scheduled for delivery in August.
Set in a location loosely inspired by Pakistan, the film revolves around a father and son who run the finest glass workshop in the country but find their lives upended by an approaching war in which they want no part.
A long-time...
Bakshi, who is producing through her Awedacious Originals banner, joins a growing team of supporters of the ground-breaking 2D hand-drawn project, directed by Pakistan’s Usman Riaz and produced through his Karachi-based Mano Animation Studios.
Spanish animation producer Manuel Cristobal is also on board the project, while Paris-based sales agency Charades picked up international rights after it was presented as a work-in-progress at Annecy International Animation Film Festival last year. The film is currently in post-production and scheduled for delivery in August.
Set in a location loosely inspired by Pakistan, the film revolves around a father and son who run the finest glass workshop in the country but find their lives upended by an approaching war in which they want no part.
A long-time...
- 5/21/2023
- by Liz Shackleton
- Deadline Film + TV
Crazy Rich Asians producer Sk Global Partners has struck a strategic alliance with Elefantec Global to produce Spanish-language content for audiences around the world.
The partnership will finance original Spanish language content aimed at Latino audiences, while working with broadcasters and platforms worldwide. The alliance was made public by Sk Global CEO Charlie Corwin and Elefantec Global founder José “Pepe” Bastón
“We are thrilled to partner with Pepe and the whole team at Elefantec Global, a studio uniquely positioned to engage the Spanish language community and bridge the gap between buyers and creators. Our approach is to invest in and own high quality, best-in-class movies and television shows for the Spanish-speaking world through unique access to IP and relationships with top talent,” Corwin said in a statement.
In 2022, Sk Global pacted with Aaron Kaplan, Jeff Sagansky and Florence Sloan to launch the joint venture Jaya Entertainment to develop, finance and...
The partnership will finance original Spanish language content aimed at Latino audiences, while working with broadcasters and platforms worldwide. The alliance was made public by Sk Global CEO Charlie Corwin and Elefantec Global founder José “Pepe” Bastón
“We are thrilled to partner with Pepe and the whole team at Elefantec Global, a studio uniquely positioned to engage the Spanish language community and bridge the gap between buyers and creators. Our approach is to invest in and own high quality, best-in-class movies and television shows for the Spanish-speaking world through unique access to IP and relationships with top talent,” Corwin said in a statement.
In 2022, Sk Global pacted with Aaron Kaplan, Jeff Sagansky and Florence Sloan to launch the joint venture Jaya Entertainment to develop, finance and...
- 2/15/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Independent film and TV studio Sk Global Entertainment (“Crazy Rich Asians”) has set a strategic alliance with global Latino audience focused Elefantec Global to produce original Spanish-language content.
The alliance will self-finance original Spanish language content in partnership with broadcasters and platforms around the world and will leverage the combined expertise, market knowledge and relationships with top talent the two companies enjoy.
A slate of commercial projects aimed at a broad audience is being developed by the alliance. Among the projects in development is a comedy series featuring Mexican star Lucero, written by Fernanda Eguiarte and executive produced by Eva Longoria.
Founded by well-regarded Latin American TV executive José ‘Pepe’ Bastón, Elefantec Global’s primary focus is creating original content to serve the 440 million native Spanish-speaking audience worldwide. Credits include series “Bosé,” for Paramount+, “La Rebelión” for ViX+, “Todo Por Lucy” for Prime Video, and eight direct-to-streaming movies in the last 14 months.
The alliance will self-finance original Spanish language content in partnership with broadcasters and platforms around the world and will leverage the combined expertise, market knowledge and relationships with top talent the two companies enjoy.
A slate of commercial projects aimed at a broad audience is being developed by the alliance. Among the projects in development is a comedy series featuring Mexican star Lucero, written by Fernanda Eguiarte and executive produced by Eva Longoria.
Founded by well-regarded Latin American TV executive José ‘Pepe’ Bastón, Elefantec Global’s primary focus is creating original content to serve the 440 million native Spanish-speaking audience worldwide. Credits include series “Bosé,” for Paramount+, “La Rebelión” for ViX+, “Todo Por Lucy” for Prime Video, and eight direct-to-streaming movies in the last 14 months.
- 2/15/2023
- by Naman Ramachandran
- Variety Film + TV
It’s been a month since Jeff Sagansky’s fiery speech at a NATPE event proclaimed that “we are in a golden age of content production and the dark age of creative profit sharing.” It put the prominent media investor and producer and former top entertainment executive at the center of a conversation about the adverse impact the proliferation of the streaming-driven “cost plus” business model has had on profit participation and ways Hollywood producers, agents and guilds can mobilize and fight to restore backend for creative talent. The issue of vanishing backend, to the tune of as much as 1.5B of lost income a year for creative talent, is expected to be front and center in the looming WGA and other unions’ negotiations with the studios on new a film and TV basic agreement.
I caught up with Sagansky to discuss the Hollywood response to his speech and what...
I caught up with Sagansky to discuss the Hollywood response to his speech and what...
- 7/6/2022
- by Nellie Andreeva
- Deadline Film + TV
It became the speech heard around Hollywood — Jeff Sagansky’s blistering comments last week about the adverse impact the proliferation of the streaming-driven “cost plus” business model has had on profit participation struck a chord in the industry. A week after Deadline wrote about the media investor and producer’s speech at a NATPE event, the discussion over the issue continues, with agencies and unions mulling ways to step in and help the creative talent they represent.
Sagansky’s scathing address was brought up today at an Hrts luncheon where producer John Wells, a force within the WGA and former longtime president of the guild, offered his comments.
“I do believe the industry over time will have to return to more shared rights agreements,” he said. “Everything costs too much. It’s hard for companies to make money without enough revenue. Cost plus is complicated. They really remove the ability...
Sagansky’s scathing address was brought up today at an Hrts luncheon where producer John Wells, a force within the WGA and former longtime president of the guild, offered his comments.
“I do believe the industry over time will have to return to more shared rights agreements,” he said. “Everything costs too much. It’s hard for companies to make money without enough revenue. Cost plus is complicated. They really remove the ability...
- 6/8/2022
- by Nellie Andreeva
- Deadline Film + TV
Churning out 22 episodes a season may not appeal to today’s up and coming writers but there’s always been an upside to working on a broadcast TV show, insists uber-producer John Wells: it helps to create well-trained showrunners.
While speaking at the Hrts Presidents Luncheon Tuesday with Power creator Courtney A. Kemp and Netflix’s Head of Scripted Series Peter Friedlander, Wells lamented at how quickly many of today’s writers are getting promoted without them spending enough time on set. He remembers how unthinkable it was for a young writer like himself to pitch a new show unless he spent at least seven years on a broadcast series.
“That experience is really important to be able to succeed,” Wells said. “Now very talented people are being elevated into positions and they haven’t really had the experience to [learn] the managerial side of it. And it’s only been made worse by Covid.
While speaking at the Hrts Presidents Luncheon Tuesday with Power creator Courtney A. Kemp and Netflix’s Head of Scripted Series Peter Friedlander, Wells lamented at how quickly many of today’s writers are getting promoted without them spending enough time on set. He remembers how unthinkable it was for a young writer like himself to pitch a new show unless he spent at least seven years on a broadcast series.
“That experience is really important to be able to succeed,” Wells said. “Now very talented people are being elevated into positions and they haven’t really had the experience to [learn] the managerial side of it. And it’s only been made worse by Covid.
- 6/7/2022
- by Lynette Rice
- Deadline Film + TV
On a long night of superlative-filled salutes to TV legends, Amy Poehler got the last laugh at the 18th annual Brandon Tartikoff Awards.
Poehler was No. 7 out of the seven honorees who were feted Thursday night at the Beverly Wilshire hotel in Beverly Hills with the annual TV achievement kudos handed out by the National Assn. of Television Program Executives. The Tartikoff Awards are typically held during the NATPE conference in January, but that annual tradition was tabled this year by the Covid upsurge.
Poehler, the multi-hyphenate “Parks and Recreation” star who has become a prolific producer, made the most of her closing slot. She opened with a wry reference to an earlier snafu when presenter Connie Chung noted that the wrong speech was loaded on to the teleprompter as she delivered her remarks about Tartikoff honoree Maury Povich, who is also her husband.
“For the past 38 years, as I...
Poehler was No. 7 out of the seven honorees who were feted Thursday night at the Beverly Wilshire hotel in Beverly Hills with the annual TV achievement kudos handed out by the National Assn. of Television Program Executives. The Tartikoff Awards are typically held during the NATPE conference in January, but that annual tradition was tabled this year by the Covid upsurge.
Poehler, the multi-hyphenate “Parks and Recreation” star who has become a prolific producer, made the most of her closing slot. She opened with a wry reference to an earlier snafu when presenter Connie Chung noted that the wrong speech was loaded on to the teleprompter as she delivered her remarks about Tartikoff honoree Maury Povich, who is also her husband.
“For the past 38 years, as I...
- 6/3/2022
- by Cynthia Littleton
- Variety Film + TV
Jeff Sagansky, a media investor and producer and former top entertainment executive, is sounding the alarm on the adverse impact the now prevalent “cost plus” business model has had on profit participation. The setup, originally introduced by Netflix and subsequently adopted by most major streamers and TV studios, reverses a decades-long practice of above-the-line talent on hit series being handsomely rewarded with a cut of the profits that continues to generate income for decades after the show’s creation.
In a blistering speech as part of a NATPE event Wednesday, Sagansky paints a bleak picture of what is to come if no one stands up to the new paradigm, including cratering buyout premiums and disappearing big overall deals, and issues a rallying cry for producers, writers, actors and agents to go to the Justice Department and Congress “to argue against this anti-competitive behavior” in an effort to “level the playing...
In a blistering speech as part of a NATPE event Wednesday, Sagansky paints a bleak picture of what is to come if no one stands up to the new paradigm, including cratering buyout premiums and disappearing big overall deals, and issues a rallying cry for producers, writers, actors and agents to go to the Justice Department and Congress “to argue against this anti-competitive behavior” in an effort to “level the playing...
- 6/2/2022
- by Nellie Andreeva
- Deadline Film + TV
Jaya Entertainment is developing a slate of series in India and Israel.
Sk Global is joining forces with independent US TV producer Kapital Entertainment, Jeff Sagansky and Florence Sloan in Jaya Entertainment, a new venture to develop, produce and finance international TV series, initially in India and Israel.
Kilian Kerwin, formerly executive vice president of international production at Sk Global, the US-Asia independent best known as producer of Crazy Rich Asians, will head Jaya’s day-to-day operations.
Jaya said it is already in development on a slate of series in India and Israel but did not reveal details. In most...
Sk Global is joining forces with independent US TV producer Kapital Entertainment, Jeff Sagansky and Florence Sloan in Jaya Entertainment, a new venture to develop, produce and finance international TV series, initially in India and Israel.
Kilian Kerwin, formerly executive vice president of international production at Sk Global, the US-Asia independent best known as producer of Crazy Rich Asians, will head Jaya’s day-to-day operations.
Jaya said it is already in development on a slate of series in India and Israel but did not reveal details. In most...
- 5/24/2022
- by John Hazelton
- ScreenDaily
Exclusive: Aaron Kaplan’s Kapital Entertainment, Crazy Rich Asians producer Sk Global, Jeff Sagansky and Florence Sloan have teamed to launch Jaya Entertainment, a content company focused on developing, producing and financing premium international series. Top TV producer Kaplan, prominent media investor Sagansky, Sloan and Sk Global (via Ivanhoe Pictures) previously partnered in a Mumbai-based venture that produces the hit Hindi-language Netflix series Delhi Crime, which won the International Emmy for Best Drama Series and returns for a second season on the streamer later this year.
Kilian Kerwin, formerly EVP International Production at Sk Global, will helm the day-to-day operations of Jaya, which will initially focus its efforts in India and Israel.
In the burgeoning Indian market, where the players already have a foothold, the company has six to seven projects in very active development, with four writers rooms up and running.
In most cases, Jaya Entertainment, named after the...
Kilian Kerwin, formerly EVP International Production at Sk Global, will helm the day-to-day operations of Jaya, which will initially focus its efforts in India and Israel.
In the burgeoning Indian market, where the players already have a foothold, the company has six to seven projects in very active development, with four writers rooms up and running.
In most cases, Jaya Entertainment, named after the...
- 5/23/2022
- by Nellie Andreeva
- Deadline Film + TV
David Letterman’s Emmy-nominated talk show series “My Next Guest Needs No Introduction with David Letterman” is set to return on May 20, Netflix announced on Thursday.
The fourth season of the Netflix original series will feature six episodes and a new selection of guests, including Cardi B, Kevin Durant, Billie Eilish, Julia Louis-Dreyfus, Ryan Reynolds and Will Smith.
The show features one-on-one conversations with the legendary talk show host and the celebrity guest inside and outside a studio setting. Season four comes after a long absence from the series, as season three premiered almost 18 months ago in October of 2020.
Notably, the streamer has announced that all of the episodes were filmed prior to March 2022; that means that there will be no talk of the infamous Will Smith-Chris Rock Oscars slap that occurred on March 27.
Letterman, who is renowned for his 33 years as a late night host at NBC and CBS,...
The fourth season of the Netflix original series will feature six episodes and a new selection of guests, including Cardi B, Kevin Durant, Billie Eilish, Julia Louis-Dreyfus, Ryan Reynolds and Will Smith.
The show features one-on-one conversations with the legendary talk show host and the celebrity guest inside and outside a studio setting. Season four comes after a long absence from the series, as season three premiered almost 18 months ago in October of 2020.
Notably, the streamer has announced that all of the episodes were filmed prior to March 2022; that means that there will be no talk of the infamous Will Smith-Chris Rock Oscars slap that occurred on March 27.
Letterman, who is renowned for his 33 years as a late night host at NBC and CBS,...
- 5/5/2022
- by Carson Burton and Sasha Urban
- Variety Film + TV
NATPE has revealed the winners of its 18th annual Brandon Tartikoff Legacy Awards, which will take place in Los Angeles for the first time, on June 2 at the Beverly Wilshire hotel.
This year’s winners include actress and “The View” host Whoopi Goldberg, star and producer Amy Poehler, retiring talk show personality Maury Povich, writer-director Alex Kurtzman, Warner Bros. Television Group chairman Channing Dungey, producer and former network exec Jeff Sagansky and actor-producer-director William Shatner.
The Tartikoff awards are normally held in January at the NATPE convention in January, but this year’s event was scrapped due to the rising rate of Covid-19 cases at the start of the year. Award recipients are honored for their “extraordinary passion, leadership, independence and vision through their diverse work in being a part of the creation and distribution of content for the world’s traditional and digital marketplaces,” according to NATPE. The awards...
This year’s winners include actress and “The View” host Whoopi Goldberg, star and producer Amy Poehler, retiring talk show personality Maury Povich, writer-director Alex Kurtzman, Warner Bros. Television Group chairman Channing Dungey, producer and former network exec Jeff Sagansky and actor-producer-director William Shatner.
The Tartikoff awards are normally held in January at the NATPE convention in January, but this year’s event was scrapped due to the rising rate of Covid-19 cases at the start of the year. Award recipients are honored for their “extraordinary passion, leadership, independence and vision through their diverse work in being a part of the creation and distribution of content for the world’s traditional and digital marketplaces,” according to NATPE. The awards...
- 4/21/2022
- by Sasha Urban
- Variety Film + TV
Whoopi Goldberg, William Shatner, Amy Poehler, Alex Kurtzman, Maury Povich, Warner Bros Television Group chairman Channing Dungey and producer and media investor Jeff Sagansky have been selected as the recipients of NATPE’s 2022 Tartikoff Legacy Awards. The awards, in their 18th year, are given to acknowledge a select group of television professionals who have demonstrated the highest degree of excellence in their field.
The honors will be bestowed June 2 at a gala at the Beverly Wilshire, the first year of the awards ceremony moving from the organization’s NATPE Miami Marketplace and Conference. It is now part of the NATPE Returns series of events taking place this year in New York, L.A. and Budapest.
One of these events, NATPE Hollywood, is taking place the day before the gala at W Hollywood, with the Hungary event to run June 27-30.
“Bringing the Brandon Tartikoff Legacy Award to Los Angeles for...
The honors will be bestowed June 2 at a gala at the Beverly Wilshire, the first year of the awards ceremony moving from the organization’s NATPE Miami Marketplace and Conference. It is now part of the NATPE Returns series of events taking place this year in New York, L.A. and Budapest.
One of these events, NATPE Hollywood, is taking place the day before the gala at W Hollywood, with the Hungary event to run June 27-30.
“Bringing the Brandon Tartikoff Legacy Award to Los Angeles for...
- 4/21/2022
- by Patrick Hipes
- Deadline Film + TV
Lionsgate has named longtime media executive, investor and successful Spac specialist Harry Sloan to its board of directors effective immediately. It said Sloan qualifies as an “independent” director of the company under the New York Stock Exchange listing standards. He has not yet been appointed to serve as a member of any Board committee. He replaces David Zaslav, who exited the board in May after the Discovery-WarnerMedia merger was announced. It described its newest board member as “an experienced founder, public company chief executive officer and a leading investor in the media, entertainment and technology industries.” Since 2011, he has co-founded seven special purpose acquisition companies (SPACs) with partners, including Jeff Sagansky and Eli Baker, raising over $4 billion in gross proceeds. All his SPACs have completed business combinations from sports betting giant DraftKings to mobile gaming company Skillz. Most recently, Sloane’s Soaring Eagle Acquisition Corp. raised $1.725 billion in its initial...
- 12/16/2021
- by Jill Goldsmith
- Deadline Film + TV
Leading Hollywood dealmakers and M&a experts Kevin Mayer, Tom Staggs, Jeff Sagansky and Faiza Saeed will join TheWrap editor-in-chief Sharon Waxman at TheGrill 2021, presented by WrapPRO, on September 29-30.
“Acquire or Die: Navigating the Era of Mega-Mergers & Spacs” will address the explosion of Hollywood mergers and the ramifications of ongoing industry consolidation. After WarnerMedia and Discovery, Amazon and MGM and the rise of special purpose acquisition companies (Spacs), is this the path to sustainability?
Mayer and Staggs recently announced plans to acquire Reese Witherspoon’s Hello Sunshine at a $900 million valuation as part of their yet-unnamed media venture, backed by Blackstone. Spac pioneer Sagansky has co-founded seven blank-check companies within the last 10 years, making him a household name within the industry. Saeed is one of the industry’s go-to M&a advisors, having working with clients including Disney, Viacom and Time Warner.
For over a decade, TheWrap’s Grill...
“Acquire or Die: Navigating the Era of Mega-Mergers & Spacs” will address the explosion of Hollywood mergers and the ramifications of ongoing industry consolidation. After WarnerMedia and Discovery, Amazon and MGM and the rise of special purpose acquisition companies (Spacs), is this the path to sustainability?
Mayer and Staggs recently announced plans to acquire Reese Witherspoon’s Hello Sunshine at a $900 million valuation as part of their yet-unnamed media venture, backed by Blackstone. Spac pioneer Sagansky has co-founded seven blank-check companies within the last 10 years, making him a household name within the industry. Saeed is one of the industry’s go-to M&a advisors, having working with clients including Disney, Viacom and Time Warner.
For over a decade, TheWrap’s Grill...
- 8/13/2021
- by Emily Vogel
- The Wrap
Despite shakiness in the overall sports economy, with declining TV ratings and event revenue due to Covid-19, DraftKings is wagering on the continued health of the sports betting business.
The online gaming firm reported fourth-quarter results ahead of Wall Street forecasts, with revenue of $322 million and a loss of 24 cents per share on an adjusted basis. Comparisons with the same period in 2019 are inexact because the company formed and went public last April. On a pro forma basis, the company said, the revenue figure rose 98%. Wall Street analysts had expected a loss of 47 cents a share.
Investors hailed the news, sending DraftKings shares up 5% in early trading, to $60.77 a share.
The company reported having 1.5 million monthly unique paying customers during each month in the quarter ending December 31, up 44% from the same period a year earlier.
In a sign of faith in sports betting, especially as more states continue to legalize...
The online gaming firm reported fourth-quarter results ahead of Wall Street forecasts, with revenue of $322 million and a loss of 24 cents per share on an adjusted basis. Comparisons with the same period in 2019 are inexact because the company formed and went public last April. On a pro forma basis, the company said, the revenue figure rose 98%. Wall Street analysts had expected a loss of 47 cents a share.
Investors hailed the news, sending DraftKings shares up 5% in early trading, to $60.77 a share.
The company reported having 1.5 million monthly unique paying customers during each month in the quarter ending December 31, up 44% from the same period a year earlier.
In a sign of faith in sports betting, especially as more states continue to legalize...
- 2/26/2021
- by Dade Hayes
- Deadline Film + TV
Forest Road Acquisition Corp., a special purpose acquisition company (or Spac) backed by the eponymous entertainment finance firm with a Hollywood-heavy roster of advisors has found its target, announcing plans to buy digital fitness specialist Beachbody Company and take it public.
The transaction involves a three-way merger between the Forest Road Spac, Myx Fitness Holdings, an at-home connected fitness platform, and Santa Monica-based Beachbody. The deal values the combined business at $2.9 billion and is expected to add over $420 million of cash to the balance sheet.
This is one of the first high-profile entertainment Spac-backed acquisitions by an explosion of financial vehicles also called “blank check” companies. Backers, in this case Forest Road, assemble seasoned executives and advisors, create a Spac, take it public and start looking for an operating company to acquire. Merging with a Spac is a faster, easier way for a private company to go public.
“When we raised our Spac,...
The transaction involves a three-way merger between the Forest Road Spac, Myx Fitness Holdings, an at-home connected fitness platform, and Santa Monica-based Beachbody. The deal values the combined business at $2.9 billion and is expected to add over $420 million of cash to the balance sheet.
This is one of the first high-profile entertainment Spac-backed acquisitions by an explosion of financial vehicles also called “blank check” companies. Backers, in this case Forest Road, assemble seasoned executives and advisors, create a Spac, take it public and start looking for an operating company to acquire. Merging with a Spac is a faster, easier way for a private company to go public.
“When we raised our Spac,...
- 2/10/2021
- by Jill Goldsmith
- Deadline Film + TV
Top executives at Group Nine Media are launching a Spac, or special purpose acquisition vehicle, to go public and hunt for a digital media business to buy. They plan to merge that company, whatever it may be, with with Group Nine, owner of TheDodo, NowThis, Thrillist, Seeker and PopSugar.
SPACs, called ‘blank check’ entities, assemble managers, raise money in a public offering and use the cash to buy actual companies, which then inherit the Spac’s stock exchange listing without the stress of a formal IPO. The Group Nine move is testament to the growing allure of SPACs that now number in the hundreds and continued consolidation in digital media.
Its Spac, the Group Nine Acquisition Corp. (Gnac) filled with SEC for an IPO to raise an estimated $230 million to “pursue business combination opportunities with companies operating in the digital media and adjacent industries including, but not limited to, the social media,...
SPACs, called ‘blank check’ entities, assemble managers, raise money in a public offering and use the cash to buy actual companies, which then inherit the Spac’s stock exchange listing without the stress of a formal IPO. The Group Nine move is testament to the growing allure of SPACs that now number in the hundreds and continued consolidation in digital media.
Its Spac, the Group Nine Acquisition Corp. (Gnac) filled with SEC for an IPO to raise an estimated $230 million to “pursue business combination opportunities with companies operating in the digital media and adjacent industries including, but not limited to, the social media,...
- 12/22/2020
- by Jill Goldsmith
- Deadline Film + TV
Entertainment finance firm Forest Road and a team of A-list media insiders from Tom Staggs to Kevin Mayer have closed a $300 million IPO of a new Spac – a special purpose acquisition vehicle they’ll use to buy a private company in media, tech or telecom.
SPACs, which are exploding, are basically empty publicly traded vessels with investors and, in this case, seasoned managers, that go public and find private companies to merge with – taking them public in turn in a process that’s faster, easier and cheaper than a traditional initial public offering. Ideally the SPACs offer industry expertise in the transition to public company status and beyond.
Units of the Forest Road Spac now trade on the New York Stock Exchange under the ticker symbol Frx and can start to approach merger candidates to discuss deals. Forest Road chief executive Zachary Tarica, who is also chairman and chief investment officer of the Spac,...
SPACs, which are exploding, are basically empty publicly traded vessels with investors and, in this case, seasoned managers, that go public and find private companies to merge with – taking them public in turn in a process that’s faster, easier and cheaper than a traditional initial public offering. Ideally the SPACs offer industry expertise in the transition to public company status and beyond.
Units of the Forest Road Spac now trade on the New York Stock Exchange under the ticker symbol Frx and can start to approach merger candidates to discuss deals. Forest Road chief executive Zachary Tarica, who is also chairman and chief investment officer of the Spac,...
- 11/30/2020
- by Jill Goldsmith
- Deadline Film + TV
Cindy Holland, whose departure from Netflix after an 18-year run this year highlighted the changes rippling through the streaming giant, has joined the board of a newly formed entity called Horizon Acquisition Corp II.
The November 17 appointment was disclosed Monday in an SEC filing. Holland left Netflix in September as Bela Bajaria became global head of TV. Given her pedigree at Netflix, where she worked closely with co-ceo Ted Sarandos to build the massive content operation, her next moves in entertainment have been the subject of active speculation.
By design, though, the exact nature of Horizon’s path is not clear yet. The company, which had a $544 million initial public offering on the New York Stock Exchange in August, is classified as a special-purpose acquisition company, or Spac. Also known in financial circles as “blank check” companies, SPACs essentially are vehicles for taking other businesses public. They have become popular...
The November 17 appointment was disclosed Monday in an SEC filing. Holland left Netflix in September as Bela Bajaria became global head of TV. Given her pedigree at Netflix, where she worked closely with co-ceo Ted Sarandos to build the massive content operation, her next moves in entertainment have been the subject of active speculation.
By design, though, the exact nature of Horizon’s path is not clear yet. The company, which had a $544 million initial public offering on the New York Stock Exchange in August, is classified as a special-purpose acquisition company, or Spac. Also known in financial circles as “blank check” companies, SPACs essentially are vehicles for taking other businesses public. They have become popular...
- 11/23/2020
- by Dade Hayes
- Deadline Film + TV
Shares in DraftKings gained in early trading after the major sports betting outfit raised its 2020 revenue guidance and reported third-quarter earnings that exceeded Wall Street analysts’ expectations.
The stock is below its late-September peak of $64.19, but climbed 7% to pass $44 amid optimism that the return of sports would see the company through to a less pandemic-dominated 2021.
DraftKings now expects revenue this year of $540 million to $560 million, up more than 25% from 2019 pro-forma levels and higher than its previous guidance of $500 million to $540 million. The company had its IPO earlier this year after a three-way merger engineered via a special purpose acquisition company, or Spac, led by Hollywood veterans Harry Sloan and Jeff Sagansky. Sloan serves as chairman of DraftKings. The combination with the two other firms, Diamond Eagle and SBTech, means that quarterly results are reported on a pro-forma basis.
Revenue in the quarter climbed 42% from prior-year levels to reach $133 million, ahead...
The stock is below its late-September peak of $64.19, but climbed 7% to pass $44 amid optimism that the return of sports would see the company through to a less pandemic-dominated 2021.
DraftKings now expects revenue this year of $540 million to $560 million, up more than 25% from 2019 pro-forma levels and higher than its previous guidance of $500 million to $540 million. The company had its IPO earlier this year after a three-way merger engineered via a special purpose acquisition company, or Spac, led by Hollywood veterans Harry Sloan and Jeff Sagansky. Sloan serves as chairman of DraftKings. The combination with the two other firms, Diamond Eagle and SBTech, means that quarterly results are reported on a pro-forma basis.
Revenue in the quarter climbed 42% from prior-year levels to reach $133 million, ahead...
- 11/13/2020
- by Dade Hayes
- Deadline Film + TV
CuriosityStream ended its first day of trading on the Nasdaq on Thursday at $11.20 a share, up 11% in its initial public offering.
Founded by Discovery founder John Hendricks in 2015, the company runs a streaming service focused on factual programming, including shows about nature and history.
In August, CuriosityStream said it would go public via a special purpose acquisition group, or Spac, an investment vehicle known in financial circles as a “blank-check” company. The streaming company was acquired by a Spac called Software Acquisition Group.
CuriosityStream has reported having 13 million subscribers in 175-plus countries. Its price point is decidedly modest in the subscription streaming arena, at $2.99 a month or $19.99 a year.
CEO Clint Stinchcomb, who had a long run as an executive at Discovery, told Deadline the company’s churn is competitive with that of Netflix at the low end of the spectrum, below 3%. “We really see ourselves as a value, coming...
Founded by Discovery founder John Hendricks in 2015, the company runs a streaming service focused on factual programming, including shows about nature and history.
In August, CuriosityStream said it would go public via a special purpose acquisition group, or Spac, an investment vehicle known in financial circles as a “blank-check” company. The streaming company was acquired by a Spac called Software Acquisition Group.
CuriosityStream has reported having 13 million subscribers in 175-plus countries. Its price point is decidedly modest in the subscription streaming arena, at $2.99 a month or $19.99 a year.
CEO Clint Stinchcomb, who had a long run as an executive at Discovery, told Deadline the company’s churn is competitive with that of Netflix at the low end of the spectrum, below 3%. “We really see ourselves as a value, coming...
- 10/15/2020
- by Dade Hayes
- Deadline Film + TV
Exclusive: Vanna Krantz, chief financial officer of Disney Streaming Services, will be named to the board of Skillz, the mobile e-sports platform that’s completing its merger with Harry Sloan’s Flying Eagle Acquisition Corp. Spac to become a public company.
Kranz, previously CFO of Disney-acquired BAMTech Media, is Skillz’ first director appointment as the company builds its board and will bring streaming experience to the future viewership of e-sports on the platform.
The Skillz deal, announced in September, is expected to close in the current fourth quarter. Krantz will joins the board once that happens.
Flying Eagle is a Special Purpose Acquisition Vehicle, or Spac. These are also called “blank check” entities that raise cash from investors, go public and look for companies to buy – meaning the acquisition targets also become public companies but in a process that’s faster and easier than a traditional initial public offering.
Skillz...
Kranz, previously CFO of Disney-acquired BAMTech Media, is Skillz’ first director appointment as the company builds its board and will bring streaming experience to the future viewership of e-sports on the platform.
The Skillz deal, announced in September, is expected to close in the current fourth quarter. Krantz will joins the board once that happens.
Flying Eagle is a Special Purpose Acquisition Vehicle, or Spac. These are also called “blank check” entities that raise cash from investors, go public and look for companies to buy – meaning the acquisition targets also become public companies but in a process that’s faster and easier than a traditional initial public offering.
Skillz...
- 10/13/2020
- by Jill Goldsmith
- Deadline Film + TV
DraftKings shares sank nearly 7% after the sports betting firm offered weak guidance for the third quarter and indicated pressure on revenue from favorites dominating underdogs in NFL games.
The guidance and disclosures came in an SEC filing in which the company announced that it was selling 16 million shares of Class A stock, with owners of another 16 million also selling.
Shares in DraftKings dropped to nearly $59 a share in mid-day trading Monday. They had run up to a record high of $64.19 last weeks as investors cheered the return of sports, which have managed through myriad Covid-19 complications to offer a sudden spate of options for wagering and TV viewing.
Despite a surge in customers and transactions, total revenue should come in at $131 million to $133 million for the quarter, the company said, which would match expectations from Wall Street analysts.
A hit to revenue came from the NFL. The company disclosed a...
The guidance and disclosures came in an SEC filing in which the company announced that it was selling 16 million shares of Class A stock, with owners of another 16 million also selling.
Shares in DraftKings dropped to nearly $59 a share in mid-day trading Monday. They had run up to a record high of $64.19 last weeks as investors cheered the return of sports, which have managed through myriad Covid-19 complications to offer a sudden spate of options for wagering and TV viewing.
Despite a surge in customers and transactions, total revenue should come in at $131 million to $133 million for the quarter, the company said, which would match expectations from Wall Street analysts.
A hit to revenue came from the NFL. The company disclosed a...
- 10/5/2020
- by Dade Hayes
- Deadline Film + TV
Flying Eagle Acquisition Corp., the special purpose acquisition company controlled by former MGM CEO Harry Sloan and CBS entertainment president Jeff Sagansky, has found a merger partner.
The Spac will merge with Skillz Inc., a mobile gaming platform, making it a public company on the New York Stock Exchange.
The deal values Skillz at $3.5 billion, with Flying Eagle contributing its $690 million, and other investors including Wellington Management Company, Fidelity Management & Research Company, LLC, Franklin Templeton, and Neuberger Berman committing an additional $159 million. Skillz expects to have about $250 million in cash on its balance sheet after ...
The Spac will merge with Skillz Inc., a mobile gaming platform, making it a public company on the New York Stock Exchange.
The deal values Skillz at $3.5 billion, with Flying Eagle contributing its $690 million, and other investors including Wellington Management Company, Fidelity Management & Research Company, LLC, Franklin Templeton, and Neuberger Berman committing an additional $159 million. Skillz expects to have about $250 million in cash on its balance sheet after ...
Flying Eagle Acquisition Corp., the special purpose acquisition company controlled by former MGM CEO Harry Sloan and CBS entertainment president Jeff Sagansky, has found a merger partner.
The Spac will merge with Skillz Inc., a mobile gaming platform, making it a public company on the New York Stock Exchange.
The deal values Skillz at $3.5 billion, with Flying Eagle contributing its $690 million, and other investors including Wellington Management Company, Fidelity Management & Research Company, LLC, Franklin Templeton, and Neuberger Berman committing an additional $159 million. Skillz expects to have about $250 million in cash on its balance sheet after ...
The Spac will merge with Skillz Inc., a mobile gaming platform, making it a public company on the New York Stock Exchange.
The deal values Skillz at $3.5 billion, with Flying Eagle contributing its $690 million, and other investors including Wellington Management Company, Fidelity Management & Research Company, LLC, Franklin Templeton, and Neuberger Berman committing an additional $159 million. Skillz expects to have about $250 million in cash on its balance sheet after ...
Michael Jordan, the NBA immortal who is chairman of the Charlotte Hornets, has taken an equity stake in sports betting firm DraftKings and become a special advisor to the company’s board of directors.
In a press release, the company said Jordan will be “providing guidance and strategic advice to the board of directors on key business initiatives.” Terms of his investment were not disclosed.
Jordan has been a more visible figure in 2020 than in just about any time during his two decades of retirement. His legacy captivated viewers during Covid-19 when ESPN aired The Last Dance. More recently, as NBA players took a stand for social justice by refusing to play games, he played a crucial role in facilitating talks between players and owners.
The Jordan news sent DraftKings stock up more than 7% to $39.60 in early trading Wednesday.
DraftKings, founded eight years ago, went public in April after a merger brought together Draft Kings,...
In a press release, the company said Jordan will be “providing guidance and strategic advice to the board of directors on key business initiatives.” Terms of his investment were not disclosed.
Jordan has been a more visible figure in 2020 than in just about any time during his two decades of retirement. His legacy captivated viewers during Covid-19 when ESPN aired The Last Dance. More recently, as NBA players took a stand for social justice by refusing to play games, he played a crucial role in facilitating talks between players and owners.
The Jordan news sent DraftKings stock up more than 7% to $39.60 in early trading Wednesday.
DraftKings, founded eight years ago, went public in April after a merger brought together Draft Kings,...
- 9/2/2020
- by Dade Hayes
- Deadline Film + TV
Shares in DraftKings fell 6% Friday after it disclosed mixed second-quarter results and the IRS said it plans to impose an excise tax on daily fantasy betting.
The firm reported a loss of 55 cents a share for the quarter ending June 30, which was wider than the loss of 15 cents in the year-ago quarter and also bigger than the 20 cents expected by Wall Street analysts. Revenue, though, beat estimates, rising to $70.9 million from $57.4 million in the 2019 quarter.
The stock slipped below $34 in the final minutes of the session, on twice the normal trading volume.
In a memo, the IRS said firms like DraftKings — not individual daily fantasy players — would have to pay a tax on such wagering. Daily fantasy betting totaled $3.2 billion across the industry in 2018, which would have yielded $8 million in taxes under the newly imposed setup.
Daily fantasy is a more accessible form of betting, using some of the rudiments of season-long fantasy leagues,...
The firm reported a loss of 55 cents a share for the quarter ending June 30, which was wider than the loss of 15 cents in the year-ago quarter and also bigger than the 20 cents expected by Wall Street analysts. Revenue, though, beat estimates, rising to $70.9 million from $57.4 million in the 2019 quarter.
The stock slipped below $34 in the final minutes of the session, on twice the normal trading volume.
In a memo, the IRS said firms like DraftKings — not individual daily fantasy players — would have to pay a tax on such wagering. Daily fantasy betting totaled $3.2 billion across the industry in 2018, which would have yielded $8 million in taxes under the newly imposed setup.
Daily fantasy is a more accessible form of betting, using some of the rudiments of season-long fantasy leagues,...
- 8/14/2020
- by Dade Hayes
- Deadline Film + TV
Seasoned executive Paul Rainey has joined Deadline’s parent company, Penske Media Corp., as EVP of Operations and Finance.
He will work across Pmc’s portfolio of award-winning brands, which also includes Rolling Stone, Variety, Robb Report, She Media, ARTnews and Wwd. He will be based in the company’s LA office, reporting to Pmc Chairman and CEO Jay Penske.
“We are very fortunate to have found someone of Paul Rainey’s caliber and experience to lead a core group of the Penske Media brands,” Penske said. “Paul’s wide breadth of expertise in finance and operations will continue to help us thoughtfully scale our businesses for the long term.”
An accomplished executive with more than 20 years of financial leadership experience in several business sectors, Rainey will play a senior leadership role in decision-making. He will provide strategic financial input to senior Pmc management across corporate as well as across various lines of business.
He will work across Pmc’s portfolio of award-winning brands, which also includes Rolling Stone, Variety, Robb Report, She Media, ARTnews and Wwd. He will be based in the company’s LA office, reporting to Pmc Chairman and CEO Jay Penske.
“We are very fortunate to have found someone of Paul Rainey’s caliber and experience to lead a core group of the Penske Media brands,” Penske said. “Paul’s wide breadth of expertise in finance and operations will continue to help us thoughtfully scale our businesses for the long term.”
An accomplished executive with more than 20 years of financial leadership experience in several business sectors, Rainey will play a senior leadership role in decision-making. He will provide strategic financial input to senior Pmc management across corporate as well as across various lines of business.
- 8/11/2020
- by Dade Hayes
- Deadline Film + TV
Rising unscripted streaming service CuriosityStream plans to go public as a result of a reverse merger with Software Acquisition Group.
The deal has an enterprise value of about $331 million and an equity value of $512 million.
CuriosityStream chairman John Hendricks, founder of the Discovery Channel, and Software Acquisition Group chairman Jonathan Huberman made the announcement Tuesday. Hendricks will remain chairman of the new entity, whose management team is expected to remain intact, with Clint Stinchcomb continuing to serve as president and CEO.
Software Acquisition Group is a special purpose acquisition company, or Spac. It raised about $150 million via an initial public offering in November 2019.
SPACs, known in financial circles as “blank check” companies, are not a new phenomenon and have ebbed and flowed in the market over two-plus decades based on larger economic trends. They use proceeds from their own Ipo to acquire other targets, in theory creating instant value. Hollywood...
The deal has an enterprise value of about $331 million and an equity value of $512 million.
CuriosityStream chairman John Hendricks, founder of the Discovery Channel, and Software Acquisition Group chairman Jonathan Huberman made the announcement Tuesday. Hendricks will remain chairman of the new entity, whose management team is expected to remain intact, with Clint Stinchcomb continuing to serve as president and CEO.
Software Acquisition Group is a special purpose acquisition company, or Spac. It raised about $150 million via an initial public offering in November 2019.
SPACs, known in financial circles as “blank check” companies, are not a new phenomenon and have ebbed and flowed in the market over two-plus decades based on larger economic trends. They use proceeds from their own Ipo to acquire other targets, in theory creating instant value. Hollywood...
- 8/11/2020
- by Dade Hayes
- Deadline Film + TV
DraftKings reported a 30% upswing in first-quarter revenue from its core sports betting operations as wider legalization offset the impact of Covid-19.
Revenue hit $88.5 million as net losses widened to $68.7 million from $29.6 million in the year-ago quarter.
The company is newly consolidated, so the numbers stem from previously separate technology and wagering operations, making year-to-year comparisons inexact. On April 24, it went public after closing a three-way merger involving Draft Kings, SBTech and Diamond Eagle Acquisition Corp. The last of the three was founded by Harry Sloan, onetime CEO of MGM, and Jeff Sagansky, former CBS entertainment chief. Sloan is now vice chairman of DraftKings.
Major pro and college sports have been dark since mid-March, but in its earnings release DraftKings said new product offerings and an increase in states allowing betting has helped it improve its financial position. Without major sports like the NBA, NHL and Major League Baseball and the loss of Ncaa March Madness,...
Revenue hit $88.5 million as net losses widened to $68.7 million from $29.6 million in the year-ago quarter.
The company is newly consolidated, so the numbers stem from previously separate technology and wagering operations, making year-to-year comparisons inexact. On April 24, it went public after closing a three-way merger involving Draft Kings, SBTech and Diamond Eagle Acquisition Corp. The last of the three was founded by Harry Sloan, onetime CEO of MGM, and Jeff Sagansky, former CBS entertainment chief. Sloan is now vice chairman of DraftKings.
Major pro and college sports have been dark since mid-March, but in its earnings release DraftKings said new product offerings and an increase in states allowing betting has helped it improve its financial position. Without major sports like the NBA, NHL and Major League Baseball and the loss of Ncaa March Madness,...
- 5/15/2020
- by Dade Hayes
- Deadline Film + TV
Sports betting giant DraftKings has become a public company following approval of a merger with SBTech and Diamond Eagle Acquisition, the public acquisition vehicle headed by entertainment industry veterans Harry Sloan and Jeff Sagansky.
The stock opened Friday at $17.53 on the Nasdaq under the ticker symbol Dkng and rose nearly 11% to close at $19.45 a share.
Shareholders of Diamond Eagle Acquisition Corp. approved the merger Thursday with DraftKings, which describes itself as the only vertically integrated pure-play sports betting and online gaming company based in the United States.
“Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America,” said Jason Robins, co-founder and CEO of DraftKings. “By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTech’s proven technology platform, we will accelerate our innovation, growth and scale. I am confident that the new DraftKings will progress our goal of offering the best,...
The stock opened Friday at $17.53 on the Nasdaq under the ticker symbol Dkng and rose nearly 11% to close at $19.45 a share.
Shareholders of Diamond Eagle Acquisition Corp. approved the merger Thursday with DraftKings, which describes itself as the only vertically integrated pure-play sports betting and online gaming company based in the United States.
“Today marks another milestone for DraftKings and the future of digital sports entertainment and gaming in America,” said Jason Robins, co-founder and CEO of DraftKings. “By bringing together our leading consumer brand, data science expertise and industry-leading products with SBTech’s proven technology platform, we will accelerate our innovation, growth and scale. I am confident that the new DraftKings will progress our goal of offering the best,...
- 4/24/2020
- by Dave McNary
- Variety Film + TV
While Covid-19 has turned the lights out on college and pro sports for the time being, sports betting firm DraftKings went public Friday after closing a $3.3 billion, three-way merger with Hollywood ties.
The company’s shares rose more than 12% in early trading after opening at $17.53 on the Nasdaq under the ticker symbol Dkng. Founded eight years ago, the company has thrived on the shift toward legalized sports betting, in the wake of a Supreme Court ruling that has thus far enabled eight states to make it legal.
More from DeadlineJeff Sagansky & Harry Sloan Price Sixth Special-Purpose Ipo At $600MDraftKings To Go Public In $3.3B Merger With Diamond EagleWME Agent Jennifer Rudolph Walsh Shifts To New Role Focused On Live Events
The merger, which was announced last December and officially closed Thursday, brought together Draft Kings, SBTech and Diamond Eagle Acquisition Corp. The last of the three was founded by Hollywood veterans Harry Sloan,...
The company’s shares rose more than 12% in early trading after opening at $17.53 on the Nasdaq under the ticker symbol Dkng. Founded eight years ago, the company has thrived on the shift toward legalized sports betting, in the wake of a Supreme Court ruling that has thus far enabled eight states to make it legal.
More from DeadlineJeff Sagansky & Harry Sloan Price Sixth Special-Purpose Ipo At $600MDraftKings To Go Public In $3.3B Merger With Diamond EagleWME Agent Jennifer Rudolph Walsh Shifts To New Role Focused On Live Events
The merger, which was announced last December and officially closed Thursday, brought together Draft Kings, SBTech and Diamond Eagle Acquisition Corp. The last of the three was founded by Hollywood veterans Harry Sloan,...
- 4/24/2020
- by Dade Hayes
- Deadline Film + TV
Sports betting giant DraftKings has been cleared to become a public company following approval of a merger with SBTech and Diamond Eagle Acquisition, the public acquisition vehicle headed by industry veterans Harry Sloan and Jeff Sagansky.
Diamond Eagle Acquisition Corp., led by Sloan, announced Wednesday that it had received the approval from the Securities and Exchange Commission and is now moving to the final step in the process. An April 23 meeting has been scheduled for Deac shareholders to vote on the business combination with DraftKings and SBTech.
The deal is valued at $2.7 billion. Diamond Eagle will combine with DraftKings and SBTech to create what’s described as the only vertically integrated U.S. sports betting and online gaming company. Upon conclusion of the deal, the new DraftKings will become a publicly traded company under the new symbol of “Dkng” and become incorporated in Nevada. The new company will have more...
Diamond Eagle Acquisition Corp., led by Sloan, announced Wednesday that it had received the approval from the Securities and Exchange Commission and is now moving to the final step in the process. An April 23 meeting has been scheduled for Deac shareholders to vote on the business combination with DraftKings and SBTech.
The deal is valued at $2.7 billion. Diamond Eagle will combine with DraftKings and SBTech to create what’s described as the only vertically integrated U.S. sports betting and online gaming company. Upon conclusion of the deal, the new DraftKings will become a publicly traded company under the new symbol of “Dkng” and become incorporated in Nevada. The new company will have more...
- 4/15/2020
- by Dave McNary
- Variety Film + TV
Jeff Sagansky and former MGM boss Harry Sloan are launching Flying Eagle Acquisition Corp, the pair’s sixth special-purpose acquisition company. The new entity’s Ipo, launching Friday, has been priced at $10 per unit for 60,000,000 units, which each consisting of one share of Class A common stock and one-fourth of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per share.
The new units will be listed on the New York Stock Exchange under the ticker symbol “Feac.U.” The company said that after the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed under the symbols “Feac” and “Feac Ws,” respectively. The offering is expected to close March 10.
Sloan is listed as Chief Executive Officer and Chairman of the company, and Eli Baker is President, Chief Financial Officer and Secretary.
The new units will be listed on the New York Stock Exchange under the ticker symbol “Feac.U.” The company said that after the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed under the symbols “Feac” and “Feac Ws,” respectively. The offering is expected to close March 10.
Sloan is listed as Chief Executive Officer and Chairman of the company, and Eli Baker is President, Chief Financial Officer and Secretary.
- 3/6/2020
- by Patrick Hipes
- Deadline Film + TV
Veteran Hollywood executives Jeff Sagansky and Harry Sloan are launching Flying Eagle Acquisition Corp. with a $600 million initial public offering.
It’s the sixth public acquisition vehicle since 2011 launched by Sagansky and Sloan. These kind of acquisition companies have gained in popularity in recent years as a means for investors to participate in new players in the media and digital sector — particularly with rivals emerging to Netflix in streaming technology.
Their other companies — Diamond Eagle Acquisition, Global Eagle Acquisition, Silver Eagle Acquisition, Double Eagle Acquisition and Platinum Eagle — raised more than $2 billion for investment purposes. Sports betting giant DraftKings recently became a public company after setting a merger agreement with Diamond Eagle Acquisition.
The Ipo, announced late Thursday, was priced at $10 per unit for 60 million unit. Each unit issued in the initial public offering consists of one share of Class A common stock and one-fourth of one warrant to purchase...
It’s the sixth public acquisition vehicle since 2011 launched by Sagansky and Sloan. These kind of acquisition companies have gained in popularity in recent years as a means for investors to participate in new players in the media and digital sector — particularly with rivals emerging to Netflix in streaming technology.
Their other companies — Diamond Eagle Acquisition, Global Eagle Acquisition, Silver Eagle Acquisition, Double Eagle Acquisition and Platinum Eagle — raised more than $2 billion for investment purposes. Sports betting giant DraftKings recently became a public company after setting a merger agreement with Diamond Eagle Acquisition.
The Ipo, announced late Thursday, was priced at $10 per unit for 60 million unit. Each unit issued in the initial public offering consists of one share of Class A common stock and one-fourth of one warrant to purchase...
- 3/6/2020
- by Dave McNary
- Variety Film + TV
Sports betting giant DraftKings will go public as part of a $3.3 billion, three-way merger with SBTech and Diamond Eagle Acquisition Corp., a firm founded by Hollywood veterans Harry Sloan and Jeff Sagansky.
With legal restrictions around sports wagering beginning to ease across the country, DraftKings has been a leading participant in the rising tide of revenue from fantasy sports and mobile betting.
The combined company bills itself as the only vertically integrated sports betting and online gaming company in the U.S. After the merger closes in the first half of 2020, Diamond Eagle will change its name to DraftKings Inc., reincorporate in Nevada and remain listed on the Nasdaq under a new ticker symbol.
SBTech is a provider of technology for digital wagering. Diamond Eagle is a special purpose acquisition company, one of several publicly traded SPACs launched by Sagansky and Sloan. Sagansky’s career has included stints as CBS entertainment president,...
With legal restrictions around sports wagering beginning to ease across the country, DraftKings has been a leading participant in the rising tide of revenue from fantasy sports and mobile betting.
The combined company bills itself as the only vertically integrated sports betting and online gaming company in the U.S. After the merger closes in the first half of 2020, Diamond Eagle will change its name to DraftKings Inc., reincorporate in Nevada and remain listed on the Nasdaq under a new ticker symbol.
SBTech is a provider of technology for digital wagering. Diamond Eagle is a special purpose acquisition company, one of several publicly traded SPACs launched by Sagansky and Sloan. Sagansky’s career has included stints as CBS entertainment president,...
- 12/23/2019
- by Dade Hayes
- Deadline Film + TV
Harry Sloan, known in Hollywood for, among other things, leading MGM in the 2000s, and former CBS executive Jeff Sagansky, have priced the initial public offering of their fifth public acquisition vehicle.
Diamond Eagle Acquisition Corp., to be listed on the Nasdaq Capital Market, will aim to raise $400 million, with plans to invest it in companies in technology, media and other sectors. Each unit issued in the Ipo consists of one share of Class A common stock and one-third of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per whole share.
While it is not under the same microscope, the announcement of Sloan and Sagansky’s latest Ipo plan comes on the same day Uber held a high-profile but disappointing debut as a public company. Shares closed at $41.57, down 8% in an unusual dip for a new issue, which had already been in a conservatively priced initial range.
Diamond Eagle Acquisition Corp., to be listed on the Nasdaq Capital Market, will aim to raise $400 million, with plans to invest it in companies in technology, media and other sectors. Each unit issued in the Ipo consists of one share of Class A common stock and one-third of one warrant to purchase one share of Class A common stock at an exercise price of $11.50 per whole share.
While it is not under the same microscope, the announcement of Sloan and Sagansky’s latest Ipo plan comes on the same day Uber held a high-profile but disappointing debut as a public company. Shares closed at $41.57, down 8% in an unusual dip for a new issue, which had already been in a conservatively priced initial range.
- 5/10/2019
- by Dade Hayes
- Deadline Film + TV
Veteran Hollywood executives Jeff Sagansky and Harry Sloan are launching Diamond Eagle Acquisition Corp. with a $400 million initial public offering.
Diamond Eagle Acquisition is the fifth public acquisition vehicle since 2011 launched by Sagansky and Sloan. These kind of acquisition companies have gained in popularity in recent years as a means for investors to participate in new players in the media and digital sector — particularly with rivals emerging to Netflix in streaming technology.
Their other companies — Global Eagle Acquisition, Silver Eagle Acquisition, Double Eagle Acquisition and Platinum Eagle — raised a combined $1.6 billion for investment purposes. Diamond Eagle will be looking to invest in media companies as did Global Eagle, which moved into in-flight entertainment holdings, and Silver Eagle, which bought a 38% stake in Indian pay-tv service provider Videocon d2h.
The Ipo included 40 million units at $10 per unit. Each unit issued in the initial public offering consists of one share of...
Diamond Eagle Acquisition is the fifth public acquisition vehicle since 2011 launched by Sagansky and Sloan. These kind of acquisition companies have gained in popularity in recent years as a means for investors to participate in new players in the media and digital sector — particularly with rivals emerging to Netflix in streaming technology.
Their other companies — Global Eagle Acquisition, Silver Eagle Acquisition, Double Eagle Acquisition and Platinum Eagle — raised a combined $1.6 billion for investment purposes. Diamond Eagle will be looking to invest in media companies as did Global Eagle, which moved into in-flight entertainment holdings, and Silver Eagle, which bought a 38% stake in Indian pay-tv service provider Videocon d2h.
The Ipo included 40 million units at $10 per unit. Each unit issued in the initial public offering consists of one share of...
- 5/10/2019
- by Dave McNary
- Variety Film + TV
Netflix has acquired worldwide rights to the Indian anthology series “Delhi Crime.” The police procedural will have its world premiere in the Sundance Film Festival’s Indie Episodic Section on Tuesday, with its Netflix launch coming on March 22.
Written and directed by Richie Mehta, the seven-part first season is inspired by a 2012 Delhi gang rape case and was shot on location in New Delhi. “Delhi Crime” looks at the complexities of the case, including the scrutiny of the victim and the investigative team’s determination to bring the perpetrators to justice.
The cast is led by Shefali Shah and also stars Adil Hussain, Denzil Smith (“The Best Exotic Marigold Hotel”), Rasika Dugal, Rajesh Tailang and Yashaswini Dayama. It’s produced by Golden Karavan and Ivanhoe Pictures.
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“The making of Delhi Crime has...
Written and directed by Richie Mehta, the seven-part first season is inspired by a 2012 Delhi gang rape case and was shot on location in New Delhi. “Delhi Crime” looks at the complexities of the case, including the scrutiny of the victim and the investigative team’s determination to bring the perpetrators to justice.
The cast is led by Shefali Shah and also stars Adil Hussain, Denzil Smith (“The Best Exotic Marigold Hotel”), Rasika Dugal, Rajesh Tailang and Yashaswini Dayama. It’s produced by Golden Karavan and Ivanhoe Pictures.
Also Read: Olivia Colman-Walton Goggins Religious Drama 'Them That Follow' Goes to The Orchard and 1091 Media
“The making of Delhi Crime has...
- 1/29/2019
- by Ross A. Lincoln
- The Wrap
Exclusive: In a competitive situation, Netflix has landed Indian anthology drama series Delhi Crime, with what I hear is a two-season order. The series (original title Delhi Crime Story) hails from award winning Canadian-Indian auteur Richie Mehta; Golden Karavan, the Mumbai-based venture of leading TV producer Aaron Kaplan, media investor Jeff Sagansky, Florence Sloan, Apoorva Bakshi, Pooja Kohli and Sanjay Bachani; as well as John Penotti, Michael Hogan and Kilian Kerwin’s Ivanhoe Pictures (Crazy Rich Asians).
The deal was made on the eve of Delhi Crime‘s Jan. 29 world premiere at the 2019 Sundance Film Festival in the Indie Episodic category. I hear it covers the already produced seven-episode first season in addition to a second installment. Season 1 of the police-procedural thriller will debut on Netflix worldwide March 22.
Delhi Crime marks Kaplan’s 10th on-air series and second on Netflix, joining Santa Clarita Diet, which he executive produces through Kapital Entertainment.
The deal was made on the eve of Delhi Crime‘s Jan. 29 world premiere at the 2019 Sundance Film Festival in the Indie Episodic category. I hear it covers the already produced seven-episode first season in addition to a second installment. Season 1 of the police-procedural thriller will debut on Netflix worldwide March 22.
Delhi Crime marks Kaplan’s 10th on-air series and second on Netflix, joining Santa Clarita Diet, which he executive produces through Kapital Entertainment.
- 1/29/2019
- by Nellie Andreeva
- Deadline Film + TV
“Delhi Crime Story,” a seven-part series by Indo-Canadian writer-director Richie Mehta (“Siddharth”) will have its world premiere at Sundance in early 2019.
Mehta was at the 2nd International Film Festival and Awards, Macao (Iffam), in 2017 with “The Price of Tea,” one of the three auteur projects at the Iffam project market that year. Set in Beijing, the film will follow a Canadian man who falls for a Chinese woman over the course of a magical day only to discover that she is not what she seems.
Several parts of “Delhi Crime Story” will play as part of Sundance’s Indie Episodic strand. Based on the 2012 rape case in Delhi that shocked the world, the series centers on the heroic actions of the Delhi police. With the eyes of the world upon it, the investigation is led by one passionate female officer who was driven to find the perpetrators by the crime’s extreme brutality.
Mehta was at the 2nd International Film Festival and Awards, Macao (Iffam), in 2017 with “The Price of Tea,” one of the three auteur projects at the Iffam project market that year. Set in Beijing, the film will follow a Canadian man who falls for a Chinese woman over the course of a magical day only to discover that she is not what she seems.
Several parts of “Delhi Crime Story” will play as part of Sundance’s Indie Episodic strand. Based on the 2012 rape case in Delhi that shocked the world, the series centers on the heroic actions of the Delhi police. With the eyes of the world upon it, the investigation is led by one passionate female officer who was driven to find the perpetrators by the crime’s extreme brutality.
- 12/7/2018
- by Naman Ramachandran
- Variety Film + TV
“Designing Women” creator Linda Bloodworth-Thomason accused ousted CBS chief Les Moonves of sidelining her career for seven years in an guest column published by The Hollywood Reporter Wednesday.
In the piece titled “Designing Women’ Creator Goes Public With Les Moonves War: Not All Harassment Is Sexual,” Bloodworth-Thomason said Moonves — who resigned late Sunday from CBS, following a second wave of sexual misconduct accusations that came out that morning in another New Yorker piece penned by Ronan Farrow — changed her future at the network. She channeled her “finest Julia Sugarbaker” to tell him off.
Bloodworth-Thomason also calls out Moonves for misogynistic behavior and recounts one incident where “a famous actress” was “coming off the cancellation of her iconic detective show” and pitching a new one to Moonves when “he informed her that she was too old to be on his network.”
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In the piece titled “Designing Women’ Creator Goes Public With Les Moonves War: Not All Harassment Is Sexual,” Bloodworth-Thomason said Moonves — who resigned late Sunday from CBS, following a second wave of sexual misconduct accusations that came out that morning in another New Yorker piece penned by Ronan Farrow — changed her future at the network. She channeled her “finest Julia Sugarbaker” to tell him off.
Bloodworth-Thomason also calls out Moonves for misogynistic behavior and recounts one incident where “a famous actress” was “coming off the cancellation of her iconic detective show” and pitching a new one to Moonves when “he informed her that she was too old to be on his network.”
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- 9/12/2018
- by Jennifer Maas
- The Wrap
Whitney Wolfe Herd, founder and CEO of the social networking app Bumble, has been named to the board of directors for Imagine Entertainment, the company announced Tuesday. Wolfe Herd joins Tom Freston, Jeff Sagansky, Michael Lynton and Richard Rosenblatt as a non-voting member.
She will become the first woman on the company’s board.
Under Wolfe Herd’s vision, Bumble, a dating platform where women make the initial connection, has grown to over 35 million users in 160 countries. In 2016, Bumble launched Bumble Bff as a friend-finding feature and followed up on its success with Bumble Bizz for professional networking in 2017.
Also Read: Oscars Academy Has Doubled Non-White Members Since 2016, on Track to Double Women Too
“I deeply admire Whitney as an original thinker and visionary. She is a brilliant young entrepreneur who not only created an incredible global company, but also an empowered and strong community,” said Imagine co-chairman Brian Grazer in a statement.
She will become the first woman on the company’s board.
Under Wolfe Herd’s vision, Bumble, a dating platform where women make the initial connection, has grown to over 35 million users in 160 countries. In 2016, Bumble launched Bumble Bff as a friend-finding feature and followed up on its success with Bumble Bizz for professional networking in 2017.
Also Read: Oscars Academy Has Doubled Non-White Members Since 2016, on Track to Double Women Too
“I deeply admire Whitney as an original thinker and visionary. She is a brilliant young entrepreneur who not only created an incredible global company, but also an empowered and strong community,” said Imagine co-chairman Brian Grazer in a statement.
- 7/11/2018
- by Jeremy Fuster
- The Wrap
Whitney Wolfe Herd, the founder/CEO of the social networking app Bumble, has been added as a non-voting member of the board of directors of Imagine Entertainment by chairmen Brian Grazer and Ron Howard. She joins Tom Freston, Jeff Sagansky, Michael Lynton and Richard Rosenblatt on the board.
It is the latest in a series of expansion moves by Imagine, which recently broadened into the documentary and branding space with the launch of Imagine Documentaries. It also acquired Jax Media, the company behind the half-hour cable comedies Full Frontal With Samantha Bee, Inside Amy Shumer and Broad City. Earlier this year, Imagine Entertainment and Animal Logic’s joint venture entered into a film partnership with Warner Bros. Pictures Group to co-produce and co-finance a slate of animated and hybrid family films. This follows last year’s $100 million TV co-financing venture with Hong Kong based Tvb, and a co-financing arrangement with CBS Television Studios.
It is the latest in a series of expansion moves by Imagine, which recently broadened into the documentary and branding space with the launch of Imagine Documentaries. It also acquired Jax Media, the company behind the half-hour cable comedies Full Frontal With Samantha Bee, Inside Amy Shumer and Broad City. Earlier this year, Imagine Entertainment and Animal Logic’s joint venture entered into a film partnership with Warner Bros. Pictures Group to co-produce and co-finance a slate of animated and hybrid family films. This follows last year’s $100 million TV co-financing venture with Hong Kong based Tvb, and a co-financing arrangement with CBS Television Studios.
- 7/10/2018
- by Mike Fleming Jr
- Deadline Film + TV
For The Hollywood Reporter, 1993's Cool Runnings was a "near-perfectly executed tale" that centered on "one of the nuttiest and most inspiring modern sports stories." The Jon Turteltaub film is the loosely factual tale of the Jamaican bobsled team that competed in the 1988 Calgary Winter Olympics. (Three decades later, the Pyeongchang Games begin Feb. 9, and there's a 25th anniversary screening of Cool Runnings a day earlier at the El Capitan in Hollywood.)
"It's the timeless story of the underdog," says Jeff Sagansky, who acquired the script in 1989 when he headed TriStar Pictures. "And here, the underdog was...
"It's the timeless story of the underdog," says Jeff Sagansky, who acquired the script in 1989 when he headed TriStar Pictures. "And here, the underdog was...
- 2/8/2018
- by Bill Higgins
- The Hollywood Reporter - Movie News
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