David Ellison’s Skydance has sweetened its offer to acquire Paramount Global, Deadline has learned, in an attempt to make it more palatable to the company’s Class B stockholders after they trashed the outlines of a previous deal and threatened to sue.
Ellison’s original offer was to buy out Par’s controlling shareholder Shari Redstone for a significant premium, resulting in a windfall for her, and then merge Skydance into Paramount keeping the combined company public. Stockholders wanted to be bought out at a premium as well.
Skydance, backed by Oracle co-founder Larry Ellison and Gerry Cardinale’s RedBird Capital, sweetened the offer once late last month — offering to buy out a certain number of shares from stockholders other than Redstone — as an exclusive monthlong negotiating period with Par ended. But it wasn’t enough to woo holders of the Class B non-voting stock, who are the majority of shareholders,...
Ellison’s original offer was to buy out Par’s controlling shareholder Shari Redstone for a significant premium, resulting in a windfall for her, and then merge Skydance into Paramount keeping the combined company public. Stockholders wanted to be bought out at a premium as well.
Skydance, backed by Oracle co-founder Larry Ellison and Gerry Cardinale’s RedBird Capital, sweetened the offer once late last month — offering to buy out a certain number of shares from stockholders other than Redstone — as an exclusive monthlong negotiating period with Par ended. But it wasn’t enough to woo holders of the Class B non-voting stock, who are the majority of shareholders,...
- 5/30/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
Sony has signed an NDA with Paramount Global, a move that will give it access to the books and allow deal talks to move ahead, Deadline hears.
Sony and private equity giant Apollo kicked things off previously with a preliminary bid of $26 billion, but what’s being contemplated now is not that, but something narrower. A look at the books is necessary to move forward in any case.
The non-disclosure agreement comes two weeks after a Paramount’s month-long exclusive negotiating window with David Ellison’s Skydance ended with no deal but the indie studio still hanging in, still interested.
After a few weeks passed with no Sony NDA, there’s was speculation its interest was waning as it considered the significant regulatory hurdles, and that’s possibly what’s at play in looking for a different kind of deal.
Sony just wants the studio. Some industry players believe Apollo...
Sony and private equity giant Apollo kicked things off previously with a preliminary bid of $26 billion, but what’s being contemplated now is not that, but something narrower. A look at the books is necessary to move forward in any case.
The non-disclosure agreement comes two weeks after a Paramount’s month-long exclusive negotiating window with David Ellison’s Skydance ended with no deal but the indie studio still hanging in, still interested.
After a few weeks passed with no Sony NDA, there’s was speculation its interest was waning as it considered the significant regulatory hurdles, and that’s possibly what’s at play in looking for a different kind of deal.
Sony just wants the studio. Some industry players believe Apollo...
- 5/18/2024
- by Jill Goldsmith
- Deadline Film + TV
RedBird Imi, the media and entertainment investment company headed by ex-CNN chief Jeff Zucker, announced the completion of its $1.45 billion takeover of All3Media, the U.K.’s largest independent TV production company.
With the deal closed, Zucker, CEO of RedBird Imi, has become the chairman of the All3Media board. All3Media CEO Jane Turton and COO Sara Geater will continue to lead the media company for RedBird Imi.
The All3Media acquisition, announced in February, is RedBird Imi’s largest completed transaction to date and its fifth since the investment company was formed in late 2022. RedBird Imi’s other holdings are L.A.-based scripted production company Media Res, the studio behind Apple TV+’s “The Morning Show”; unscripted production company EverWonder Studios; children’s entertainment company Hidden Pigeon Co., founded by author-illustrator Mo Willems; and digital news outlet Front Office Sports.
RedBird Imi acquired All3Media from its two owners,...
With the deal closed, Zucker, CEO of RedBird Imi, has become the chairman of the All3Media board. All3Media CEO Jane Turton and COO Sara Geater will continue to lead the media company for RedBird Imi.
The All3Media acquisition, announced in February, is RedBird Imi’s largest completed transaction to date and its fifth since the investment company was formed in late 2022. RedBird Imi’s other holdings are L.A.-based scripted production company Media Res, the studio behind Apple TV+’s “The Morning Show”; unscripted production company EverWonder Studios; children’s entertainment company Hidden Pigeon Co., founded by author-illustrator Mo Willems; and digital news outlet Front Office Sports.
RedBird Imi acquired All3Media from its two owners,...
- 5/16/2024
- by Todd Spangler
- Variety Film + TV
Jeff Zucker and Gerry Cardinale’s RedBird Imi on Thursday closed its £1.15 billion ($1.45 billion) acquisition of TV and film production powerhouse All3Media, the largest TV producer in the U.K., from Warner Bros. Discovery and Liberty Global. The company is behind such shows as the reality/competition series The Traitors and Squid Game: The Challenge, drama series The Tourist, and such films as World War I epic 1917.
Regulators in the U.S., the U.K. and Germany approved the deal.
Early this year, RedBird Imi acquired a stake in Media Res, the studio behind the Apple TV+ shows The Morning Show and Pachinko, founded by former HBO executive Michael Ellenberg. The addition of All3Media gives RedBird Imi an expanded production business. It also owns the unscripted production company EverWonder Studios, the children’s entertainment company Hidden Pigeon Company, and the digital news outlet Front Office Sports.
Last week, RedBird...
Regulators in the U.S., the U.K. and Germany approved the deal.
Early this year, RedBird Imi acquired a stake in Media Res, the studio behind the Apple TV+ shows The Morning Show and Pachinko, founded by former HBO executive Michael Ellenberg. The addition of All3Media gives RedBird Imi an expanded production business. It also owns the unscripted production company EverWonder Studios, the children’s entertainment company Hidden Pigeon Company, and the digital news outlet Front Office Sports.
Last week, RedBird...
- 5/16/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
Jeff Zucker, the former president of CNN and CEO of NBCUniversal, explained his M&a focus with RedBird Imi during a conference appearance in London on Thursday, saying that “quality programming that you own … will continue to be the key” in a media industry that has been facing “disruption” and various challenges.
The investment firm bases its work on a key premise. “The idea is that intellectual property and quality content, whether it’s entertainment or news and information, will succeed in the long run with the proper eventual amount of capital and patience,” the industry veteran explained at the Wall Street Journal event.
So, “investing, building, and growing” is the focus at RedBird Imi, which is “not what is really going on in a lot of media,” Zucker said. “It’s actually quite a relief right now to be in the process of trying to grow assets, and each...
The investment firm bases its work on a key premise. “The idea is that intellectual property and quality content, whether it’s entertainment or news and information, will succeed in the long run with the proper eventual amount of capital and patience,” the industry veteran explained at the Wall Street Journal event.
So, “investing, building, and growing” is the focus at RedBird Imi, which is “not what is really going on in a lot of media,” Zucker said. “It’s actually quite a relief right now to be in the process of trying to grow assets, and each...
- 5/9/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
Paramount Global goes back to playing the field this week with two suitors still pursuing the company that has been surrounded by a highly public M&a drama for months. And it’s unlikely to end any time soon.
The company reached the end of its 30-day exclusive negotiating window with Skydance Media on May 3 without coming to an agreement. Sony Pictures Entertainment and Apollo Global Management, meanwhile, are moving forward with a $26 billion all-cash offer that raises regulatory and political concerns in this election-year environment. The special committee of Paramount Global’s board of directors that has been handling the M&a negotiations now intends to proceed with discussions with both the Skydance and Sony/Apollo groups, as reported Sunday by the New York Times and confirmed by multiple sources.
That decision leaves Skydance CEO David Ellison and his backers, which include Gerry Cardinale’s RedBird Capital, with a...
The company reached the end of its 30-day exclusive negotiating window with Skydance Media on May 3 without coming to an agreement. Sony Pictures Entertainment and Apollo Global Management, meanwhile, are moving forward with a $26 billion all-cash offer that raises regulatory and political concerns in this election-year environment. The special committee of Paramount Global’s board of directors that has been handling the M&a negotiations now intends to proceed with discussions with both the Skydance and Sony/Apollo groups, as reported Sunday by the New York Times and confirmed by multiple sources.
That decision leaves Skydance CEO David Ellison and his backers, which include Gerry Cardinale’s RedBird Capital, with a...
- 5/5/2024
- by Cynthia Littleton
- Variety Film + TV
Updated with Paramount’s board decision to begin new negotiations: A special committee of the Paramount Global board decided at a meeting yesterday to begin talking with Sony and Apollo following the expiration of a month-long negotiating window with Skydance on Friday night.
The committee met over the weekend to consider its approach to the preliminary $26 billion cash bid, including the assumption of debt, made jointly by the entertainment giant and global private equity film.
But the David Ellison studio is still in the mix as Paramount seeks to continue those talks – just non-exclusive, obviously, Deadline has learned.
That’s a deal that won’t have any regulatory issues in closing, and is the one that Par’s controlling shareholder Shari Restone prefers.
Paramount shareholders hate the Skydance deal, just as much of Hollywood detests the idea of Paramount and Sony merging – a combination that would need to pass regulatory scrutiny.
The committee met over the weekend to consider its approach to the preliminary $26 billion cash bid, including the assumption of debt, made jointly by the entertainment giant and global private equity film.
But the David Ellison studio is still in the mix as Paramount seeks to continue those talks – just non-exclusive, obviously, Deadline has learned.
That’s a deal that won’t have any regulatory issues in closing, and is the one that Par’s controlling shareholder Shari Restone prefers.
Paramount shareholders hate the Skydance deal, just as much of Hollywood detests the idea of Paramount and Sony merging – a combination that would need to pass regulatory scrutiny.
- 5/5/2024
- by Jill Goldsmith
- Deadline Film + TV
Partners Sony and Apollo have formally reached out to Paramount’s special board committee asking to discuss a potential $26 billion cash offer, Deadline has learned. It comes as Par’s exclusive negotiating window with David Ellison’s Skydance is set to expire.
Paramount share are up more than 13% on the news. Investors would vastly prefer a Sony/Apollo acquisition to a Skydance deal as it is currently configured, even after Skydance made a revised offer, that was said to be its best and last, last week.
Sony and Apollo’s overture is really jus a start, a non-binding expression of interest, Deadline has learned, in meeting and exploring the contours of a possible deal. While Skydance has been given access to Paramount’s books for the last month, Sony and Apollo have yet to do any due diligence.
The partners would buy out the whole company and take it private.
Paramount share are up more than 13% on the news. Investors would vastly prefer a Sony/Apollo acquisition to a Skydance deal as it is currently configured, even after Skydance made a revised offer, that was said to be its best and last, last week.
Sony and Apollo’s overture is really jus a start, a non-binding expression of interest, Deadline has learned, in meeting and exploring the contours of a possible deal. While Skydance has been given access to Paramount’s books for the last month, Sony and Apollo have yet to do any due diligence.
The partners would buy out the whole company and take it private.
- 5/2/2024
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
In the latest twist in Paramount Global’s M&a saga, Sony Pictures Entertainment and Apollo Global Management have made a bid to take Paramount private with an all-cash buyout offer of $26 billion.
Sony and private-equity giant Apollo submitted a letter with the non-binding offer Wednesday to Paramount Global, as first reported by the New York Times and the Wall Street Journal. The bid, which would include the assumption of debt and could be negotiated, would be a premium over the company’s current $22 billion enterprise value.
The tag-teamed buyout bid comes as Paramount Global board’s special committee established to consider M&a proposals is evaluating the best and final offer from Skydance Media to merge Paramount and Skydance while keeping Paramount Global public. Shari Redstone, the controlling shareholder of Paramount Global, is known to prefer consummating a deal with David Ellison’s Skydance, whose bid is backed by RedBird Capital Partners and Kkr.
Sony and private-equity giant Apollo submitted a letter with the non-binding offer Wednesday to Paramount Global, as first reported by the New York Times and the Wall Street Journal. The bid, which would include the assumption of debt and could be negotiated, would be a premium over the company’s current $22 billion enterprise value.
The tag-teamed buyout bid comes as Paramount Global board’s special committee established to consider M&a proposals is evaluating the best and final offer from Skydance Media to merge Paramount and Skydance while keeping Paramount Global public. Shari Redstone, the controlling shareholder of Paramount Global, is known to prefer consummating a deal with David Ellison’s Skydance, whose bid is backed by RedBird Capital Partners and Kkr.
- 5/2/2024
- by Todd Spangler
- Variety Film + TV
The former 15-year UTA exec and partner Jim Meenaghan has been tapped as COO of Greg Silverman’s Stampede Ventures.
Meenaghan, who served as co-head of independent film and head of MP business affairs at UTA, will oversee day-to-day operations at the studio under founder and CEO Silverman. “Stampede Ventures is the perfect opportunity for me, the timing could not be better. I’m very excited to join such an ambitious company committed to making great, commercial content with a remarkable executive team and culture already in place,” Meenaghan said in a statement on Wednesday.
In 2018, UTA promoted Meenaghan to co-head the independent film group with partner Rena Ronson after he had been with the agency for nine years and leading the motion picture business affairs group. Having stepped down from UTA at the end of 2023, Meenaghan joins Stampede after it unveiled a partnership with Film AlUla studios, while also...
Meenaghan, who served as co-head of independent film and head of MP business affairs at UTA, will oversee day-to-day operations at the studio under founder and CEO Silverman. “Stampede Ventures is the perfect opportunity for me, the timing could not be better. I’m very excited to join such an ambitious company committed to making great, commercial content with a remarkable executive team and culture already in place,” Meenaghan said in a statement on Wednesday.
In 2018, UTA promoted Meenaghan to co-head the independent film group with partner Rena Ronson after he had been with the agency for nine years and leading the motion picture business affairs group. Having stepped down from UTA at the end of 2023, Meenaghan joins Stampede after it unveiled a partnership with Film AlUla studios, while also...
- 5/1/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Jeff Zucker and Gerry Cardinale’s RedBird Imi, the new Abu Dhabi-backed owner of All3Media, has pulled out of its deal to buy the UK’s Daily Telegraph following press freedom concerns.
RedBird Imi will now have to effectively sell the Telegraph as it had already taken control of the British paper plus Spectator Magazine in December when it repaid owner the Barclay family’s debts, including a £600M ($753M) loan against the titles.
“RedBird Imi has today confirmed that it intends to withdraw from its proposed acquisition of the Telegraph Media Group and proceed with a sale,” a RedBird Imi spokesperson told Reuters. “We have held constructive conversations with the government about ensuring a smooth and orderly sale for both titles.”
The move comes months after RedBird Imi was prevented from bringing the deal home due to regulatory roadblocks amid concern at the upper echelons of UK government around press freedom.
RedBird Imi will now have to effectively sell the Telegraph as it had already taken control of the British paper plus Spectator Magazine in December when it repaid owner the Barclay family’s debts, including a £600M ($753M) loan against the titles.
“RedBird Imi has today confirmed that it intends to withdraw from its proposed acquisition of the Telegraph Media Group and proceed with a sale,” a RedBird Imi spokesperson told Reuters. “We have held constructive conversations with the government about ensuring a smooth and orderly sale for both titles.”
The move comes months after RedBird Imi was prevented from bringing the deal home due to regulatory roadblocks amid concern at the upper echelons of UK government around press freedom.
- 4/30/2024
- by Max Goldbart
- Deadline Film + TV
Paramount Global unveiled its first-quarter financial results Monday as controlling shareholder National Amusements, led by Shari Redstone, is in exclusive sale negotiations with a group led by David Ellison’s Skydance, as well as Gerry Cardinale’s RedBird Capital and Kkr.
During the latest quarter, the company hit 71 million Paramount+ streaming subscribers worldwide, up from 67.5 million Paramount+ customers at the end of its fourth quarter, with 3.7 million customers added during the past three months.
And the studio shrunk its streaming loss to $286 million for the first quarter, an improvement over a $511 million loss in Q1 2023. Direct-to-consumer revenue rose 24 percent to $1.87 billion, as advertising and subscription revenues were both up, driven by growth from Pluto TV and Paramount+.
Elsewhere, TV media revenue rose 1 percent to $5.2 billion and filmed entertainment revenue rose 3 percent to $605 million, driven by business from Mean Girls and Bob Marley: One Love.
Paramount’s latest earnings were released...
During the latest quarter, the company hit 71 million Paramount+ streaming subscribers worldwide, up from 67.5 million Paramount+ customers at the end of its fourth quarter, with 3.7 million customers added during the past three months.
And the studio shrunk its streaming loss to $286 million for the first quarter, an improvement over a $511 million loss in Q1 2023. Direct-to-consumer revenue rose 24 percent to $1.87 billion, as advertising and subscription revenues were both up, driven by growth from Pluto TV and Paramount+.
Elsewhere, TV media revenue rose 1 percent to $5.2 billion and filmed entertainment revenue rose 3 percent to $605 million, driven by business from Mean Girls and Bob Marley: One Love.
Paramount’s latest earnings were released...
- 4/29/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Paramount Global’s CEO Bob Bakish is out. The executive who has been a presence at several iterations of the company since 1997 will exit, effective immediately. A triumvirate of division heads — Brian Robbins, George Cheeks and Chris McCarthy — will step in to lead the company for now in a new office of the CEO.
Robbins is president & CEO of Paramount Pictures & Nickelodeon and chief content officer, Movies and Kids & Family, Paramount+; Cheeks is president-ceo of CBS, and chief content officer, News and Sports, Paramount+; McCarthy is President & CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks.
The company said the “Office of the CEO is working with the Board to develop a comprehensive, long-range plan to accelerate growth and develop popular content, materially streamline operations, strengthen the balance sheet, and continue to optimize the streaming strategy. The Board has great confidence in the leaders comprising the Office of the CEO,...
Robbins is president & CEO of Paramount Pictures & Nickelodeon and chief content officer, Movies and Kids & Family, Paramount+; Cheeks is president-ceo of CBS, and chief content officer, News and Sports, Paramount+; McCarthy is President & CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks.
The company said the “Office of the CEO is working with the Board to develop a comprehensive, long-range plan to accelerate growth and develop popular content, materially streamline operations, strengthen the balance sheet, and continue to optimize the streaming strategy. The Board has great confidence in the leaders comprising the Office of the CEO,...
- 4/29/2024
- by Jill Goldsmith
- Deadline Film + TV
It’s the moment of truth or consequences for Paramount Global.
The entertainment giant, controlled by Shari Redstone via her family’s National Amusements holding company, is in the middle of arguably the most fateful week in its history, with critical business decisions set to collide.
On Sunday, the group of David Ellison’s Skydance, Gerry Cardinale’s RedBird Capital and Kkr submitted a “best and final” offer that would see them acquire National Amusements and merge Paramount with Skydance, infusing the company with fresh cash and installing a new leadership team.
The expanded deal also includes sweeteners to try and convince hesitant common stockholders to support the deal, a source tells The Hollywood Reporter.
The move arrives as the fate of Bob Bakish as CEO is hanging in the balance, hours before Paramount was due to report a key Q1 2024 earnings report, with Wall Street anxious to see how...
The entertainment giant, controlled by Shari Redstone via her family’s National Amusements holding company, is in the middle of arguably the most fateful week in its history, with critical business decisions set to collide.
On Sunday, the group of David Ellison’s Skydance, Gerry Cardinale’s RedBird Capital and Kkr submitted a “best and final” offer that would see them acquire National Amusements and merge Paramount with Skydance, infusing the company with fresh cash and installing a new leadership team.
The expanded deal also includes sweeteners to try and convince hesitant common stockholders to support the deal, a source tells The Hollywood Reporter.
The move arrives as the fate of Bob Bakish as CEO is hanging in the balance, hours before Paramount was due to report a key Q1 2024 earnings report, with Wall Street anxious to see how...
- 4/29/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Paramount Global is set to announce as early as Monday morning that Bob Bakish is stepping down as CEO amid talks with Skydance and ahead of the company’s quarterly earnings that afternoon.
News Bakish might exit started circulating Friday. Paramount’s controlling shareholder and executive chair Shari Redstone, while once clearly on the same page with the chief executive, is said to be unhappy with some of his more recent strategic moves including a decision not to unload Showtime and an aborted sale process for BET. Deadline has also heard that Bakish is not a fan of a deal with David Ellison’s Skydance, in opposition to Redstone. The two companies are towards the end of a exclusive month-long negotiating period.
Paramount is reporting first quarter earnings after market close Monday. Bakish is not expected to be on the call.
It’s not clear how the company would replace him.
News Bakish might exit started circulating Friday. Paramount’s controlling shareholder and executive chair Shari Redstone, while once clearly on the same page with the chief executive, is said to be unhappy with some of his more recent strategic moves including a decision not to unload Showtime and an aborted sale process for BET. Deadline has also heard that Bakish is not a fan of a deal with David Ellison’s Skydance, in opposition to Redstone. The two companies are towards the end of a exclusive month-long negotiating period.
Paramount is reporting first quarter earnings after market close Monday. Bakish is not expected to be on the call.
It’s not clear how the company would replace him.
- 4/27/2024
- by Jill Goldsmith
- Deadline Film + TV
Even as Paramount Global continues to hold exclusive talks with David Ellison’s Skydance and Gerry Cardinale’s Redbird Capital, another potential buyer group is considering its own moves.
The Hollywood Reporter has confirmed that executives at Sony Corp., including Sony Pictures chief Tony Vinciquerra, have been in touch with Apollo Global Management about making a joint bid for the entertainment company.
Apollo had previously made a $26 billion offer for Paramount, inclusive of equity and debt, though it was reportedly dismissed. But partnering with Sony would likely eliminate any cash or financing concerns.
The New York Times first reported the Sony talks, adding that no offer has been made, given that the exclusive negotiating window is still in place. The Times reported that one structure under consideration would see Sony and Apollo effectively take Paramount private, with Sony owning a majority of the company, with Apollo operating as a minority owner.
The Hollywood Reporter has confirmed that executives at Sony Corp., including Sony Pictures chief Tony Vinciquerra, have been in touch with Apollo Global Management about making a joint bid for the entertainment company.
Apollo had previously made a $26 billion offer for Paramount, inclusive of equity and debt, though it was reportedly dismissed. But partnering with Sony would likely eliminate any cash or financing concerns.
The New York Times first reported the Sony talks, adding that no offer has been made, given that the exclusive negotiating window is still in place. The Times reported that one structure under consideration would see Sony and Apollo effectively take Paramount private, with Sony owning a majority of the company, with Apollo operating as a minority owner.
- 4/19/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
Sony Pictures Entertainment and Apollo Global Management are considering a possible joint bid for Paramount Global.
News of the discussions was first reported by the New York Times. Sources close to the situation confirmed the conversations but cautioned that there are numerous obstacles that would need to be overcome before the sides could formally submit an offer. Apollo previously floated a $26 billion offer for Paramount by itself and before that it floated an $11 billion offer for the Paramount Pictures film studio on its own.
At present, Paramount Global is in the midst of an exclusive 30-day negotiating window with Skydance Media. Skydance and Paramount are trying to work out a deal that would merge Paramount into Skydance and bring in a new management regime led by Skydance CEO David Ellison. Paramount Global has set up a special committee of board members to consider offers and options for Paramount. That committee...
News of the discussions was first reported by the New York Times. Sources close to the situation confirmed the conversations but cautioned that there are numerous obstacles that would need to be overcome before the sides could formally submit an offer. Apollo previously floated a $26 billion offer for Paramount by itself and before that it floated an $11 billion offer for the Paramount Pictures film studio on its own.
At present, Paramount Global is in the midst of an exclusive 30-day negotiating window with Skydance Media. Skydance and Paramount are trying to work out a deal that would merge Paramount into Skydance and bring in a new management regime led by Skydance CEO David Ellison. Paramount Global has set up a special committee of board members to consider offers and options for Paramount. That committee...
- 4/19/2024
- by Cynthia Littleton
- Variety Film + TV
Updated with stock price. Shares of Paramount Global gave up some gains on Thursday after surging more than 15% yesterday as Skydance chief David Ellison secured pole position to clinch a majority stake of National Amusements.
Led by Shari Redstone, National Amusements operates a movie theater circuit and also controls more than three-quarters of Paramount’s voting shares. A report in Bloomberg just prior to market close said a tentative deal was reached between Ellison, a longtime business partner on film and TV projects with Paramount, and Redstone. There is no deal done. But as Deadline reported earlier today, the two sides are in an exclusive negotiating period. Such an arrangement is only entered into with a framework in place, in the hope of reaching a final agreement.
The two sides have established a 30-day exclusive negotiating window, Deadline has learned, a sign that things are moving forward more decisively after months of speculation.
Led by Shari Redstone, National Amusements operates a movie theater circuit and also controls more than three-quarters of Paramount’s voting shares. A report in Bloomberg just prior to market close said a tentative deal was reached between Ellison, a longtime business partner on film and TV projects with Paramount, and Redstone. There is no deal done. But as Deadline reported earlier today, the two sides are in an exclusive negotiating period. Such an arrangement is only entered into with a framework in place, in the hope of reaching a final agreement.
The two sides have established a 30-day exclusive negotiating window, Deadline has learned, a sign that things are moving forward more decisively after months of speculation.
- 4/3/2024
- by Jill Goldsmith and Dade Hayes
- Deadline Film + TV
Shares in Paramount Global soared on Wednesday after details of an acquisition proposal by the private equity firm Apollo became public.
Paramount stock closed at $12.51 per share Wednesday, up nearly 12 percent for the day.
The Wall Street Journal reported that Apollo made an $11 billion offer just for Paramount’s film and television studio. That is higher than the company’s $7.7 billion market cap when the story was published, and the deal reportedly does not include Paramount’s other business lines, like CBS, BET or the former Viacom cable channels.
Paramount’s market cap after the stock surge was about $8.6 billion.
The fate of Paramount has been the talk of Hollywood in recent months, with a number of potential bidders circling the company, as well as National Amusements, the Redstone family company that has a controlling stake.
Gerry Cardinale of RedBird Capital and David Ellison of Skydance have held talks with...
Paramount stock closed at $12.51 per share Wednesday, up nearly 12 percent for the day.
The Wall Street Journal reported that Apollo made an $11 billion offer just for Paramount’s film and television studio. That is higher than the company’s $7.7 billion market cap when the story was published, and the deal reportedly does not include Paramount’s other business lines, like CBS, BET or the former Viacom cable channels.
Paramount’s market cap after the stock surge was about $8.6 billion.
The fate of Paramount has been the talk of Hollywood in recent months, with a number of potential bidders circling the company, as well as National Amusements, the Redstone family company that has a controlling stake.
Gerry Cardinale of RedBird Capital and David Ellison of Skydance have held talks with...
- 3/20/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
It has been two years since Jeff Zucker resigned from the top job at CNN over a consensual relationship with a network executive. Since then, he’s headed up RedBird Imi, a joint venture between Gerry Cardinale’s RedBird Capital and Imi, an investment fund backed by the UAE. With a massive private equity war chest behind him, Zucker, 58, has been relentlessly hunting for deals. In a little over a year, he has invested in TV studio and motion picture company Media Res and news site Front Office Sports and just made an audacious bid to buy the U.K.’s Telegraph, provoking an outcry from journalists and politicians. On Feb. 17, Zucker’s firm bought powerhouse producer All3Media (which backed 1917, Fleabag, Squid Game: The Challenge, The Tinder Swindler and Penny Dreadful, among many other movies, docs and shows) for $1.45 billion. The mogul spoke to The Hollywood Reporter shortly after.
What...
What...
- 2/21/2024
- by Lachlan Cartwright
- The Hollywood Reporter - Movie News
US investment giant RedBird Imi has agreed a £1.2bn deal to buy super-indie All3Media.
The deal, announced today, will see the Jeff Zucker-led Red Bird Imi take ownership of the producer-distributor from current owners Warner Bros Discovery and Liberty Global for £1.15bn.
Redbird Imi, a joint-venture between RedBird Capital Partners and Abu Dhabi-based International Media Investments, will now have control over the London-based company which commands some 50 international production labels, including Studio Lambert, Raw TV, Two Brothers Pictures, Silverback Films and houses some of the biggest titles in global TV, such as The Traitors, Squid Game: The Challenge and The Tourist.
The deal, announced today, will see the Jeff Zucker-led Red Bird Imi take ownership of the producer-distributor from current owners Warner Bros Discovery and Liberty Global for £1.15bn.
Redbird Imi, a joint-venture between RedBird Capital Partners and Abu Dhabi-based International Media Investments, will now have control over the London-based company which commands some 50 international production labels, including Studio Lambert, Raw TV, Two Brothers Pictures, Silverback Films and houses some of the biggest titles in global TV, such as The Traitors, Squid Game: The Challenge and The Tourist.
- 2/16/2024
- ScreenDaily
Jeff Zucker and Gerry Cardinale’s RedBird Imi has finalized a £1.15 billion ($1.45 billion) deal to acquire production powerhouse All3Media — the largest TV producer in the U.K. and the company behind such shows as reality series Squid Game: The Challenge and films like World War I epic 1917 — from owners Warner Bros. Discovery and John Malone’s cable and telecom giant Liberty Global.
The deal gives the new owner control over a big production business across scripted and unscripted series as well as theatrical movie titles. Earlier this year, RedBird Imi acquired a stake in Media Res, the studio behind the Apple TV+ shows The Morning Show and Pachinko, among other projects, which was founded by former HBO executive Michael Ellenberg.
Launched in late 2022 with a $1 billion war chest backed by RedBird Capital and Abu Dhabi’s Imi, RedBird Imi has the mandate to pursue investments in the news, entertainment and sports sectors.
The deal gives the new owner control over a big production business across scripted and unscripted series as well as theatrical movie titles. Earlier this year, RedBird Imi acquired a stake in Media Res, the studio behind the Apple TV+ shows The Morning Show and Pachinko, among other projects, which was founded by former HBO executive Michael Ellenberg.
Launched in late 2022 with a $1 billion war chest backed by RedBird Capital and Abu Dhabi’s Imi, RedBird Imi has the mandate to pursue investments in the news, entertainment and sports sectors.
- 2/16/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
All3Media has finally been sold.
Redbird Imi has snapped up the production-distribution giant behind “The Traitors” and Jamie Dornan-starrer “The Tourist” from owners Liberty Global and Warner Bros. Discovery for $1.45 billion.
An investment group run by Jeff Zucker and former Goldman Sachs banker Gerry Cardinale, Redbird Imi recently revealed plans to acquire the U.K.’s Telegraph newspaper and Spectator magazine.
Jeff Zucker, the CEO of RedBird Imi, will become the chair of the All3Media board. CEO Jane Turton and COO Sara Geater will continue to lead the company for RedBird Imi.
“All3Media is one of the world’s great content companies, and this gives us an incredible platform to continue to grow our expanding portfolio,” Zucker said. “The demand for new shows and ongoing existing series, both scripted and unscripted, makes All3 a perfect fit for us. And we would not be doing this if not...
Redbird Imi has snapped up the production-distribution giant behind “The Traitors” and Jamie Dornan-starrer “The Tourist” from owners Liberty Global and Warner Bros. Discovery for $1.45 billion.
An investment group run by Jeff Zucker and former Goldman Sachs banker Gerry Cardinale, Redbird Imi recently revealed plans to acquire the U.K.’s Telegraph newspaper and Spectator magazine.
Jeff Zucker, the CEO of RedBird Imi, will become the chair of the All3Media board. CEO Jane Turton and COO Sara Geater will continue to lead the company for RedBird Imi.
“All3Media is one of the world’s great content companies, and this gives us an incredible platform to continue to grow our expanding portfolio,” Zucker said. “The demand for new shows and ongoing existing series, both scripted and unscripted, makes All3 a perfect fit for us. And we would not be doing this if not...
- 2/16/2024
- by K.J. Yossman
- Variety Film + TV
The All3Media sale saga has drawn to a close after almost a year with RedBird Imi confirming the acquisition of The Traitors superindie from Warner Bros. Discovery and Liberty Global for £1.15B ($1.45B).
Jeff Zucker and Gerry Cardinale‘s RedBird Imi takes control of a 50-label outfit with production entities across the world that owns the likes of Fleabag maker Two Brothers Pictures, Traitors producer Studio Lambert and 1917’s Neal Street. The deal will complete in Q2 or Q3 of this year subject to regulatory approvals.
All3Media CEO Jane Turton and COO Sara Geater will continue to lead the company, RedBird said.
“All3Media is one of the world’s great content companies, and this gives us an incredible platform to continue to grow our expanding portfolio,” Zucker said. “The demand for new shows and ongoing existing series, both scripted and unscripted, makes All3 a perfect fit for us.
Jeff Zucker and Gerry Cardinale‘s RedBird Imi takes control of a 50-label outfit with production entities across the world that owns the likes of Fleabag maker Two Brothers Pictures, Traitors producer Studio Lambert and 1917’s Neal Street. The deal will complete in Q2 or Q3 of this year subject to regulatory approvals.
All3Media CEO Jane Turton and COO Sara Geater will continue to lead the company, RedBird said.
“All3Media is one of the world’s great content companies, and this gives us an incredible platform to continue to grow our expanding portfolio,” Zucker said. “The demand for new shows and ongoing existing series, both scripted and unscripted, makes All3 a perfect fit for us.
- 2/16/2024
- by Max Goldbart
- Deadline Film + TV
Byron Allen on Tuesday formally offered to buy Paramount Global for $14 billion.
According to Bloomberg, the offer, Allen is said to have sent to Paramount’s board and senior management by text and email, proposes $28.58 for voting share and $21.53 to buy non-voting shares. The deal would include the assumption of Paramount Global’s debt, bringing the total cost to $30 billion.
“Mr. Byron Allen did submit a bid on behalf of Allen Media Group and its strategic partners to purchase all of Paramount Global’s outstanding shares. We believe this $30 billion offer, which includes debt and equity, is the best solution for all of the Paramount Global shareholders, and the bid should be taken seriously and pursued,” a representative for Allen said in a statement provided to TheWrap.
According to Bloomberg, Allen plans to break the company up by selling Paramount’s film business and some intellectual property along with unspecified real estate holdings.
According to Bloomberg, the offer, Allen is said to have sent to Paramount’s board and senior management by text and email, proposes $28.58 for voting share and $21.53 to buy non-voting shares. The deal would include the assumption of Paramount Global’s debt, bringing the total cost to $30 billion.
“Mr. Byron Allen did submit a bid on behalf of Allen Media Group and its strategic partners to purchase all of Paramount Global’s outstanding shares. We believe this $30 billion offer, which includes debt and equity, is the best solution for all of the Paramount Global shareholders, and the bid should be taken seriously and pursued,” a representative for Allen said in a statement provided to TheWrap.
According to Bloomberg, Allen plans to break the company up by selling Paramount’s film business and some intellectual property along with unspecified real estate holdings.
- 1/31/2024
- by Ross A. Lincoln
- The Wrap
Ben Affleck will be directing best friend and longtime collaborator Matt Damon once more, this time for Netflix noir film “Animals.”
Affleck recently directed (and co-starred alongside) Damon for Nike/Michael Jordan biopic “Air.” Now, the secretive Netflix production which has been known under titles like “The Animals of Los Angeles” and “Be Gentlemen,” is officially announced as “Animals.”
Affleck and Damon’s joint Artists Equity production company is behind the film, which is set to begin filming in March 2024 in Los Angeles.
“Animals” is written by Connor McIntyre, with revisions by Billy Ray. Per The Hollywood Reporter, the thriller centers around a mayoral candidate whose son is kidnapped. The candidate and his wife opt to find out the truth for themselves.
“Animals” will be produced by Affleck, Damon, and Dani Bernfeld of Artists Equity, the artist-led studio founded by Ben Affleck, Matt Damon, and Gerry Cardinale/RedBird Capital Partners.
Affleck recently directed (and co-starred alongside) Damon for Nike/Michael Jordan biopic “Air.” Now, the secretive Netflix production which has been known under titles like “The Animals of Los Angeles” and “Be Gentlemen,” is officially announced as “Animals.”
Affleck and Damon’s joint Artists Equity production company is behind the film, which is set to begin filming in March 2024 in Los Angeles.
“Animals” is written by Connor McIntyre, with revisions by Billy Ray. Per The Hollywood Reporter, the thriller centers around a mayoral candidate whose son is kidnapped. The candidate and his wife opt to find out the truth for themselves.
“Animals” will be produced by Affleck, Damon, and Dani Bernfeld of Artists Equity, the artist-led studio founded by Ben Affleck, Matt Damon, and Gerry Cardinale/RedBird Capital Partners.
- 1/25/2024
- by Samantha Bergeson
- Indiewire
RedBird Imi, the media investment firm headed by ex-CNN chief Jeff Zucker, has made an investment in Media Res, the studio behind Apple TV+’s hit series “The Morning Show.”
Financial details of the deal weren’t disclosed. It’s the first investment by RedBird Imi into scripted entertainment. Media Res founder and CEO Michael Ellenberg will retain a majority ownership and continue to run day-to-day operations of the company, while Zucker will take a seat on the board.
Media Res, based in L.A., said it will use the investment to “strike new strategic partnerships” and to continue its mission of “championing artists’ original ideas and sourcing projects from exceptional IP.”
Season 3 of “The Morning Show,” starring and executive produced by Reese Witherspoon and Jennifer Aniston, last month became the most-watched drama to date on Apple TV+. Media Res’ current slate includes the second season of the Apple TV+ series “Pachinko,...
Financial details of the deal weren’t disclosed. It’s the first investment by RedBird Imi into scripted entertainment. Media Res founder and CEO Michael Ellenberg will retain a majority ownership and continue to run day-to-day operations of the company, while Zucker will take a seat on the board.
Media Res, based in L.A., said it will use the investment to “strike new strategic partnerships” and to continue its mission of “championing artists’ original ideas and sourcing projects from exceptional IP.”
Season 3 of “The Morning Show,” starring and executive produced by Reese Witherspoon and Jennifer Aniston, last month became the most-watched drama to date on Apple TV+. Media Res’ current slate includes the second season of the Apple TV+ series “Pachinko,...
- 1/4/2024
- by Todd Spangler
- Variety Film + TV
The most consequential entertainment business story of 2024 was kickstarted by two pro operators having a pre-Christmas meal. The Dec. 19 lunch between Warner Bros. Discovery CEO David Zaslav and Paramount Global CEO Bob Bakish, held at Paramount’s New York office, instantly ignited a firestorm of “what ifs,” as the future of the storied studio was suddenly in question.
Is Paramount for sale? Or is controlling shareholder National Amusements? Or both? But the future of Paramount — and for that matter Wbd — may be defined by a cast of characters straight out of central casting: A trio of scions forging their own path in the footsteps of their mogul fathers (Shari Redstone, David Ellison, Brian Roberts); a pair of self-made billionaire investors who find their fortunes tied up in the debt-laden companies at the heart of the deal (John Malone, Warren Buffett); and a handful of professional executives seeking moguldom — or at...
Is Paramount for sale? Or is controlling shareholder National Amusements? Or both? But the future of Paramount — and for that matter Wbd — may be defined by a cast of characters straight out of central casting: A trio of scions forging their own path in the footsteps of their mogul fathers (Shari Redstone, David Ellison, Brian Roberts); a pair of self-made billionaire investors who find their fortunes tied up in the debt-laden companies at the heart of the deal (John Malone, Warren Buffett); and a handful of professional executives seeking moguldom — or at...
- 1/4/2024
- by Alex Weprin
- The Hollywood Reporter - Movie News
A day after revealing on New Year’s Eve on Fox that the newly formed United Football League will kick off in June, co-owners Dwayne Johnson and Dany Garcia took to ESPN to unveil the cities and coaches for the inaugural season.
The Ufl, the pro spring league created via the merger of the Usfl and XFL, will comprise two four-team conferences, Johnson and Garcia said today during an appearance on ESPN College GameDay.
ESPN and Fox are co-owners of the new league.
In the new Ufl, the Usfl Conference will hold the Birmingham Stallions, Houston Roughnecks, Memphis Showboats and Michigan Panthers. The XFL Conference will hold the Arlington Renegades, D.C. Defenders, San Antonio Brahmas and St. Louis Battlehawks.
Houston had franchises in both the Usfl and XFL in 2023; those were combined to create the Roughnecks.
Out of the mix are former XFL teams in Orlando, Seattle and Las Vegas,...
The Ufl, the pro spring league created via the merger of the Usfl and XFL, will comprise two four-team conferences, Johnson and Garcia said today during an appearance on ESPN College GameDay.
ESPN and Fox are co-owners of the new league.
In the new Ufl, the Usfl Conference will hold the Birmingham Stallions, Houston Roughnecks, Memphis Showboats and Michigan Panthers. The XFL Conference will hold the Arlington Renegades, D.C. Defenders, San Antonio Brahmas and St. Louis Battlehawks.
Houston had franchises in both the Usfl and XFL in 2023; those were combined to create the Roughnecks.
Out of the mix are former XFL teams in Orlando, Seattle and Las Vegas,...
- 1/1/2024
- by Patrick Hipes
- Deadline Film + TV
The merger of the spring football leagues is official.
The XFL, owned by Dwayne “The Rock” Johnson, Dany Garcia and RedBird Capital’s Gerry Cardinale, will merge with the Usfl, owned by Fox, to create a new league called the United Football League, or Ufl for short.
The new league was announced by Johnson and Garcia during the Fox NFL Sunday pregame show.
“I think in the Ufl … these players are gonna play hard-nosed, intense football, passionate football,” Johnson said, adding that the hope is for the league to become a springboard to the NFL, citing his own experience playing for the University of Miami and being player “54” (a reference to the 53-man NFL rosters).
“Imagine all those 54s out there, and you tell them you’ve got one more shot in the Ufl and then to go on to the NFL potentially, how do you think they’ll play?...
The XFL, owned by Dwayne “The Rock” Johnson, Dany Garcia and RedBird Capital’s Gerry Cardinale, will merge with the Usfl, owned by Fox, to create a new league called the United Football League, or Ufl for short.
The new league was announced by Johnson and Garcia during the Fox NFL Sunday pregame show.
“I think in the Ufl … these players are gonna play hard-nosed, intense football, passionate football,” Johnson said, adding that the hope is for the league to become a springboard to the NFL, citing his own experience playing for the University of Miami and being player “54” (a reference to the 53-man NFL rosters).
“Imagine all those 54s out there, and you tell them you’ve got one more shot in the Ufl and then to go on to the NFL potentially, how do you think they’ll play?...
- 12/31/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Dwayne Johnson and Dany Garcia on Sunday unveiled plans for the United Football League, the new spring pro football league born from the merger of the XFL and Usfl.
During an appearance this morning on Fox’s NFL on Fox, the pair said the Ufl’s debut season will begin March 30, 2024 with a game between the Arlington Renegades and Birmingham Stallions, the previous champions from each league. More details are expected soon regarding teams and markets.
Last year was Johnson and Garcia’s only season as co-owners with RedBird Capital Partners of the resurrected XFL, which was competing with the Usfl for NFL-offseason eyeballs. The Usfl itself was in its second season of its own revival, operating with a joint broadcast deal with both NBC and Fox, with the latter also holding a minority stake in the league.
A release today noted five Ufl partners: former XFL owners Johnson, Garcia and RedBird’s Gerry Cardinale,...
During an appearance this morning on Fox’s NFL on Fox, the pair said the Ufl’s debut season will begin March 30, 2024 with a game between the Arlington Renegades and Birmingham Stallions, the previous champions from each league. More details are expected soon regarding teams and markets.
Last year was Johnson and Garcia’s only season as co-owners with RedBird Capital Partners of the resurrected XFL, which was competing with the Usfl for NFL-offseason eyeballs. The Usfl itself was in its second season of its own revival, operating with a joint broadcast deal with both NBC and Fox, with the latter also holding a minority stake in the league.
A release today noted five Ufl partners: former XFL owners Johnson, Garcia and RedBird’s Gerry Cardinale,...
- 12/31/2023
- by Patrick Hipes
- Deadline Film + TV
The entertainment company that everyone in Hollywood is talking about is based in a nondescript three-story office building in the Boston suburb of Norwood, Massachusetts.
Nestled between an indoor ice-skating rink and a Home Depot distribution center is the headquarters of National Amusements, Inc., a movie theater operator with 22 cinemas in the U.S., almost all in the New York to Boston corridor.
But it’s not the movie theaters that have investment bankers, media moguls and opportunistic private equity firms salivating. National Amusements, the pride and joy of the media titan Sumner Redstone, and now controlled by his daughter Shari, serves as a holding company for the family’s most precious asset: voting control of Paramount Global, the owner of CBS, Paramount+, Paramount Pictures, Nickelodeon, and other media brands.
Paramount — or at least control of Paramount via National Amusements — now appears to be on the block, with Redstone reportedly...
Nestled between an indoor ice-skating rink and a Home Depot distribution center is the headquarters of National Amusements, Inc., a movie theater operator with 22 cinemas in the U.S., almost all in the New York to Boston corridor.
But it’s not the movie theaters that have investment bankers, media moguls and opportunistic private equity firms salivating. National Amusements, the pride and joy of the media titan Sumner Redstone, and now controlled by his daughter Shari, serves as a holding company for the family’s most precious asset: voting control of Paramount Global, the owner of CBS, Paramount+, Paramount Pictures, Nickelodeon, and other media brands.
Paramount — or at least control of Paramount via National Amusements — now appears to be on the block, with Redstone reportedly...
- 12/15/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Venture capital group reportedly in advanced talks with Warner Bros Discovery and Liberty Global to acquire production group
US-based investment firm RedBird Imi, the venture capital group run by former CNN president Jeff Zucker and former Goldman Sachs exec Gerry Cardinale, has emerged as the frontrunner to buy London-based film and TV outfit All3Media in a deal believed to be valued over £1bn.
According to The Financial Times, tis in advanced talks with All3Media’s owners Warner Bros Discovery and Liberty Global, which acquired the company in 2014 for £550m.
All3Media owns leading film and TV companies including Pippa Harris...
US-based investment firm RedBird Imi, the venture capital group run by former CNN president Jeff Zucker and former Goldman Sachs exec Gerry Cardinale, has emerged as the frontrunner to buy London-based film and TV outfit All3Media in a deal believed to be valued over £1bn.
According to The Financial Times, tis in advanced talks with All3Media’s owners Warner Bros Discovery and Liberty Global, which acquired the company in 2014 for £550m.
All3Media owns leading film and TV companies including Pippa Harris...
- 12/12/2023
- by Marian McHugh Broadcast
- ScreenDaily
Jeff Zucker and Gerry Cardinale’s RedBird Imi has emerged as the new frontrunner to purchase U.K. production-distribution outfit All3Media, Variety understands.
The Financial Times reported on Tuesday that the investment group is in advanced talks to purchase the “Fleabag” producer in a deal worth £1 billion ($1.26 billion). Joint owners Warner Bros. Discovery and Liberty Global put All3Media up for sale earlier this year, after purchasing it in 2014 for £550 million.
Though a source told the Financial Times that a deal could enter exclusive negotiations before Christmas, others cautioned that there are still other parties involved. All3Media has seen several potential buyers get close to a sale and then back out, including French super-indie Banijay, which put in an offer on Nov. 30 but has since exited the race. Additional suitors have included ITV, Goldman Sachs, Sony and the North Road Company.
RedBird, All3Media and Warner Bros. Discovery declined to comment on the matter.
The Financial Times reported on Tuesday that the investment group is in advanced talks to purchase the “Fleabag” producer in a deal worth £1 billion ($1.26 billion). Joint owners Warner Bros. Discovery and Liberty Global put All3Media up for sale earlier this year, after purchasing it in 2014 for £550 million.
Though a source told the Financial Times that a deal could enter exclusive negotiations before Christmas, others cautioned that there are still other parties involved. All3Media has seen several potential buyers get close to a sale and then back out, including French super-indie Banijay, which put in an offer on Nov. 30 but has since exited the race. Additional suitors have included ITV, Goldman Sachs, Sony and the North Road Company.
RedBird, All3Media and Warner Bros. Discovery declined to comment on the matter.
- 12/12/2023
- by Ellise Shafer
- Variety Film + TV
Jeff Zucker and Gerry Cardinale’s RedBird Imi has emerged as the new frontrunner in the race to buy Squid Game: The Challenge maker All3Media.
According to the Ft, the private equity group is in advanced talks with All3-owners Warner Bros. Discovery (Wbd) and Liberty Global in a deal worth around £1B ($1.26B), which could complete before Christmas. Sources confirmed to Deadline that RedBird is now leading the pack.
The investment firm is 75%-owned by Abu Dhabi and was formed last year. RedBird Capital, which owns the other share, has a roster including Skydance Media, the Yes Network, and Matt Damon and Ben Affleck’s Artists Equity. RedBird also teamed with Dwayne Johnson and Dany Garcia to buy the XFL out of bankruptcy.
RedBird Imi is pushing into the UK and is currently trying to buy the Telegraph and Spectator magazines, although that has been held up by...
According to the Ft, the private equity group is in advanced talks with All3-owners Warner Bros. Discovery (Wbd) and Liberty Global in a deal worth around £1B ($1.26B), which could complete before Christmas. Sources confirmed to Deadline that RedBird is now leading the pack.
The investment firm is 75%-owned by Abu Dhabi and was formed last year. RedBird Capital, which owns the other share, has a roster including Skydance Media, the Yes Network, and Matt Damon and Ben Affleck’s Artists Equity. RedBird also teamed with Dwayne Johnson and Dany Garcia to buy the XFL out of bankruptcy.
RedBird Imi is pushing into the UK and is currently trying to buy the Telegraph and Spectator magazines, although that has been held up by...
- 12/12/2023
- by Max Goldbart
- Deadline Film + TV
After landing multiple Golden Globe nominations for its debut feature Air, the artist-led studio Artists Equity, founded by Ben Affleck, Matt Damon, and Gerry Cardinale of RedBird Capital Partners, has announced a new strategic partnership with Chris Hemsworth and Wild State, the burgeoning production company founded by Hemsworth and longtime producing partner Ben Grayson.
The partnership will see Wild State collaborate with Artists Equity on its scripted projects for film and TV, as Hemsworth’s banner continues its separate partnership with National Geographic for unscripted projects.
Said Artists Equity’s Co-Founder and CEO, Affleck, “We are excited to formally announce our deal with Chris, Ben, and his team at Wild State. This strategic partnership embodies the core foundation upon which Artists Equity was built – creator empowerment and ownership. We look forward to collaborating with Wild State as we expand our reach in storytelling.”
Added Wild State’s Hemsworth and Grayson,...
The partnership will see Wild State collaborate with Artists Equity on its scripted projects for film and TV, as Hemsworth’s banner continues its separate partnership with National Geographic for unscripted projects.
Said Artists Equity’s Co-Founder and CEO, Affleck, “We are excited to formally announce our deal with Chris, Ben, and his team at Wild State. This strategic partnership embodies the core foundation upon which Artists Equity was built – creator empowerment and ownership. We look forward to collaborating with Wild State as we expand our reach in storytelling.”
Added Wild State’s Hemsworth and Grayson,...
- 12/11/2023
- by Matt Grobar
- Deadline Film + TV
Jeff Shell, whose tenure running NBCUniversal came to an abrupt end last spring, is in advanced talks to join private equity firm RedBird Capital Partners.
The executive, who had already been working in an informal capacity with the firm, is in discussions to come aboard full time early next year, a rep from the company told Deadline.
The Wall Street Journal had the first report on the negotiations.
Shell exited NBCU last April after an internal investigation uncovered an “inappropriate” relationship with a colleague, who was later identified as a reporter and host with CNBC. In the months after Shell’s departure, Comcast President Mike Cavanagh took on Shell’s oversight duties and handed out promotions to key execs at NBCU like Donna Langley and Mark Lazarus.
RedBird, which is led by former Goldman Sachs banker Gerry Cardinale, has made a number of high-profile investments in entertainment and sports. It has helped bankroll Skydance Media,...
The executive, who had already been working in an informal capacity with the firm, is in discussions to come aboard full time early next year, a rep from the company told Deadline.
The Wall Street Journal had the first report on the negotiations.
Shell exited NBCU last April after an internal investigation uncovered an “inappropriate” relationship with a colleague, who was later identified as a reporter and host with CNBC. In the months after Shell’s departure, Comcast President Mike Cavanagh took on Shell’s oversight duties and handed out promotions to key execs at NBCU like Donna Langley and Mark Lazarus.
RedBird, which is led by former Goldman Sachs banker Gerry Cardinale, has made a number of high-profile investments in entertainment and sports. It has helped bankroll Skydance Media,...
- 11/27/2023
- by Dade Hayes
- Deadline Film + TV
Jeff Zucker, the former president of CNN and onetime CEO of NBCUniversal, is eying a push by right-leaning British newspaper The Daily Telegraph into the U.S. if his company’s bid to buy the title is successful.
An auction for the Telegraph Media Group, which includes magazine The Spectator, was halted this week when Zucker’s company RedBird Imi offered to clear the debts of the group’s previous owner, the Barclay family, totaling more than £1.1 billion ($1.38 billion), according to The Financial Times.
RedBird Imi is a joint venture between private-equity firm RedBird Capital, led by former Goldman Sachs partner Gerry Cardinale, and Abu Dhabi’s International Media Investments, a private investment fund run by Mansour bin Zayed al Nahyan.
Other bidders for The Telegraph include Rupert Murdoch’s News U.K., owner of London newspapers The Times and The Sun; Lord Rothermere’s Dmgt, owner of London’s Daily Mail; and Paul Marshall,...
An auction for the Telegraph Media Group, which includes magazine The Spectator, was halted this week when Zucker’s company RedBird Imi offered to clear the debts of the group’s previous owner, the Barclay family, totaling more than £1.1 billion ($1.38 billion), according to The Financial Times.
RedBird Imi is a joint venture between private-equity firm RedBird Capital, led by former Goldman Sachs partner Gerry Cardinale, and Abu Dhabi’s International Media Investments, a private investment fund run by Mansour bin Zayed al Nahyan.
Other bidders for The Telegraph include Rupert Murdoch’s News U.K., owner of London newspapers The Times and The Sun; Lord Rothermere’s Dmgt, owner of London’s Daily Mail; and Paul Marshall,...
- 11/24/2023
- by Leo Barraclough
- Variety Film + TV
The United States Football League and Dwayne Johnson’s reborn XFL have made it official as they announced plans to merge on Thursday.
No terms of any potential formal merger were unveiled, and the deal remains subject to customary regulatory approvals if it is to be completed. But the intended transaction aims to create one spring pro football league, “with substantial capabilities and resources to ensure future growth and continue to enhance the development of the collective players, coaches, and staff that are coming together,” both parties said in a statement on Thursday.
The Usfl as a nationally televised spring league began its second season on April 15, 2023, with Fox Sports and NBC Sports as media partners on a 43 regular- and postseason game schedule. The eight-team Usfl league plays in Canton, Ohio, Birmingham, Memphis, and Detroit, with former NFL Dallas Cowboys player and current Fox NFL analyst Daryl Johnston as president of football operations.
No terms of any potential formal merger were unveiled, and the deal remains subject to customary regulatory approvals if it is to be completed. But the intended transaction aims to create one spring pro football league, “with substantial capabilities and resources to ensure future growth and continue to enhance the development of the collective players, coaches, and staff that are coming together,” both parties said in a statement on Thursday.
The Usfl as a nationally televised spring league began its second season on April 15, 2023, with Fox Sports and NBC Sports as media partners on a 43 regular- and postseason game schedule. The eight-team Usfl league plays in Canton, Ohio, Birmingham, Memphis, and Detroit, with former NFL Dallas Cowboys player and current Fox NFL analyst Daryl Johnston as president of football operations.
- 9/28/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Ben Affleck’s Dunkin’ cinematic universe continues to grow.
On Tuesday night during the MTV Video Music Awards, the coffee and donuts chain debuted a new commercial, directed by and starring Affleck, and produced by the actor’s Artists Equity production label.
The new spot stars Affleck and rap star Ice Spice, who conceptualize a new drink: The Ice Spice Munchkins Drink.
“How are people going to connect you to Dunkin’?” Affleck asks the music star. “Yeah, I’m a Dunkin’ girl,” she replies, suggesting the name of the drink as a “collab.”
The brainstorming session ends with Affleck attempting to rap: “Here I am, I’m with Dunkin’…you go,” he tells Ice Spice. The spot ends with a promotion for the new drink, which launches Wednesday and is based on frozen coffee blended with pumpkin munchkins (donut holes).
The commercial is the third from Affleck and Artists Equity for Dunkin’ this year,...
On Tuesday night during the MTV Video Music Awards, the coffee and donuts chain debuted a new commercial, directed by and starring Affleck, and produced by the actor’s Artists Equity production label.
The new spot stars Affleck and rap star Ice Spice, who conceptualize a new drink: The Ice Spice Munchkins Drink.
“How are people going to connect you to Dunkin’?” Affleck asks the music star. “Yeah, I’m a Dunkin’ girl,” she replies, suggesting the name of the drink as a “collab.”
The brainstorming session ends with Affleck attempting to rap: “Here I am, I’m with Dunkin’…you go,” he tells Ice Spice. The spot ends with a promotion for the new drink, which launches Wednesday and is based on frozen coffee blended with pumpkin munchkins (donut holes).
The commercial is the third from Affleck and Artists Equity for Dunkin’ this year,...
- 9/13/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
RedBird Imi, the venture led by former NBCUniversal and CNN chief Jeff Zucker, has made its first media investment.
The $1 billion media, entertainment and sports vehicle (a joint venture between Gerry Cardinale’s RedBird and Abu Dhabi’s International Media Investments) is launching a new non-fiction content studio led by Ian Orefice, the former president and COO of Time Studios.
The new studio, called EverWonder, will finance, produce and distribute non-fiction features, documentaries and series, with a particular eye toward projects that can be leveraged into brand extensions or new intellectual property.
“I think it’s an incredibly exciting time in the non-fiction space, and we have the ability for documentaries and live events and docuseries and truth-based storytelling to live on a true global scale,” Orefice tells The Hollywood Reporter in an interview. “So every project we endeavor to do starts with that premise: Will this find a global audience?...
The $1 billion media, entertainment and sports vehicle (a joint venture between Gerry Cardinale’s RedBird and Abu Dhabi’s International Media Investments) is launching a new non-fiction content studio led by Ian Orefice, the former president and COO of Time Studios.
The new studio, called EverWonder, will finance, produce and distribute non-fiction features, documentaries and series, with a particular eye toward projects that can be leveraged into brand extensions or new intellectual property.
“I think it’s an incredibly exciting time in the non-fiction space, and we have the ability for documentaries and live events and docuseries and truth-based storytelling to live on a true global scale,” Orefice tells The Hollywood Reporter in an interview. “So every project we endeavor to do starts with that premise: Will this find a global audience?...
- 8/7/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Jeff Zucker is not shopping for CNN, according to one of the backing partners of his new media venture.
Gerry Cardinale, the private equity player and founder of RedBird Capital, partnered with International Media Investments last year to launch a $1 billion media acquisitions engine run by Zucker. Reports were rampant in June that Zucker was looking to take CNN off the hands of Warner Bros. Discovery, after running the news network for decades before resigning in 2022 over a consensual workplace affair.
“No,” Cardinale said on Thursday when asked if he and Zucker were looking to buy CNN, speaking on stage at the Variety and Sportico Sports and Entertainment Summit in West Hollywood. “I would not have the longevity that I’ve had if I ran my business running around town talking about deals in a way that’s, frankly, disrespectful to David Zaslav. I’m kind of amused and irritated by it.
Gerry Cardinale, the private equity player and founder of RedBird Capital, partnered with International Media Investments last year to launch a $1 billion media acquisitions engine run by Zucker. Reports were rampant in June that Zucker was looking to take CNN off the hands of Warner Bros. Discovery, after running the news network for decades before resigning in 2022 over a consensual workplace affair.
“No,” Cardinale said on Thursday when asked if he and Zucker were looking to buy CNN, speaking on stage at the Variety and Sportico Sports and Entertainment Summit in West Hollywood. “I would not have the longevity that I’ve had if I ran my business running around town talking about deals in a way that’s, frankly, disrespectful to David Zaslav. I’m kind of amused and irritated by it.
- 7/13/2023
- by Matt Donnelly
- Variety Film + TV
Author Mo Willems, Stampede Ventures And RedBird Capital Unite In New Content Company, Hidden Pigeon
Author Mo Willems, Stampede Ventures, and RedBird Capital Partners have formed Hidden Pigeon Company, a multiplatform kids and family content venture that will leverage Willems’ best-selling catalogue of children’s books and intellectual property across all entertainment platforms.
Willems is a an award-winning author and illustrator. His work includes the Elephant and Piggie book series, as well as The Pigeon, star of his own book series, including the recently-published The Pigeon Will Ride the Roller Coaster! (September 2022). Willems has been awarded three Caldecott Honors for his books Don’t Let the Pigeon Drive the Bus!, Knuffle Bunny: A Cautionary Tale and Knuffle Bunny Too: A Case of Mistaken Identity.
He was the inaugural Kennedy Center Education Artist-in-Residence (2019-2022) and continues to collaborate in classical music, opera, comedy concerts, dance, and digital works with the National Symphony Orchestra, Washington National Opera, Ben Folds, Renée Fleming, and others.
He began his...
Willems is a an award-winning author and illustrator. His work includes the Elephant and Piggie book series, as well as The Pigeon, star of his own book series, including the recently-published The Pigeon Will Ride the Roller Coaster! (September 2022). Willems has been awarded three Caldecott Honors for his books Don’t Let the Pigeon Drive the Bus!, Knuffle Bunny: A Cautionary Tale and Knuffle Bunny Too: A Case of Mistaken Identity.
He was the inaugural Kennedy Center Education Artist-in-Residence (2019-2022) and continues to collaborate in classical music, opera, comedy concerts, dance, and digital works with the National Symphony Orchestra, Washington National Opera, Ben Folds, Renée Fleming, and others.
He began his...
- 5/10/2023
- by Bruce Haring
- Deadline Film + TV
Gerry Cardinale’s RedBird Capital Partners and Greg Silverman’s Stampede Ventures have teamed with popular kids author Mo Willems to launch Hidden Pigeon Company as a kids and family content producer.
Former Lightstorm Entertainment exec Kathy Franklin will head up the new venture as CEO as Hidden Pigeon Company looks to adapt and leverage the Willems library of books for cross-platform content. That includes product for TV, film, digital, gaming, live events, location-based entertainment, publishing and consumer products.
“It is my hope to create a similar bit of surprise and delight in the fabric of everything we make or do. I am thrilled to have found wonderful collaborative partners to make that hope a reality,” Willems said in a statement.
Willems has written and illustrated more than 50 books for children, including the Pigeon, Knuffle Bunny and Gerald and Piggie series. He began his career as a writer and animator...
Former Lightstorm Entertainment exec Kathy Franklin will head up the new venture as CEO as Hidden Pigeon Company looks to adapt and leverage the Willems library of books for cross-platform content. That includes product for TV, film, digital, gaming, live events, location-based entertainment, publishing and consumer products.
“It is my hope to create a similar bit of surprise and delight in the fabric of everything we make or do. I am thrilled to have found wonderful collaborative partners to make that hope a reality,” Willems said in a statement.
Willems has written and illustrated more than 50 books for children, including the Pigeon, Knuffle Bunny and Gerald and Piggie series. He began his career as a writer and animator...
- 5/10/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Mo Willems is stepping further into the multimedia entertainment world.
The globally best-selling and award-winning children’s book author will team with Stampede Ventures and RedBird Capital to form Hidden Pigeon Company. Hpc will be a multiplatform kids and family content company which will use Willems’ catalog of books and IP for film, television, digital media, gaming, live events, location-based experiences, publishing, merchandising and more.
“The Hidden Pigeon Company takes its name from how kids and former kids delight in finding The Pigeon hidden in every one of my books,” Willems said. “It is my hope to create a similar bit of surprise and delight in the fabric of everything we make or do. I am thrilled to have found wonderful collaborative partners to make that hope a reality.”
This follows Willems’ existing producing partnership with Stampede Ventures, including two HBO Max specials “Naked Mole Rat Gets Dressed: The Underground Rock Experience...
The globally best-selling and award-winning children’s book author will team with Stampede Ventures and RedBird Capital to form Hidden Pigeon Company. Hpc will be a multiplatform kids and family content company which will use Willems’ catalog of books and IP for film, television, digital media, gaming, live events, location-based experiences, publishing, merchandising and more.
“The Hidden Pigeon Company takes its name from how kids and former kids delight in finding The Pigeon hidden in every one of my books,” Willems said. “It is my hope to create a similar bit of surprise and delight in the fabric of everything we make or do. I am thrilled to have found wonderful collaborative partners to make that hope a reality.”
This follows Willems’ existing producing partnership with Stampede Ventures, including two HBO Max specials “Naked Mole Rat Gets Dressed: The Underground Rock Experience...
- 5/10/2023
- by Scott Mendelson
- The Wrap
Although we’re still six months away from the beginning of the pro football season, the NFL never stops doing business. The league has announced a new partnership with RedBird Capital to create EverPass Media, which will be responsible for distributing its out-of-market games package NFL Sunday Ticket to bars and restaurants starting in 2023.
This is the first year that Sunday Ticket will reside in its new streaming home, YouTube TV. The live TV streamer won the rights to the package in December, but because business like bars and restaurants frequently do not carry streaming services, the league was forced to seek out another partner to distribute Sunday Ticket games to commercial establishments.
Sign Up $72.99 / month tv.youtube.com
“Making our games as widely available as possible has been the bedrock of our media strategy and Sunday Ticket’s presence in bars, restaurants and other commercial venues provides millions of...
This is the first year that Sunday Ticket will reside in its new streaming home, YouTube TV. The live TV streamer won the rights to the package in December, but because business like bars and restaurants frequently do not carry streaming services, the league was forced to seek out another partner to distribute Sunday Ticket games to commercial establishments.
Sign Up $72.99 / month tv.youtube.com
“Making our games as widely available as possible has been the bedrock of our media strategy and Sunday Ticket’s presence in bars, restaurants and other commercial venues provides millions of...
- 3/29/2023
- by David Satin
- The Streamable
The NFL is partnering with Gerry Cardinale’s RedBird Capital on a new venture that will offer NFL games to commercial venues like bars, restaurants and hotels.
The new company is called EverPass Media, and has a multi-year license to sell the NFL’s Sunday out-of-market TV package NFL Sunday Ticket to commercial venues. The NFL says it will be offered on a non-exclusive basis through all cable and satellite TV companies.
YouTube has the consumer streaming rights to Sunday Ticket beginning with next season.
“Making our games as widely available as possible has been the bedrock of our media strategy and Sunday Ticket’s presence in bars, restaurants and other commercial venues provides millions of fans a way to watch all out-of-market games on Sunday afternoons,” said Brian Rolapp, the NFL’s Chief Media and Business Officer. “We look forward to working with EverPass Media to expand the Sunday...
The new company is called EverPass Media, and has a multi-year license to sell the NFL’s Sunday out-of-market TV package NFL Sunday Ticket to commercial venues. The NFL says it will be offered on a non-exclusive basis through all cable and satellite TV companies.
YouTube has the consumer streaming rights to Sunday Ticket beginning with next season.
“Making our games as widely available as possible has been the bedrock of our media strategy and Sunday Ticket’s presence in bars, restaurants and other commercial venues provides millions of fans a way to watch all out-of-market games on Sunday afternoons,” said Brian Rolapp, the NFL’s Chief Media and Business Officer. “We look forward to working with EverPass Media to expand the Sunday...
- 3/29/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Springhill, the production, consumer product and brand consultancy company founded by LeBron James and Maverick Carter, is cutting some staffers while saying it’s poised to expand its total number of employees this year.
“This was an internal reorganization,” a spokesperson for the Los Angeles-based entertainment firm said. “10 positions were eliminated, and we are hiring 24 more people. The positions were largely administrative, and we are building in sales and creative.” The company has about 200 employees currently.
CEO Carter informed staffers of the layoffs and reorganization on Monday. The Springhill Company, founded in 2020 with a reported 100 million in backing from investors, rolls up multiple entertainment firms backed by James and Carter.
Those three divisions include the namesake production company, Springhill Entertainment (originally founded in 2015), which backs projects like Warner Bros.’ Space Jam: A New Legacy and the House Party revival, Adam Sandler’s basketball film Hustle on Netflix, game show The Wall...
“This was an internal reorganization,” a spokesperson for the Los Angeles-based entertainment firm said. “10 positions were eliminated, and we are hiring 24 more people. The positions were largely administrative, and we are building in sales and creative.” The company has about 200 employees currently.
CEO Carter informed staffers of the layoffs and reorganization on Monday. The Springhill Company, founded in 2020 with a reported 100 million in backing from investors, rolls up multiple entertainment firms backed by James and Carter.
Those three divisions include the namesake production company, Springhill Entertainment (originally founded in 2015), which backs projects like Warner Bros.’ Space Jam: A New Legacy and the House Party revival, Adam Sandler’s basketball film Hustle on Netflix, game show The Wall...
- 2/13/2023
- by Erik Hayden
- The Hollywood Reporter - Movie News
Click here to read the full article.
It’s hard to believe, but at the beginning of this year Bob Iger was retired from Disney, Netflix seemed like an unstoppable juggernaut in the entertainment business, and ViacomCBS was still a thing (hello, Paramount!). For the entertainment business, 2022 was a year of change and transformation, in corporate names, in executive leadership, and in strategy. In an “everything old is new again” moment, recession fears and subscription slowdowns forced major pivots to familiar game plans. And in one critical area, it seemed, the macroeconomy may as well not be a problem. Provided you’re a A-lister, at least.
Saddest Trend: Layoffs Everywhere
Warner Bros. Discovery says it could spend as much as 1.1 billion on restructuring charges. AMC Networks says it’s cutting 20 percent of its employees. NBCUniversal is offering early retirement packages in anticipation of cuts in the coming months. Paramount has...
It’s hard to believe, but at the beginning of this year Bob Iger was retired from Disney, Netflix seemed like an unstoppable juggernaut in the entertainment business, and ViacomCBS was still a thing (hello, Paramount!). For the entertainment business, 2022 was a year of change and transformation, in corporate names, in executive leadership, and in strategy. In an “everything old is new again” moment, recession fears and subscription slowdowns forced major pivots to familiar game plans. And in one critical area, it seemed, the macroeconomy may as well not be a problem. Provided you’re a A-lister, at least.
Saddest Trend: Layoffs Everywhere
Warner Bros. Discovery says it could spend as much as 1.1 billion on restructuring charges. AMC Networks says it’s cutting 20 percent of its employees. NBCUniversal is offering early retirement packages in anticipation of cuts in the coming months. Paramount has...
- 12/23/2022
- by Alex Weprin
- The Hollywood Reporter - Movie News
It’s been just under a year since Jeff Zucker resigned from his position as president of CNN Worldwide after his relationship with CNN chief marketing officer Allison Gollust became public knowledge. That’s not the most dignified way to exit your job of nine years, but Zucker has landed on his feet as CEO of RedBird Imi, a new joint investment venture between International Media Investments and RedBird Capital Partners.
“I’ve spent 35 years running media businesses at the intersection of news, sports and entertainment, creating new brands and resurrecting old ones,” Zucker said in a Tuesday press release. “That experience has given me unparalleled perspective for this unique time in media, and the combination of the RedBird and Imi capital and strategic discipline, combined with my operational experience, will give this joint venture a unique advantage in the current media landscape.”
Before Bob Iger returned to Walt Disney Co.
“I’ve spent 35 years running media businesses at the intersection of news, sports and entertainment, creating new brands and resurrecting old ones,” Zucker said in a Tuesday press release. “That experience has given me unparalleled perspective for this unique time in media, and the combination of the RedBird and Imi capital and strategic discipline, combined with my operational experience, will give this joint venture a unique advantage in the current media landscape.”
Before Bob Iger returned to Walt Disney Co.
- 12/13/2022
- by Wilson Chapman
- Indiewire
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