DreamWorks Animation SKG Studios

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Ricky Laubenstein

DREAMWORKS ANIMATION SKG

dream

A Brief History

Steven Spielberg, Jeffrey Katzenberg, and David Geffen founded DreamWorks SKG in 1994. The “S”, “K”, and “G” comes from the first letter of the last names of the founders. The combination of Spielberg and Katzenberg’s directing prowess, with Geffen’s unmatched musical soundtrack production, turned the company into an instant powerhouse. Their focus was to create and distribute animated feature films. They made partnerships with Microsoft and special effects company PDI in the mid 90’s to increase production quality. The company was eventually sold to Paramount but has created nearly thirty films since it was founded.

Corporate Figures

Jeffrey Katzenberg- Chief Executive Officer and Director

jeffrey

Despite co-founding the company, Jeffrey has only served as Chief Executive Officer and member of the Board of Directors since 2004.  He has a long history of success including being chairman of the board of The Walt Disney Studios for ten years from 1984 to 1994. There he produced several smash hits including Aladdin, The Little Mermaid, and The Lion King.

Lew Coleman- President and acting Chief Financial Officer

Lew

Coleman has a rich financial back round working at Wells Fargo Bank for thirteen years and then another ten years at Bank of America where he served as Chairman and Head of Capital Markets. In 2001, he was blessed with the opportunity to be in the Northrop Grumman Board of Directors. By 2004, he became the director of DreamWorks and after a year was promoted to President of DreamWorks Animation.

Ann Daly- Chief Operating Officer

Ann

Ann’s experience is un-surmounted with fourteen years of work in The Walt Disney Company. There she developed strategies for the marketing, sales, and distribution for the home video division.  She was quickly appointed president of Buena Vista Home Video. She then moved to be the head of the animation division of DreamWorks SKG in 1997 where she focused more on the production side of things.  After several successful years she was promoted to chief operating officer in 2004.

Anne Globe- Chief Marketing Officer

anne globe

After graduating at Syracuse University, Globe got her start marketing at The Walt Disney Studios. With her wide set of skills and passion it was not long until she moved to be Director of National Promotions for Universal Pictures and Universal Studios Hollywood. Shortly after she was promoted to Vice President of Promotions at MCA/Universal. In 1996, Globe became a part of the DreamWorks team developing promotional campaigns for DreamWorks Animation feature films and creating consumer products. Anne Globe is mostly known for her strategic partnerships and long lasting relations with Hewlett Packard and Intel.

Financial Report

DreamWorks Animation SKG released their financial statement for the fourth quarter (2012) and compared them to the last four years.  There was a steady rise in equity starting at one billion in 2008 to 1.3 billion in 2011, however it platued at 1.3 again in 2012.  Yet total revenues and total assets did increase from the previous year, which will instill investor confidence.

Recent Projects

The Croods

croods

“The Croods” takes place in pre-historic time and is about a family who lost their cave and no longer has a home. The movie, recently released on March 22 2013, follows their adventure of discovery through an unknown world. Starring Emma Stone, Nicolas Cage, and Ryan Reynolds it is a story that the whole family will enjoy. It was the number one ranked movie the opening weekend making a whopping $43 million. It grossed more over seas with a total of $204 million in foreign countries and $125 million domestically adding up to a worldwide gross of nearly $330 million. The marketing strategy was certainly geared towards kids with a partnership with Nickelodeon.  The movie was featured under Nickelodeon’s “Nicksclusives” and they consistently aired the movie trailer on the channel in between episodes.

<iframe width=”560″ height=”315″ src=”http://www.youtube.com/embed/VeG3Zmk08UU” frameborder=”0″ allowfullscreen></iframe>

Rise of the Guardians

rise

“Rise of the Guardians” is another kid-oriented animated feature film that involves the holiday heroes we all know and love combining forces to stop evil and preserve imagination for the world. It was released last November 21st .Starring Hugh Jackman and Alec Baldwin the movie debut at a number four ranking the opening week grossing at nearly $23 million. It seems to be a re-occurring pattern for DreamWorks as foreign sales nearly doubled domestic sales with over $200 million with a total gross of over $300 million worldwide.  An essential element to the movie as a whole was the consumer products that went with it.  Having action figures of characters in the movie is a highly effective way of marketing and keeps it relevant to the kids. DreamWorks also made a unique business move with the release of the DVD around Easter time. Since the Easter bunny was one of the main characters in the story, the DVD came with two hopping eggs. It may seem miniscule, but even little things like eggs make the DVD more memorable and attractive for consumers.

 

action figure

-Rise of the Guardians action figures

Puss in Boots

puss

“Puss in Boots” was released back on October 28, 2011 and is based off the supporting character in the “Shrek” movies. The story takes place long before Puss met Shrek and involves him saving his town with the help of Kitty Softpaws and Humpty Dumpty. The movie grossed $34 million opening weekend with a number one ranking. Domestic sales barely broke over production costs with nearly $150 million but almost tripled that with foreign sales at over $405 million. The marketing strategy fit well with the on your feet action in Puss in Boots. DreamWorks developed a series of games that involved different elements of the movie. You can be Puss and climb up the beanstalk in the game “Beanstalk Boost” or participate in a dance competition in the game “Dancing Boots”. You can even take a shot at directing with the game “Dance Fight Mix Master” where you pick different clips of the movie to mesh together and make them funny. Having interactive games gives kids a different perspective on the movie and creates an emotional attachment to the characters. With a spin-off movie like this it not only elaborates the “Shrek” series but also further promotes DVD sales and the movie “Shrek: The Final Chapter”. Now when consumers watch the classic “Shrek” tales there is so much more behind the character Puss in Boots because they now know his story.

<iframe width=”560″ height=”315″ src=”http://www.youtube.com/embed/Znuq-daWfLE” frameborder=”0″ allowfullscreen></iframe>

 

DreamWorks Animation SKG for the Future

DreamWorks Animation SKG has a long history of creative ingenuity.  They have seemed to dominate the animated feature film genre for quite some time now. The company has shown no signs of stopping and will continue to grow and develop new stories as well ass continue their spin-offs to keep their classics relevant.

Work Cited

[1] Company Information, Movies, Corporate figure heads and pictures http://www.dreamworksanimation.com/company

[2] Company Press http://topics.nytimes.com/top/news/business/companies/dreamworks-animation-skg-inc/index.html

[3] Company Timeline http://www.referenceforbusiness.com/history2/97/DreamWorks-SKG.html

[4] Company Insight http://www.closinglogos.com/page/DreamWorks+Pictures

[5] Company box office numbers http://www.boxofficemojo.com/

[6] Company Future

http://www.denofgeek.com/movies/24929/what-does-the-future-hold-for-dreamworks-animation

 

 

DreamWorks SKG Studios

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by Emily Moomey

Dreamworks-Logo– Courtesy of dreamworksstudios.com [1]

DreamWorks Studios
100 Universal City Plaza
Universal City, CA 91608
818-733-7000

Company Overview

DreamWorks Studios is a motion picture company that focuses primarily on films and television programming. The original studio was founded In 1994 by Steven Spielberg, Jeffrey Katzenberg, and David Geffen as an independently owned entity.  The studio had initial success with it’s hit television show “Spin City” and went on to release it’s first film “The Peacemaker” in 1997 [2]. The company also garnered high financial success with animated feature length films. In 2004 DreamWorks Animation was spun-off and became its own publicly traded company and Katezenberg left with the animation division to became the CEO.  In 2006 the studio was sold to Viacom, the parent company of Paramount Pictures, but after two years of partnership DreamWorks left Paramount and signed a deal with the Reliance ADA Group [3]. The current DreamWorks Studios was co-created by Steven Spielberg and Stacey Snider along with funding from the Reliance ADA Group.

Key Figures

spielberg_steven_websiteSteven Spielberg – Principal Partner and Co-Chairman [4]

snider_stacey_websiteStacey Snider – Principal Partner/Co-Chairman/CEO [5]

small_jeff_websiteJeff Small – Chief Operating Officer [6]

 Financials

DreamWorks Studios was created with initial financial backings from the original three founders. Spielberg, Katzenberg, and Gaffen all contributed $33 million and co-founder of Microsoft Paul Allen fronted $500 million to kick start the company. [7] The company worked hard to retain it’s ownership and remain an independent film studio, but some hard-hitting flops in its later years at the box office brought the company into concerning debt. In 2006 Spielberg and his constituents sold DreamWorks to Viacom and Paramount pictures for $1.6 billion, which included $400 million of debt assumptions. [8] Under Paramount the studio produced a large number of successful and critically acclaimed films. Still, just two years later Speilberg closed a deal with the Reliance ADA Group for an investment of $500 million, while J.P. Morgan Chase & Co. provided $700 million towards another independent venture. [9] Since 2008 the studio has again struggled at the box office and had to restructure it’s finances. Each year the company has tried to negotiate for more money from the Reliance ADA Group, and most recently just received another $200 million investment from them. [10]

Filmography

Although the company has had some financial struggles, DreamWorks Studios has produced many unforgettable films. In its early stages, Spielberg released “Saving Private Ryan” which earned him the Oscar for best Director that year along with four other wins out of the eleven nominations for the film. Additionally, it was the highest grossing domestic release of that year. 220px-Saving_Private_Ryan_poster[11] In 1999 the studio released “American Beauty” starring Kevin Spacey which kicked off a string of box office hits. These included “The Contender”, “Castaway”, “Meet the Parents”, “Almost Famous” and “Gladiator” which won the 2000 Oscar for Best Picture. With these films came a very successful year at the box office, earning the studio over $2 billion worldwide. [12] While the animation division was still a part of DreamWorks Studios they produced “Shrek” starring Mike Meyers and Cameron Diaz which brought home the first ever Oscar for Best Animated Feature Film. Over the years, the company also created such box office hits as “Dreamgirls” and the “Transformers” and “Paranormal Activity” franchises. 215px-Help_posterMost recently the biggest buzz coming from the studio was for “The Help” which earned over $200 million at the box office and Spielberg’s “Lincoln” that just earned Daniel Day Lewis an Oscar for Best Actor at the 2013 Academy Awards. [13]

Click on this link to view the “Lincoln” trailer – [14]

In the News

When DreamWorks Studios transitioned back into an independent company they secured a deal with The Walt Disney Company to distribute their films worldwide. Just last month, in March 2013 it was confirmed that Disney along with Showtime renewed an output deal with the studio through 2018. The agreement states “DreamWorks Studios’ films theatrically released by Disney through 2018 will air across Showtime, The Movie Channel and Flix, as well as its multiplex channels”. [15]

In film news, DreamWorks Studios has decreased the amount of films released in the upcoming years significantly compared to the number they have been known to create. Previously, the company would release on average six films a year. In 2012 they only released two, “Lincoln” and “People Like Us”. They have the same plans for 2013 with Vince Vaughn’s comedy “The Delivery Man” and a film about the Wikileaks scandal called “The Fifth Estate”. [16]

Click here to view a clip about the upcoming film “The Fifth Estate” [17]

However, there seems to be hope for the future. straight_no_chaser_0The studio has announced that it has acquired the rights to some exciting new films, including the script based on the true story of the a Capella group Straight No Chaser, which the film will be titled. It will tell the story of the groups rise to success through YouTube. [18] Additionally, there  are two other films in the works for the studio. The first is “Need For Speed”, a racing action movie based on the Electronic Arts video game set to be released in 2014. Just recently Michael Keaton signed on to star in the film. [19] The second is not yet set for production but DreamWorks is working to buy the script for  “Merry Men”. The company just offered a six-figure number for the rights to the film. Although there have been numerous versions of the Robin Hood story, this film looks to attack it from the perspective of his fellow merry men. [20]

Finally, just this month it was announced that the studio obtained the life rights to the Boston Globe’s “Spotlight Team”, the news reporters that won a Pulitzer prize for  revealing the cover-up of the pedophile priests in the Catholic churches of Massachusetts. Tom McCarthy and Josh Singer have signed on to co-write the script and the studio will work with Participate to produce the film. Josh Singer also wrote the script for the “The Fifth Estate” for DreamWorks. [21]

Sources
[1] Dream Works logo
[2] DreamWorks Studios
[3] New York Times – A Studio’s Real Life Drama
[4] Spielberg photo
[5] Snider photo
[6] Small photo
[7] DreamWorks Studios
[8] reuters.com – Paramounts DreamWorks Come True
[9] reuters.com – DreamWorks Completes Deal with Reliance ADA
[10] LA Times – DreamWorks Studios Stays Alive
[11] DreamWorks Studios History
[12] DreamWorks Studios History
[13] DreamWorks Studios History
[14] Lincoln Trailer
[15] deadline.com – Showtime and Disney Renew
[16] DreamWorks Studios
[17] News on “The Fifth Estate”
[18] Straight No Chaser
[19] “Need for Speed”
[20] deadline.com – Merry Men
[21] Upcoming film release for Catholic church scandal

Paramount Pictures

Posted on by 
by Alejandro Navas
Courtesy of www.closinglogos.com

Courtesy of www.closinglogos.com

5555 Melrose Ave, Los Angeles, CA 90038

(323) 956-8398

History [1]

Founding Fathers Courtesy of Paramount Pictures

Founding Fathers
Courtesy of Paramount Pictures

In 1912, Adolph Zukor acquired the U.S distribution rights to Queen Elizabeth, a silent French film, though his Famous Players Film Company. His success inspired Jesse Lasky and Cecil DeMille to team up and make The Squaw Man, the first Laky Feature Play Company film and first feature-length Hollywood film. In 1916, these two companies merged. Soon after, the new Famous Players-Lasky Corporation merged with a distributor called Paramount Pictures to form Paramount Famous Lasky Corporation, the first company that was able to control all aspects of filmmaking (production, distribution and exhibition). This company went bankrupt through the great depression in 1932, but Zukor reorganized the company, named it Paramount Pictures Inc. and brought success back to it.

Paramount Pictures Today

Paramount Pictures Studios Courtesy of magazine.uc.edu

Paramount Pictures Studios
Courtesy of magazine.uc.edu

Paramount Pictures Corporation is owned by and is a branch of the media conglomerate Viacom. Paramount produces and distributes television and film material that has been very successful over the years, allowing the company to be ranked as one of the most lucrative and largest movie studios. It is the fifth oldest film studio in the world and the last major film studio located in Hollywood district, California. Paramount Pictures is divided into eight sub-divisions: Paramount Digital Entertainment, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc, Paramount Studio Group, Worldwide Television Distribution, Paramount Famous Productions and Paramount Parks & Resorts [2]. In addition, Paramount Pictures is part of the Paramount Motion Picture Group, which also includes Paramount Vintage, Paramount Classics, Paramount Animation, Insurge Pictures, MTV Films and Nickelodeon Movies [3].

Executives [3]

Brad Grey

Brad Grey Courtesy of www-deadline-com.vimg.net/

Courtesy of www-deadline-com.vimg.net

Grey is the Chairman and Chief Executive Officer of Paramount Pictures. He is responsible of the development and production of all the feature films included in the Paramount Motion Picture Group. His responsibilities also include the worldwide business operations for all the sub-divisions of Paramount Pictures. Grey produced the award winning series The Sopranos and he is the winner of various awards including multiple Golden Globes and Emmy Awards.  He is also the founder of Brillstein-Grey Entertainment, Hollywood’s most successful management and production firm according to Forbes.

Rob Moore

Courtesy of www.hollywoodreporter.com

Courtesy of www.hollywoodreporter.com

The Vice Chairman position was given to Moore in 2008. His responsibilities ensue to oversee Paramount’s Worldwide Marketing, Distribution, Home Entertainment, Digital, Interactive, Television, Licensing, and Business Affairs divisions. Before working for Paramount, Moore worked thirteen years at The Walt Disney Studio and then founded Revolution Studios.

Frederick Huntsberry

Courtesy of www.123people.com

Courtesy of www.123people.com

In 2006, Huntsberry was named Chief Operating Officer. He takes care of the worldwide strategic planning and operations for the studio. Prior to working at Paramount Pictures, Huntsberry worked NBC Universal, where he held the President position.

Adam Goodman

Courtesy of thezog.wordpress.com

Courtesy of thezog.wordpress.com

Goodman has been the President of Paramount Film Group since 2009. Prior to working at Paramount Pictures, Goodman was the President of Production at Dreamkworks Studios.

Activity

Hansel & Gretel: Witch Hunters

Courtesy of IMDb.com

Courtesy of IMDb.com

Hansel & Gretel: Witch Hunters Trailer

Hansel & Gretel was released on January 25th, 2013.  This film is a tweaked version of the fairy tale Hansel & Gretel, where they become bounty hunters and follow and kill witches all around the world. This film made a staggering $19.7 million gross on the opening weekend, placing it in the number one spot at the time. The following weekends, the weekend gross plummeted down to $9 million and continued to drop constantly. The movie made its budget back domestically, making $55.4 million when the production budget was $50 million. Where Paramount succeeded immensely with this film was in the foreign market, making $163.8 million, more than triple the budget. This totals $219.2 million worldwide [4]. Paramount’s foreign marketing and distribution, as well as good reviews allowed this movie to be profitable.

Top Gun 3D

Courtesy of www.beyondhollywood.com

Courtesy of www.beyondhollywood.com

Paramount re-released the famous 1982 Top Gun starring Tom Cruise on February 8th, 2013. They re-mastered the film into IMAX 3D and also released it in Blu-ray [5]. The re-mastering of this film is cheaper than the actual production, so Paramount is smart to use old material, adapt new technology that audiences are attracted to, which is relatively cheaper, and then most likely make a profit out of doing this. On it’s release weekend, Top Gun rounded the top 10s with $2 million including both ticket and Blu-ray sales [6].

 

 

G.I. Joe: Retaliation

Courtesy of IMDb.com

Courtesy of IMDb.com

G.I. Joe: Retaliation Trailer

Released on March 28th, 2013, G.I. Joe: Retaliation, starring Dwayne Johnson, D.J Cotrona and Channing Tatum, is about the G.I. Joes fighting their enemy Cobra and at the same time survive threats from the government that could wipe them out. This is the second G.I. Joe produced under Paramount Pictures, the first one was G.I. Joe: The Rise of Cobra back in 2009 [7]. Retaliation’s opening weekend gross was only $10.5 million, while it’s second weekend gross increased to $55.0 million. Worldwide, Retaliation has already made its budget of $130 million back, with $231.8 million. This film is only on its second week, therefore if weekend gross is constant, it will generate a lot of profit for Paramount worldwide [8].

Future


Hansel & Gretel:  Witch Hunters Sequel [9]

On March 18th, 2013, after Hansel & Gretel reached $200 million worldwide, Paramount and MGM confim that a sequel is in development. The revenue that the film is generating hints that audiences are interested in this film, and would probably watch a sequel. As said before, even though this film only opened with $19.6 million domestically, most of the profit is being generated overseas. The producers of the first film, Will Farell, Adam McKay and Kevin Messick are expected to return and produce the second one. This signals the beginning of a franchise.

Satellite Movie File Delivery To Theaters [10]

Courtesy of www.deadline.com

Courtesy of www.deadline.com

On March 7th, Paramount signed on for satellite delivery of digital movies. A delivery service like such, would be cheaper and faster than what is used today. Today’s delivery consist of the physical transportation of harddrives to cinemas, but with satellite delivery that job would be cut. Paramount joined this initiative with three production companies and three major theater chains. This initiative is being carried out by the Digital Cinema Distribution Coalition.

Sources

[1] The Paramount Story http://www.paramount.com/100-years-paramount/paramount-story

[2] Paramount Divisions http://www.paramount.com/inside-studio/studio/divisions

[3] Paramount Motion Picture Group http://www.paramount.com/inside-studio/studio/executives/meet-executives/brad-grey

[4] Box Office Mojo: Hansel & Gretel http://www.boxofficemojo.com/movies/?id=hanselandgretelwitchhunters.htm

[5] Top Gun 3D IMAX http://www.imax.com/movies/m/top-gun-an-imax-3d-experience/

[6] Deadline – Top Gun 3D http://www.deadline.com/2013/02/eastern-winter-storm-could-devastate-box-office-as-movie-theatre-chains-shut-down/

[7] IMDb – G.I. Joe http://www.imdb.com/title/tt1583421/?ref_=sr_1

[8] Box Office Mojo: G.I. Joe: Retaliation http://www.boxofficemojo.com/movies/?page=main&id=gijoe2.htm

[9] Deadline – Hansel & Gretel Sequel http://www.deadline.com/2013/03/hansel-and-gretel-witch-hunters-sequel/

[10] Deadline – DCDC http://www.deadline.com/2013/03/disney-paramount-lionsgate-join-wb-uni-for-satellite-movie-delivery-to-theatres/

Liberty Media Corporation

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By McCauley Braun

Picture courtesy of Liberty Media Corporation

Picture courtesy of Liberty Media Corporation

Liberty Media Corporate Office and Headquarters

12300 Liberty Boulevard

Englewood, Colorado  80112

Telephone: (720) 875-5400

Company Overview

Liberty Media Corporation is a mass media and communications company that owns a wide range of companies within the entertainment business. Some of it’s subsidiaries include True Position, Inc., Atlanta National League Baseball Club, Inc., Live Nation, Barnes and Noble, and Sirius XM. Liberty Media Corporation also holds minor equity investments in Time Warner Inc. and Viacom.

Management Team

John Malone – Chairman

Picture Courtesy of Liberty Media, Inc.

Picture Courtesy of Liberty Media, Inc.

Mr. John Malone has been the chairman of Liberty Media Corporation since 1990, and the chairman of Liberty Global, Inc., Liberty Media Corporation’s cable provider – which happens to be the leading international cable operator. Mr. Malone has received many awards throughout his career, including the NCTA Vanguard Award in 1983, which is considered one of the highest honors and most prestigious awards in cable television [1].

Greg Maffei – President and Chief Executive Officer

Picture Curtesy of Liberty Media, Inc.

Picture Courtesy of Liberty Media, Inc.

Mr. Greg Maffei has been Chief Executive Officer since 2006.  Mr. Maffei  serves as the chairman for some of Liberty Media’s largest assets including Starz, Live Nation, and Sirius XM. In addition, Mr. Maffei also serves as President and Chief Executive Officer of Liberty Interactive. Under Mr. Maffei’s delegation, Liberty Media Corporation has exceeded some of the major competing media companies in the industry [1].

Richard N. Baer – Senior Vice President and General Counsel

Picture Curtesy of University of Denver

Picture Courtesy of University of Denver

Mr. Richard N. Baer was just recently elected Senior Vice President and General Counsel in January 2013 [1]. Mr. Baer is responsible for overseeing Liberty Media Corporation’s legal, regulatory, and compliance matters [2].

Mr. David J. A. Flowers – Senior Vice President and Managing Director or Alternative Investments

Picture Courtesy of Liberty Interactive, Inc.

Picture Courtesy of Liberty Interactive, Inc.

Mr. David J. A. Flowers has served as senior vice president and managing director of alternative investments since November 2011 [1].

Albert E. Rosenthaler – Senior Vice President (Not Pictured) Mr. Albert E. Rosenthaler has served as senior vice president of Liberty Media Corporation since May 2007. Mr. Rosenthaler is responsible for overseeing the company’s corporate tax functions [1].

Christopher W. Shean – Senior Vice President and Chief Financial Officer (Not Pictured) Mr. Christopher W. Shean has served as senior vice president and chief financial officer since January 2011. As senior vice president and chief financial officer, he oversees all accounting and treasury functions at Liberty Media Corporation [1].

A Brief History

Liberty Media’s beginning was it’s merging with Tele-Communications (TCI) in the late-90s [3]. In 1998, Tele-Communications merged with AT&T, which consequently made Liberty Media Interactive, a media conglomerate branch of Liberty Media Corporation that creates trading stock, a tracking stock of AT&T in the New York Stock Exchange. However, in 2001, Liberty Interactive split from AT&T and began trading stock under it’s own name. In 2003, Liberty Interactive merged with Ascent Media Group and Liberty Satellite and Technology, Inc. It wasn’t until 2011 that Liberty Interactive separated from Liberty Media Corporation which held all of the business, assets, and liabilities previously attributed to Liberty Interactive [4].

Quarterly Report – Year End 2012 Financial Report

On January 11, Liberty Media Corporation completed it’s official separation from Starz, and Liberty Media Corporation received $1.2 billion in compensation. In addition, the FCC approved Liberty Media Corporation’s complete control over Sirius XM. Consequently, Liberty Media Corporation purchased 50 million more shares in Sirius XM which made Liberty Media Corporation 50% owner, and therefore resulted in consolidation. Liberty Media Corporation also purchased more shares in Live Nation which increased Liberty Media Corporation’s ownership by 27%.

Overall, Liberty Media’s revenue decreased 52% to $426 million in the fourth quarter, and decreased annually 32% to $2 billion. Additionally, operating income before depreciation and amortization decreased 76% to $77 million for the quarter, and decreased 58% to $450 million a year. Lastly, operating income decreased 91% to $25 million for the quarter, and 66% to $326 million annually. According to Liberty Media Corporation, the loss of revenue can be attributed to deferred revenue costs of one of their assets, True Position, Inc., the prior year [5].

Liberty Media Corporation’s Assets Today

Liberty Media Corporation holds a myriad of assets both directly and indirectly through joint ventures, partnerships, common stock investments, and assets convertible into common stock.

Associated Partners, L.P (37%): An investment and operating investment agency that helps customers receive long-term, risk balanced tax refunds.

Atlanta National League Baseball Club, Inc. (100%): Owner of the Atlanta Braves and their assets which include some minor league baseball clubs.

Barnes & Noble, Inc. (17%): The world’s largest bookstore operating in 50 states as well as online. Barnes & Noble, Inc. is also a Fortune 500 company.

CenturyLink, Inc. (<1%): Provider of broadband, voice, and video services. CenturyLink, Inc. operates in 37 states.

Crown Media Holdings, Inc. (3%):  United States cable owner and provider.

Ideiasnet (5%): Technology, media, and telecommunications developer and provider. Idaiasnet acquires stakes in companies’ projects and invests in those projects.

Kroenke Arena Company, LLC (7%): Owner of The Pepsi Center, a sports facility in Denver, Colorado.

Leisure Arts, Inc. (100%): Owner of publisher of crafts, decorating, lifestyle, and other home improvement “how-to” books.

Liberty Associated Partners, L.P. (29%): Investment firm specializing in private equity investments.

Live Nation Entertainment, Inc. (27%): Largest live entertainment company in the world that specializes in sponsorship, ticketing solutions, artist management, eCommerce, and concert promotion and venue operations.

MacNeil/Lehrer Productions (67%): Producer of PBS News HourI and other educational documentaries.

Mobile Streams Plc (16%): Global mobile content retailer. Mobile Stream PIc sells music, polyphonic ringtones, videos, and graphics.

Sirius XM Radio Inc. (50%): American satellite radio provider. Sirius XM Radio, Inc. provides all content from talk to sports, to entertainment, to Top-40 hits, all commercial-free.

Sprint Nextel Corporation (1%): Provides a range of wireless and wireline communications products.

Time Warner Cable Inc. (1%): One of the largest cable providers in the world. Time Warner Cable offers video, high-speed data, and voice services over broadband cable systems.

Time Warner Inc. (1%): Media and entertainment company that provides film entertainment, television networks, cable systems, interactive services, and music.

TruePosition, Inc. (100%): Owner of company providing location-based solutions for national security and public safety.

Viacom Inc. (1%): Global media company whose assets include companies such as MTV, Paramount Pictures, CMT: Country Music Network, TV Land, and Comedy Central.

All information on assets source [6].

Sources

[1] http://ir.libertymedia.com/management.cfm

[2] http://iaals.du.edu/about-the-institute/board-of-advisors/richard-n-baer/

[3] http://en.wikipedia.org/wiki/Liberty_Media

[4] http://www.libertymedia.com/company-history.aspx

[5]  http://ir.libertymedia.com/releasedetail.cfm?ReleaseID=743807

[6] http://www.libertymedia.com/asset-list.aspx

 

MGM

Posted on by 
by Lyndsey Lombard
Image courtesy of articles.latimes.com

Image courtesy of articles.latimes.com

                                 10250 Constellation Blvd. Los Angeles, CA 90067                                    310.449.3000 / www.mgm.com

A Brief History

MGM (Metro-Goldwyn-Mayer) Studios is an American media and entertainment company that produces and distributes films and television programs. It was founded in April 1924 and has been producing classic films since then such as “Rocky,” “West Side Story,” and “The Wizard of Oz.” While the company has not been producing as many movies independently after coming back from bankruptcy in 2010, it still is responsible for distributing many recent popular films [1]. MGM currently has a distribution deal with Sony Pictures Entertainment, which allowed it to distribute the most recent Bond movie, “Skyfall” [2]. Some of the current films MGM has co-produced are “The Hobbit,” “21 Jump Street,” and “Hansel and Gretel.”

Key Figures

Image courtesy of aceshowbiz.com

Image courtesy of aceshowbiz.com

 

Gary Barber is Chairman and CEO of MGM, Inc. and has held this position since October 2012. Previously, he served as Co-Chariman and CEO since December 2010 alongside Roger Birnbaum. Barber and Birbaum founded Spyglass Entertainment together in 1998 [3]. With Barber’s help, MGM has been able to make a strong comeback after declaring bankruptcy in 2010.

 

 

 

Image courtesy of latimesblogs.latimes.com

Image courtesy of latimesblogs.latimes.com

Ken Schapiro took on the title of Chief Operating Officer in February 2011. He was previously the co-founder of the private investment management company, Qualia Capital LLC [3].

Image courtesy of www.hollywoodreporter.com

Image courtesy of www.hollywoodreporter.com

As President of the Motion Picture Group, Jonathan Glickman, is in charge of the production and development of all MGM films. He too has a successful history prior to this position at Spyglass Entertainment [3].

Financials

The future is looking up for MGM post-bankruptcy.  After MGM acquired Carl Icahn’s stake for $590 million in July 2012, the company went public [4].  According to the 2012 year-end results, revenue was up 97% over 2011.  They reported total revenue of $1.38 billion, which was an increase of $681 million from the prior year.

“Skyfall” and “The Hobbit: An Unexpected Journey” landed MGM with two films in the top 15 of box office history.  These two films also gave MGM the title of being the only studio to have two back-to-back films make $1 billion at the box office.

Image courtesy of imdb.com

Image courtesy of imdb.com

“Skyfall” was named the biggest James Bond release of all time and also the biggest film in the UK by crossing the £100 million mark.

The total home entertainment revenue of 2012 was greater than that of 2011 even though no new titles were released. The fourth quarter was extremely strong with $96 million in revenue, which shows how successful the promotions for James Bond 50th anniversary were.  The worldwide home entertainment generated a total of $195 million, which was $1 million more than the prior year.

The worldwide television licensing revenue generated a total of $395 million, which was also a large increase by $23 million from the prior year.

The 2012 Adjusted EBITDA showed a 48% increase to $286 million.  It was adjusted due to revenue growth.  The revenue growth was so substantial that it offset the increase in marketing, distribution, and operating expenses [5].

Recent Releases

Image courtesy of www.comingsoon.net

Image courtesy of www.comingsoon.net

Trailer: http://www.youtube.com/watch?v=TB11JlyjmkE

Hansel & Gretel: Witch Hunters was released January 25, 2013 and directed by Tommy Wirkola.  MGM co-produced it with Paramount. It is a twist on the children’s fairy tale, Hansel & Gretel.  In the movie, Hansel and Gretel are all grown up and now bounty hunters that kill witches.  It was released in 3D and IMAX. The movie made $19 million in its opening weekend and $219 million total worldwide. It made a lot more money overseas than domestically.  Its production budget was $50 million [6]. Hansel & Gretel will be released on Blu-ray and DVD on June 11, 2013.

Image courtesy of www.comingsoon.net

Image courtesy of www.comingsoon.net

Trailer: http://www.youtube.com/watch?v=QLR3HrV71yM

G.I. Joe: Retaliation was released March 29, 2013 and directed by Jon M. Chu.  This is the third movie out of the series and it starred new cast members such as Dwayne “The Rock” Johnson and Bruce Willis.  It was #1 its opening weekend making $40 million.  Its total worldwide gross is $231 million so far.  Its production budget was $130 million. This movie was also released in 3D and IMAX [6].

Upcoming Films

Image courtesy of imdb.com

Image courtesy of imdb.com

Trailer: http://www.youtube.com/watch?v=H369sxjyhx8&feature=player_embedded

Carrie is an upcoming horror film that is the third adaptation of the Stephen King’s 1974 novel, Carrie. The film is co-produced by MGM and Screen Gems. It stars Chloe Moretz and Julianne Moore.  The release date is set for October 18, 2013. With this release, MGM and Screen Gems are hoping to stay as close to the original novel’s storyline.  Their current promotion for the movie is extremely original.  At the end of the trailer, they provide you with a toll free number to call, which plays back a scene with the characters.

Future MGM Films

There is definitely a trend of adaptations and remakes in MGM’s upcoming film releases.  Two other upcoming releases are “RoboCop,” which is set to release February 7, 2014, and “Hercules: The Thracian Wars,” which is set to release August 8, 2014.

Image courtesy of www.comingsoon.net

Image courtesy of www.comingsoon.net

“RoboCop” is a science fiction action film that will feature Samuel L. Jackson, Michael Keaton, and Gary Oldman.  It is a remake of the original 1987 film. José Padihla, a Brazilian film director, who has not released a feature film in the U.S. yet, will direct it [7].

“Hercules: The Thracian Wars” will feature Dwayne “The Rock” Johnson as Hercules in this adaptation of the Radical Studios graphic novel from 2008.  Its main competition in the box office will be Disney/Marvel’s “Guardians of the Galaxy,” which is set to release a week prior.  If this movie is successful, it could lead to another franchise for MGM [8].

More recently MGM has teamed up with GK Films to develop a new Tomb Raider franchise based on the Lara Croft video game franchise. The two original films from 2001 and 2003 that starred Angelina Jolie grossed $432 million worldwide so MGM hopes to achieve the same success [9].

Image courtesy of www.filmofilia.com

Image courtesy of www.filmofilia.com

“The Hobbit” trilogy was confirmed in a MGM news release this past February.  The second film, “The Hobbit: The Desolation of Smaug” was given a December 13, 2013 release date and the third film, “The Hobbit: There and Back Again,” was officially given the release date of December 17, 2014. The first film in the trilogy did so well that they hope the success will follow throughout.  MGM is co-producing these films 50/50 with New Line Cinema [10].

With all of these plans in place, MGM’s future looks strong and successful.

Sources

1. MGM History

2. Sony Pictures Deal

3. MGM Today

4. Carl Icahn sells stake in MGM

5. MGM 2012 Year-End Results

6. Box Office Mojo

7. RoboCop Release

8. Hercules Release

9. Tomb Raider Franchise Announcement

10. The Hobbit Trilogy Announcement

Cumulus

Posted on by 
by Josh Campbell

Cumulus Media, Inc.

3280 Peachtree Road, NW Suite 2300
Atlanta, Georgia 30305
TEL. (404) 949-0700
FAX. (404) 949-0740 [1]

Cumulus Media Logo [2]

1.0 Company Overview

Cumulus Media Inc. is the largest “pure-play” radio company in the United States, with roughly 550 stations in 110 cities, including major markets such as San Francisco, Houston, and Dallas. [3][4] Cumulus Media also operates Cumulus Media Networks, a network with over 4,500 radio affiliates to which Cumulus provides content [5]. Cumulus Media Networks syndicates talk shows by popular personalities like Dr. Sanjay Gupta, Mike Huckabee, Michael Savage, and Geraldo. [6] In addition to its radio holdings, Cumulus Media also owns SweetJack, a daily deals service similar to Groupon. [7]  Cumulus is using its extensive radio network to market the relatively new SweetJack. [8]

2.0 Key People

Lewis W. Dickey [10]

Chairman, President, and CEO–Lewis Dickey: Lewis W. Dickey received his bachelor’s from Stanford University, and an MBA from Harvard University.  In addition to serving in his current capacity at Cumulus Media, Mr. Dickey is also on the Board of Directors of the North American Broadcasting Co. and National Association of Broadcasters. [9]

Director–Alexis Glick: Alexis Glick received her bachelor’s degree from Columbia University and was previously employed as a Principal by CNBC, Inc., and as Vice President of Fox Business Network. [11]

3.0 Financials

3.1 Income Statement [12]

(2012): Revenue: $1,076,600,000 (+51.67%)

Gross Profit: $415,100,000 (+51.13%)

(2011): Revenue: $520,000,000 (+54.50%)

Gross Profit: $203,700,000 (+54.39%)

(2010): Revenue: $236,600,000 (-8.12%)

Gross Profit: $92,900,000 (+2.69%)

Cumulus Media has had several good years, with both revenue and gross profit rising by roughly fifty percent in 2012 and 2011.  Much of this increase is likely due to a number of acquisitions that Cumulus has made recently, most notably its takeover of Citadel Broadcasting Corporation. [13]  Cumulus is doing well when compared with what is arguably its biggest competitor, Clear Channel.  Clear Channel Communications (CCC), while dwarfing Cumulus in revenue, earning  $6,246,884 in 2012, lost money last year, pulling in a net income of -$425,500,000. [14]

3.2 Stock History and Target

Cumulus Media (NASDAQ: CMLS) started the year 2013 at 2.66, and has since risen to 3.28 as of April 5, 2013.  On April 9, 2012, approximately this time last year, Cumulus Media was traded at 3.32. [15] This shows CMLS stock to be relatively stable in the long term, though there were some fluctuations in the short term.  On November 27, Cumulus dipped to 2.16, its low point of this past year (Apr 2012-Apr 2013).  Cumulus Media’s target for the end of the year 2013 is a stock price of 4.00. [16]

As a comparison, Clear Channel Communications (OTCBB: CCMO) is currently traded at 2.80.  CCC’s stock price has decreased from a year ago, when it was traded at roughly 5.25.  Over the past year, Clear Channel’s stock price has fluctuated to a far greater extent than that of Cumulus Media, hitting a high of 6.2 in late April and a low of 1.2 in late July [17]

4.0 Recent Activity

4.1 January

The beginning of 2013 saw legendary New York DJ Don Imus’s old contract with Cumulus expire.  However, the well-known personality stayed on the air under new conditions specified in a deal inked with Cumulus in mid-December of 2012. [18]

Nash 94.7 Logo [23]

Possibly the company’s most publicized decision this year, the purchase of WFME from Family Stations for $40,000,000 allowed Cumulus to rebrand the previously religious station as NASH 94.7, a country music station–the first to serve the major New York City area in many years. [19][20] The station has proven that there was a latent market in NYC for country music; by March, NASH was already averaging 1 million listeners each week. [21] Cumulus CEO Lew Dickey has stated that he hopes NASH 94.7 will be just the start of a “multimedia entertainment brand” including not only radio, but also television, online, and publishing.  He stated that this will help draw advertisers to the brand by offering one stop shopping for cohesive advertising on all platforms. [22]

4.2 February

Cumulus Media Networks signed a deal to distribute college football broadcasts by Gino Torretta, a former college athlete who currently provides play-by-play and commentary on a college football game each week. [24]

4.3 March

In March, 2013, Cumulus Media had its earning call for Q4 2012, which showed the net income of the company dip slightly, as many analysts had predicted. [25][26][27] Despite this, the stock price of Cumulus Media did not decrease significantly. [28]

4.4 April

In April, 2013, it was reported that the Senior Vice President, Treasurer, and CFO of Cumulus Media, Joseph P. Hannan, purchased 25,000 shares of Cumulus stock at the market price of $3.30 per share.  This most recent purchase increases his total holdings in the company to 70,943 shares. [29]  Insiders in Cumulus Media tend to buy CMLS stock in far greater quantities and with far greater frequency than competing company’s executives buy their respective company’s stock.  This is seen as a good sign by many analysts. [30] 

5.0  Future Plans 

Lewis Dickey, the CEO of Cumulus Media, recently conducted a series of interviews with Bloomberg TV about the future of Cumulus Media and of the radio industry in general.  Mr. Dickey was excited about the future of SweetJack, the previously mentioned daily deals service that Cumulus Media just started offering.  Cumulus is optimistic about the future of SweetJack, believing that the “daily-deals” style business model is essentially a sound one.  Cumulus has partnered with Clear Channel to air ads for SweetJack on the latter’s stations as well as Cumulus’s own affiliates. [31]

Cumulus hopes SweetJack will allow them to tap into the daily deals market [35]

Dickey also stated that he believes the radio industry is headed towards more consolidation of ownership, made possible by the Telecommunications Act of 1996.  Responding to that trend in the industry, Cumulus is planning new acquisitions in the near future. [32] Cumulus industry has been keen on acquiring stations in the past, having orchestrated over 150 acquisitions since their founding in 1997, including the 2011 buyouts of Cumulus Media Partners, LLC and Citadel Broadcasting, which added 32 and 225 stations to Cumulus’s total amount, respectively. [33][34]

The future looks bright for Cumulus Media; The estimated earnings growth for the next fiscal year for Cumulus, at 83.9% are the highest among several large communications companies, including Discovery Communications, Scripps Communications, and CBS. [36][37]

Sources:

[1] http://www.cumulus.com/contact-us/

[2] http://www.allaccess.com/assets/img/editorial/raw/cu/cumulus2011.JPG

[3] http://www.cumulus.com/local-radio-2/

[4] http://www.cjr.org/resources/?c=cumulus

[5] http://www.cumulus.com/cumulus-media-network/

[6] http://affiliates.cumulusmedianetworks.com/

[7] http://www.sweetjack.com/local/

[8] http://www.clarkhoward.com/news/clark-howard/shopping-retail/sweetjack-heats-daily-deal-marketplace/nF3qr/

[9] http://quotes.wsj.com/CMLS/company-people/executive-profile/115649131?mod=WSJ_qtpeople_dir#less

[10] http://sportsrantz.com/media/files/2012/10/Dickey.png

[11] http://quotes.wsj.com/CMLS/company-people/executive-profile/66954?mod=WSJ_qtpeople_dir#less

[12] http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=CMLS&dataset=incomeStatement&period=A&currency=native

[13] http://www.businesswire.com/news/home/20110916005528/en/Cumulus-Media-Announces-Completion-Acquisition-Citadel-Broadcasting

[14] http://edgar.secdatabase.com/1389/73970813000003/filing-main.htm

[15] http://www.dailyfinance.com/quote/nasdaq/cumulus-media-inc/cmls“`

[16] http://www.nasdaq.com/symbol/cmls#.UWJhJavwL-s

[17] http://www.otcbb.com/asp/Info_Center.asp?symbol=ccmo

[18] http://mediadecoder.blogs.nytimes.com/2012/12/11/don-imus-signs-a-3-year-extension-for-his-radio-show/?ref=cumulusmediainc

[19] http://www.radioink.com/Article.asp?id=2602813&spid=24698

[20] http://www.allaccess.com/net-news/archive/story/114116/done-deal-cumulus-closes-on-wfme

[21] online.wsj.com/article/SB10001424127887323605404578382622285255296.html?KEYWORDS=cumulus+media

[22] http://www.youtube.com/watch?v=Kay-KNEIh38

[23] http://www.mediabistro.com/fishbowlny/files/2013/01/Nash947.jpg

[24] http://www.allaccess.com/net-news/archive/story/115585/cumulus-media-networks-to-distribute-touchdown-rad

[25] http://www.rttnews.com/2078870/cumulus-media-q4-loss-widens.aspx?type=bn

[26] http://www.dailyfinance.com/2013/03/13/what-does-wall-street-see-for-cumulus-medias-q4/

[27] http://seekingalpha.com/article/1284161-cumulus-media-s-ceo-discusses-q4-2012-results-earnings-call-transcript

[28] http://finance.yahoo.com/q?s=CMLS

[29] http://www.allaccess.com/net-news/archive/story/117089/cumulus-media-cfo-buys-25-000-shares-of-company-st

[30] http://www.nasdaq.com/article/cumulus-media-reports-cfo-buy-cm233440#.UWJ1OKvwL-s

[31] http://www.bloomberg.com/video/82123364-dickey-says-radio-industry-is-fragmented.html

[32] http://www.bloomberg.com/video/92870009-cumulus-planning-more-acquisitions-ceo-dickey-says.html

[33] http://www.businesswire.com/news/home/20110131007293/en/Cumulus-Media-Enters-Agreement-Acquire-Cumulus-Media

[34] http://www.forbes.com/2011/03/10/cumulus-media-to-acquire-citadel-broadcasting-marketnewsvideo.html

[35] http://nikigsbootcamp.com/wp-content/uploads/2011/11/sweetjack.jpg

[36] http://www.fnno.com/story/fast-lane/331-cumulus-media-has-highest-future-earnings-growth-broadcasting-industry-cmls-disca-cbs-auto-generated

[37] http://www.mysmartrend.com/news-briefs/news-watch/cumulus-media-has-highest-future-earnings-growth-broadcasting-industry-cmls–3

Discovery Communications

Posted on by 
by Whembley Sewell

Logo for Discovery Communications [1]

CONTACT:
One Discovery Place
Silver Spring, MD 20910
http://corporate.discovery.com/

COMPANY OVERVIEW & INFLUENCERS: 

President and CEO David Zaslav [14]

Discovery Communications is the leading creator of non-fiction media content in the world.[2] Since its founding in 2005, Discovery’s influence has grown to span over 200 countries across multiple different media platforms.[3] Under the leadership of CEO and President David Zaslav, the company has been experiencing many successes, in the realms of both finance and popularity. The company’s stock has increased 51.1% since the previous year,[13] viewership for their various channels have been at all-time highs with an estimated 1.7 billion subscribers.[15] New ventures are also beginning to break even and gain a strong foothold within the world of cable television.

HOLDINGS & MAJOR SUCCESSES:

From websites, to various cable channels, to magazines, Discovery Communications does it all. Their dedication to providing both entertaining, yet educational and informative content, factor into their overall success with their audiences. They produce material on each of their sites and channels that have worked to generate a large following and strong ratings. Each one of Discovery Communications’ holdings has a loyal group of viewers that are drawn in day and day out by the unique content that Discovery creates.

Logo for Discovery Channel [12]

One of their most notable holdings includes the channel bearing their name, The Discovery Channel. Since its founding in 1985, it has served the purpose of exposing viewers to the inner workings and complexities of the world, be it subjects including technology, history, or science. The Discovery Channel has stationed itself as “the number one media and television brand in overall quality”, providing its audiences with content featuring top of the line cinematography. Some of the programs that are popular now include Deadliest Catch and MythBusters.

A poster for TLC’s hit show “Toddlers & Tiaras” [10]

The Learning Channel, or TLC also stands out amongst Discovery Communications as a heavy-hitter in the world of cable programming. In 1991, when Discovery acquired TLC for $31.5 Million, they used the opportunity to launch more reality programming. Early programs like “Trauma in the E.R” paved the way for other successful reality shows like “Trading Spaces” and “What Not to Wear”. Now, TLC is churning out multiple hit shows like “Jon & Kate, Plus 8”, “Toddlers & Tiaras”, “DC Cupcakes,” “Cake Boss”, and the craze that is “Here Comes Honey Boo Boo”.[9] Though shows like “Toddlers & Tiaras” and “Here Comes Honey Boo Boo” draw in some negative criticism from viewers, many of these non-fiction series and their respective casts have become “worldwide phenomena” that continuously draw ever broadening audiences in to the programming that Discovery Communications has to offer.

 CURRENT VENTURES: 

Logo for Revision3 [16]

In 2012, as an attempt to cater to the “internet generation”, Discovery Communications acquired Revision3. All of its content exists on Revision3.com, but it can also be viewed on a television. Their also features programming features content that can be accessed on various different mobile devices, and can be found across the internet on sites like YouTube, Dailymotion, and Metacafe. It is estimated that Revision3 rakes in about 23 million viewers, all looking to enjoy the network’s shows about technology, modern culture, and music amongst many other things.[7] Though the site and its extensions rake in an estimated 80 million views monthly, efforts are being made to improve these numbers. In order to increase the popularity amongst their target demographic, Revision3 recently launched an XBOX360 app for easy access. This will allow them to reach over 70 million people,[11] and aligns them with other over the top video services such as Netflix, Hulu, and HBOGO.

Release poster for 3Net [20]

3Net is a revolutionary concept created by world class teams at Discovery and leading studios Sony, and IMAX.[18] The entire channel serves the purpose of creating top of the line, three-dimensional content. 3Net, released in early 2011 and fully launched in late 2012, is now functioning as the first and the only 24/7 3D network.[17] Its unique position as the first channel of its kind allows 3Net to have established one of the “most extensive” libraries of 3D content in the entire world.[19] It has something for everyone, offering a wide range of programming in every genre, be it documentary, action, lifestyle, cuisine, kids and family, or travel.[17] Even though it in its infancy, this network has been well received and has acquired a base of approximately 40 million viewers already. Their distribution affiliates have grown to include companies like DIRECTV, Comcast, and Netflix.[21] In order to provide their increasing influence and generate even more widespread appeal, 3Net has been looking to create the highest quality content. In the works is the development of 4K and UltraHD programming that will provide 3Net’s audience with best grade of entertainment possible.[21]

Promotional poster for the release of Oprah Winfrey’s network, OWN [6]

One of Discovery’s most recent and notable ventures is that of OWN, or Oprah Winfrey Network. OWN, a network with a very female-centric focus, has allowed Discovery Communications to market on Oprah Winfrey’s massive audience and has used Winfrey’s widespread appeal to launch extensions of the world reknown Oprah Winfrey show. Shows such as “Oprah’s Next Chapter”, “Oprah’s Lifeclass”, and “Oprah’s Masterclass” all utilized Winfrey’s fame to springboard her entire network. [4] Unfortunately, OWN was off to a rocky start and its potential for success was questioned early on. After starting with losses of $330 Million and upwards, rumors flew that the network would be quickly axed.[5] Fortunately, Winfrey has recently partnered with other heavy-hitters like Tyler Perry to produce new and diverse releases to draw in bigger audiences. [4] New shows debuting in May, like Perry’s “The Haves and the Have Nots” and “Love They Neighbor”, are OWN’s first ventures into scripted series, which hopefully will help them to bring in more viewers and compete with other networks with largely female audiences like Bravo and Lifetime.[8]

WORKS CITED: 

[1] http://media.corporate.discovery.com/blog/wp-content/uploads/2012/04/DISC-COMM-pos-4c.png

[2] http://corporate.discovery.com/our-company/overview/

[3] http://www.reuters.com/finance/stocks/companyProfile?symbol=DISCA.O

[4] http://www.oprah.com/own

[5] http://www.dailymail.co.uk/news/article-2140773/Oprahs-OWN-network-Losses-approach-330m-amid-predictions-axed-year.html

[6] http://www.mediabistro.com/prnewser/files/2011/01/OWN.jpg

[7] http://corporate.discovery.com/brands/revision3/

[8] http://online.wsj.com/article/SB10001424127887324391104578225750715281798.html

[9] http://www.businessinsider.com/history-of-tlc-from-learning-channel-to-honey-boo-boo-2012-11?op=1

[10] http://www.canadianfreestuff.com/wp-content/uploads/2012/07/Toddlers-300×225.gif

[11] http://www.reelseo.com/revision3-xbox-360-perfect-match/

[12] http://www.vivatv.ro/wp-content/uploads/2011/12/discovery-channel-logo.jpg

[13] http://www.deadline.com/2013/04/discovery-david-zaslav-2012-compensation-salary/

[14] http://www2.pictures.zimbio.com/gi/Summer+TCA+Tour+Day+3+Di10W00Q6aql.jpg

[15] http://www.reuters.com/finance/stocks/companyProfile?symbol=DISCA.O

[16] http://media.corporate.discovery.com/blog/wp-content/uploads/2012/08/revision3-logo.jpeg

[17] http://press.discovery.com/us/3n/info/

[18] http://corporate.discovery.com/brands/us/3d-network/

[19] http://www.3net.com/about

[20] http://www.adweek.com/files/cable.3NET_SONY.ad.jpg

[21] http://corporate.discovery.com/discovery-news/3net-marks-second-anniversary-dramatic-growth-cons/

Weinstein Company

Posted on by 
by Shawn Namet

The Weinstein Company logo

History

Bob and Harvey Weinstein, the founders of Miramax, launched The Weinstein Company in October 2005. The studio handles the production and distribution of films as well as production of television content. Weinstein Company films took home the Academy Awards for Best Picture in 2011 and 2012, for The King’s Speech and The Artist, respectively. The Weinstein Company also owns Dimension Films, a label started by Bob Weinstein in 1993, which has produced films like Scream and Scary Movie. [1]

Key Executives

Harvey Weinstein
Courtesy of The Hollywood Reporter

Harvey Weinstein founded Miramax in 1979 with his brother Bob Weinstein. The two have been nominated for 303 Academy Awards between them, 75 of which they have won. [2]

Bob Weinstein
Courtesy of the New York Post

Bob Weinstein established Dimension Films in 1993 while still at Miramax. The Dimension Films label specializes in science fiction, action, and horror films like Piranha, Grindhouse, and Sin City, as well as family films like Spy Kids. [3]

 

Financials

After finishing 2012 in eighth place among film distributors with a 2.4% market share, the Weinstein Company has moved up to second place with a 12.1% market share as of April 4, 2013. The smaller independent studio beat out most of the major studios in box office grosses for the first quarter with $282.4 million in revenue, up from $75.6 million at the same time last year. The lead may not hold, however, since the upcoming Summer season of blockbuster action films like Iron Man 3 is sure to give larger studios a boost that could take them the top of the box office rankings. The studio climbed the list thanks to high grosses from Silver Linings Playbook and Django Unchained, which also garnered critical acclaim and numerous Oscar nominations. [4] [5] [6]

Recent Film Releases

Silver Linings Playbook

Courtesy of The Weinstein Company

Director David O. Russell’s Silver Linings Playbook, adapted from a book by Matthew Quick, is the story of Pat Solitano, a man struggling with bipolar disorder who is released from his court ordered stay in a mental institution and attempts to put his life in order and win back his wife. Pat then meets the recently widowed Tiffany, who convinces him to compete in a dance competition as a way to prove himself to his wife. [7]

Silver Linings Playbook began its theatrical run in a limited release in only 16 theaters, but would eventually spread across the country to play in more than 2,800 theaters in its twelfth week. [8]

The film has made a total domestic gross of almost $130 million on a budget of just $21 million, and received an average review score of 81 out of 100, representing universal acclaim from major film critics, according to review aggregator Metacritic. The film went on to receive eight Academy Award nominations, including Best Picture, and won lead actress Jennifer Lawrence her first Oscar. [6] [8] [9]

Django Unchained

Courtesy of the Weinstein Company

The latest in a series of director Quentin Tarantino’s collaborations with the Weinstein Company, Django Unchained, follows a slave, Django, who is freed and recruited by bounty hunter Dr. King Schultz. The pair track down and attempt to rescue Django’s wife at a plantation owned by the brutal Calvin Candie.[10]

Tarantino’s first foray into the western genre made $30 million dollars for it’s Christmas release, and went on to gross a total more than $162 million domestically. Like Silver Linings, Django received universal acclaim on Metacritic with an average review score of 81 out of 100. The film received five Academy Award nominations, winning in both the Original Screenplay category as well as the Supporting Actor category for Christoph Waltz’s performance as Dr. Schultz. [11] [12] [6]

Despite the critical and commercial success of Django Unchained, the picture drew criticism for the consistent use of racial slurs in the film’s dialogue. Director Spike Lee was especially outspoken on the issue. Controversy does not appear to have harmed the film’s box office revenues or Oscar hopes, and in fact brought the film more publicity and visibility in the news media. [13]

Upcoming Projects

Big Eyes

Tim Burton
Courtesy of Biography.com

The Weinstein Company is in the process of completing a deal to fund and distribute the next film from popular director Tim Burton, titled Big Eyes. The film is based on the true story of Walter and Margaret Keane, a couple who found success in creating some of the first mass marketed artwork, selling their paintings through retailers across the United States until their partnership and marriage bitterly ended. Christoph Waltz and Amy Adams are set to star.

Many of Burton’s recent films have been highly successful at the box office, with his film Alice in Wonderland grossing over $334 million domestically. Given Burton’s current popularity and the dedicated fan base he has gathered, Big Eyes could be a boost for the studio, even though the subject matter may not lend itself to a large scale event film like Alice. [14] [15]

Early Oscar Contenders

The Weinstein Company has already begun laying out release dates for some of its Oscar hopefuls, focusing on the traditional year end award season. The first will be August: Osage County, a dark comedy with an ensemble cast including  Meryl Streep, Sam Shepard, and Julia Roberts. The studio has also acquired the distribution rights to Sundance Film Festival Grand Jury and Audience Award, Fruitvale, which is also likely to be an awards contender.

Nicole Kidman as Grace Kelly in “Grace of Monaco”
Courtesy of guardian.co.uk

In recent months the company has also announced acquisition of United States distribution rights for two high-profile biopics that are likely to garner nominations in acting categories. The Weinsteins will distribute Grace of Monaco, starring Nicole Kidman as classic Hollywood actress Grace Kelly, as well as Mandela: Long Walk to Freedom, which will star Idris Elba as South African president and apartheid activist Nelson Mandela. [16]

Coming Soon

The Weinstein Company has begun promoting Only God Forgives, starring Ryan Gosling. A May 2013 release date has been announced for France, hinting at a showing at the Cannes Film Festival. [17]

The studio’s next film to release will be Scary Movie 5, the newest installment in the horror parody franchise. The film is expected to draw in an established fan base, and advertisements show a focus on cameos from celebrities like Charlie Sheen and Lindsay Lohan. [18]

 Sources

 

[1] About the Weinstein Company

[2] About Harvey Weinstein

[3] About Bob Weinstein

[4] Box Office Mojo – Studio Market Share

[5] Hollywood Reporter – Box Office Report

[6] Cinema Blend – Oscar Nominations and Winners

[7] IMDb -Silver Linings Playbook

[8] Box Office Mojo Silver Linings Playbook

[9] Metacritic – Silver Linings Playbook

[10] IMDb – Django Unchained

[11] Box Office Mojo – Django Unchained

[12] Metacritic – Django Unchained

[13] LA Times – Django Unchained controversy rages on

[14] Deadline – Tim Burton to direct ‘Big Eyes’

[15] Box Office Mojo – Alice in Wonderland

[16] Indiewire – Weinstein Company sets Oscar release dates

[17] Latinos Post – Cannes Film Festival predictions 2013

[18] Scary Movie 5 website

 

 

Spyglass Entertainment

Posted on by

SPYGLASS ENTERTAINMENT

by Hadley Rosenbaum

Spyglass_Entertainment

Courtesy of Spyglass

245 N Beverly Dr

Beverly Hills, CA 90210

Tel: 1 310 443 5800

Fax: 1 310 443 5912

 

History/Overview

Spyglass Entertainment, LLC is an American Film and Television production company that was co-founded by Roger Birnbaum and Gary Barber in 1998. European media giants, Kirch Group in Germany, and Mediaset in Italy, were the founders of Spyglass and agreed to invest for 5 years in the films that were produced in the studio. The deal was estimated to be worth $250 million (1). This deal was backed by The Walt Disney Company, and they aimed to produce around 3 to 5 movies a year through “a combination of studio money, global alliances with international distributors and media companies, and backed by a large financial institution”(2). Cerberus Capital Management currently owns the company.

Key Figures (3)

gary-barber-roger-birnbaum-mgm-ceo-gi

CO-Founders of Spyglass Entertainment

Gary Barber- Co-Chairman

Courtesy of Spyglass Entertainment

Courtesy of Spyglass Entertainment

Gary Barber is the co-founder of Spyglass Entertainment along with his partner Roger Birnbaum. He has produced and executive produced a handful of films and he has run many entertainment businesses, including production, music, foreign distribution etc. He is a true mastermind of the entertainment business. Before Spyglass, Barber was the Vice Chairman and Chief Operating Officer of Morgan Creek, which is another American production studio. Even before Morgan Creek, Barber was the President of Vestron International Group, which focused on home video distribution. Barber received his college degrees fro the University of Witwatersrand in South Africa. Mr. Barber was named Co-Chairman and Chief Executive Officer of Metro-Goldwyn-Mayer Inc. in December 2010, but he continues to serve as Co-Chairman of the Board of Spyglass.

Roger Birnbaum- Co-Chairman

Roger Birnbaum is the co-founder of Spyglass Entertainment along with his partner Gary Barber. Birnbaum started his career as Vice President of Arista Records and A&M Records before starting his career in the film industry. Before he co-founded Spyglass Entertainment, Birnbaum co-founded Caravan Pictures, where he helped to produce

Courtesy of Spyglass Entertainment

Courtesy of Spyglass Entertainment

many box office hits like “Rush Hour,” “Inspector Gadget,” “ “The Three Musketeers,” “Angels in the Outfield” and “While You Were Sleeping.” Even before working at Caravan, Birnbaum was the President of Worldwide Production and Executive Vice President of Twentieth Century Fox, where he helped produce a multitude of great films, like“Home Alone,” “Sleeping with the Enemy,” “Edward Scissorhands,” “My Cousin Vinny,” “The Last of the Mohicans,” “Die Hard 2” and “Mrs. Doubtfire,” among others.  Lastly, prior to that, Birnbaum was President of Production for United Artists, where he helped to develop and produce the Oscar winning film “Rain Man.”

Jose Gutierrez

Jose is the Chief Financial Officer and the Chief Executive officer. He takes care of everything financially- related to Spyglass entertainment- banking and financial reporting, day-to-day activities, etc.

Success (3) (7)

Spyglass films have made a huge source of revenue in the box office, grossing over $5 billion worldwide to this day. Spyglass started its success with The Sixth Sense Spyglass was launched with the phenomenal box office success “The Sixth Sense, starring Bruce Willis, the-sixth-sensewhich grossed over $661 million and achieved six Academy Award nominations.  It also had another 32 wins and 37 nominations across the board (7). Other successes include Bruce Almighty, starring Jim Carrey, BruceAlmighty_posterwhich grossed over $485 million in worldwide box office and is considered one of the blockbuster comedies of all time, and Memoirs of a Geisha, Read book online free 1-711721based on the best-selling novel, which earned Spyglass three Oscar wins out of six nominations, bringing the company a total, to date, of 34 nominations.

 

 

MGM 

A lot of the movies Spyglass Entertainment helped produce were in collaboration with other production companies, and have slowly stopped producing movies in their studio. This is because in 2010, Spyglass purchased Metro-Goldwyn-Mayer Inc., which lifted the

MGM Logo

MGM Logo

company out of bankruptcy. Spyglass Entertainment and its investor Carl Ichan wrote off around $5 billion in debts in exchange for the studio. I was announced that Gary Barber and Roger Birnbaum would become co-chairmen and chief executive officers of the studio (4).

Metro- Goldwyn-Meyer Studio owns one of the largest modern collections of feature films in the world, including 4,100 theatrically released feature film titles and approximately 10,800 television episodes. Films in the MGM Library have won over 200 Academy Awards, including 15 Best Picture Awards (5). This iconic company has so many operating units, including Metro-Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., MGM Television Entertainment Inc., MGM Networks Inc., MGM Distribution Co., MGM International Television Distribution Inc., Metro-Goldwyn-Mayer Home Entertainment LLC, MGM ON STAGE, MGM Music, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in domestic and international TV channels reaching over 130 countries (6).

Right Here, Right Now (8)

Spyglass Entertainment now serves as more of a distribution company of the movies they already have, and they have scaled back a lot on their movie production because of the merge. There are still some movies in production, just not 20 year.

One movie in production right now is Hercules: The Thracian Wars, which is set to start filming this upcoming may, and the release date is set for July 25th, 2014. The movie is based off of a comic book, and has Dwayne Johnson playing Hercules. It will basically be a comic book-action- spinoff.

Spyglass has a few movies right now currently in development. One is called The Undomestic Goddess, which is a comedy about an American attorney who loses her job and finds work as a housemaid in England. This is based off of a book, and has no set date to begin production.

Another movie in development for Spyglass is called The Game, which is going to be an action/comedy about a man who hires a professional seduction expert to help him become the world’s best pick-up artist. Brian Koppelman and David Levien are attached to the movie as the directors/writers, and this movie is based off of a novel.

One last movie Spyglass has signed on to co-produce is called The Brood, which is an adaption of a 1970’s horror television show, which is now being remade into a movie by Breck Eisner.

 References

(1)  http://pqasb.pqarchiver.com/latimes/access/35507765.html?dids=35507765:35507765&FMT=ABS&FMTS=ABS:FT

(2) http://pqasb.pqarchiver.com/latimes/access/33285845.html?dids=33285845:33285845&FMT=ABS&FMTS=ABS:FT&type=current&date=Aug+21%2C+1998&author=CLAUDIA+ELLER&pub=Los+Angeles+Times&desc=Company+Town%3B+THE+BIZ%3B+Spyglass+Offers+Disney+Lower-Risk+Deals&pqatl=google

(3) http://www.spyglassentertainment.com

(4) http://www.globaltimes.cn/business/world/2010-12/603275.html

(5) http://online.wsj.com/public/resources/documents/CopyMGM.pdf

(6) http://www.prnewswire.com/news-releases/mgm-restructuring-plan-becomes-effective-112209709.html

(7) http://www.imdb.com/title/tt0167404/

(8) http://pro.imdb.com/company/co0031181/