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Saban Capital Buys Panavision, Sim Video for $622 Million

  • Variety
Saban Capital Acquisition is buying camera equipment specialist Panavision and Sim Video International in a $622 million cash and stock deal.

The transaction, announced on Friday, is aimed at creating a comprehensive production and post-production entity. Saban Capital Acquisition Corp., headed by media mogul Haim Saban, intends to change its name to Panavision Holdings Inc. and is expected to continue to trade on the Nasdaq stock exchange.

Panavision president-ceo Kim Snyder will serve as chairman and CEO. Bill Roberts, chief financial officer of Panavision, will serve in that role for the combined company. The deal will close in the first quarter.

“Advancements in technology and the emergence of streaming have fundamentally changed how consumers watch and discover content,” Saban said. “This is driving significant growth in the market for production and post-production services. This secular trend creates a tremendous opportunity for Panavision to leverage its leading technology and pursue opportunistic acquisitions
See full article at Variety »

Saban Capital Acquires Panavision And Sim Video In $622 Million Deal

  • Deadline
Saban Capital Acquisition is acquiring Panavision and Sim Video International Inc. in a $622 million cash and stock deal that would combine the companies to create a comprehensive production and post-production entity.

The three companies, to be united under the Panavision Holdings banner, are positioned to capitalize on the surge in content spending that’s been fueled by the rise of online streaming services.

According to documents filed this morning with the SEC, Saban Capital Acquisition will pay Panavision shareholders $368 million in cash and 8.1 million shares of Saban stock. Another 6 million shares vest over time, and are subject to certain conditions. Sim’s investors will receive $110 million in cash and 3.1 million shares of Saban stock.

Saban Capital Acquisition, which is a special purpose acquisition company affiliated with Haim Saban’s Los Angeles-based investment firm, intends to finance the acquisitions through funds held in a Cayman Islands trust and $350 million in loans
See full article at Deadline »

Entertainment Industry Figures to Attend John McCain’s Memorial Service

  • Variety
Entertainment Industry Figures to Attend John McCain’s Memorial Service
Washington — Actor-director Warren Beatty, and media mogul and former New York City Mayor Michael Bloomberg will be among the pallbearers at John McCain’s memorial service on Saturday in Washington.

McCain’s memorial service also will feature Renee Fleming singing “Danny Boy,” according to plans released by the McCain family.

Beatty was a longtime friend of McCain’s, and the Arizona senator gave a video tribute to him when he was awarded the AFI Life Achievement Award in 2008. Bloomberg also was a friend of McCain’s.

Other pallbearers include Vice President Joe Biden, former Defense Secretary William Cohen, former Sen. Gary Hart, businessman Stephen Dart, Pegasus Capital Advisors COO Richard Davis, Carla Eudy, former Sen. Russ Feingold, former Sen. Phil Gramm, Vladimir Kara-Murza, former Pennsylvania Gov. Tom Ridge, author Mark Salter, FedEx founder Fred Smith, and Sen. Sheldon Whitehouse.

McCain’s daughter, Meghan, a host on “The View,” will deliver
See full article at Variety »

Bill Maher Contributes $1 Million to Democrats’ Senate Majority Pac (Exclusive)

  • Variety
Bill Maher Contributes $1 Million to Democrats’ Senate Majority Pac (Exclusive)
Bill Maher has contributed $1 million to the Senate Majority Pac, the fundraising committee aligned with Senate Minority Leader Chuck Schumer and dedicated to electing Democrats to the Senate.

Maher’s donation follows comments he made on his HBO talk show “Real Time” in June in which he warned of Democrats being vastly outspent by rich Republican donors. He even called out tech titans like Jeff Bezos, Mark Zuckerberg, and Bill Gates for giving scant contributions in 2016.

Maher’s contribution mirrors a $1 million donation he made in 2012 to Priorities USA Action, a super Pac backing President Barack Obama’s reelection. Back then, Maher also warned of the number of well-heeled billionaires pouring money into Mitt Romney’s campaign.

“We sincerely thank Bill Maher for his generous donation,” J.B. Poersch, president of the Senate Majority Pac, said in a statement. “Maher’s attention to our efforts this cycle underscores the building
See full article at Variety »

Chief Revenue Officer Tonia O’Connor Is Latest Univision Departure

Exclusive: As the top-to-bottom overhaul of Univision continues apace, the latest executive headed for the exits is Chief Revenue Officer Tonia O’Connor, Deadline has learned.

O’Connor was promoted in 2017 to the revenue role, which was a newly created position for the company. She had previously served as Chief Commercial Officer and President of Content Distribution. In a 10-year career at the company, O’Connor helped oversee the launches of several new networks including Univision Deportes, now a top-three sports operation capable of beating ESPN on a given day.

“Univision is a uniquely positioned company, unlike any other brand,” O’Connor said in a statement. “I am incredibly proud of helping transform Univision into a media powerhouse – with the most loyal audience and billions in enterprise value. I will always treasure my experience and colleagues from Univision, which I will carry with me as I take on new challenges
See full article at Deadline »

Univision Chief Content Officer Isaac Lee Exits In Latest Corporate Tremor

In the latest jolt to Hispanic media giant Univision, Chief Content Officer Isaac Lee is exiting the company.

After nearly eight years at Univision, Lee plans to start an independent production company. Patricio Wills, an exec with Univision’s Mexican partner, Televisa, will take over Lee’s content duties.

The move is another dose of corporate drama at Univision, which has hit some turbulence in recent months. After board members opted to pull a planned Ipo and engage a consultant to help guide strategic decisions, they installed Vincent Sadusky as CEO in the spring helm of the privately held company, replacing Randy Falco. Entertainment president Lourdes Diaz recently departed for Stuart Ford’s Agc Studios TV division.

Once a distant runner-up in the ratings, archrival Telemundo has narrowed the gap considerably, consistently winning some time periods. The NBC-owned network has pulled big ratings in recent weeks with its exclusive
See full article at Deadline »

Sun Valley Scene: All Eyes on Redstone vs. Moonves, Comcast vs. Disney as Mogul Conclave Begins

  • Variety
Sun Valley, Idaho — The black and silver SUVs packed with CEOs started rolling in about noon. Allen & Co.’s annual gathering of media and tech titans at the Sun Valley Lodge resort here brings together several combatants in active industry battles that have observers transfixed.

Will Comcast’s Brian Roberts and Disney’s Bob Iger wind up talking in the halls about their escalating bidding war for Rupert Murdoch‘s 21st Century Fox? Will Shari Redstone and Leslie Moonves, now fighting each other in court over control of CBS Corp., meet on a resort pathway or in a conference session? Several conference attendees admitted privately that the corporate soap operas have been the buzz of the confab in the early going.

Redstone and Moonves arrived at the lodge within an hour or two of each other. The same was true for Roberts and Murdoch. Murdoch pulled in to the circular driveway with his wife,
See full article at Variety »

Sun Valley Preview: What the Moguls Will Be Talking About at Billionaires’ Retreat

  • Variety
If ever the atmosphere was ripe for dealmaking at Allen & Co.’s annual gathering of moguls in Sun Valley, Idaho, this is the year.

Key players in the megabucks M&A activity that has made headlines in recent months will be rubbing elbows in the confines of the Sun Valley Lodge and its posh surroundings during the conference, which begins July 10 and runs through the weekend, when Warren Buffett will hold court with his annual Q&A.

Participants will surely keep a close eye on the movements of Comcast’s Brian Roberts, Disney’s Bob Iger and Fox’s Rupert Murdoch for hints of a resolution to the Disney-versus-Comcast brawl over large portions of Murdoch’s media empire. CBS Corp. chief Leslie Moonves will be on hand, as will the subject of the lawsuit CBS unleashed in May on its controlling shareholder, Shari Redstone of National Amusements. CBS and National
See full article at Variety »

Univision Looking to Sell Fusion Media Group (Report)

  • Variety
Univision Communications now wants to unload Fusion Media Group — coming two years after it bought a half-dozen websites from Gawker Media in a bid to boost its reach among younger audiences.

The Hispanic media giant is exploring a sale of Fusion Media Group, the Wall Street Journal reported. (Univision declined to comment.) The strategic about-face comes after Univision cancelled its initial public offering plans earlier this year and has seen broad turnover among its senior executive ranks.

Univision last year had tried to sell a 20% stake in Fusion Media Group for $200 million, but failed to find any investors willing to go in on the deal, the Journal reported. According to the WSJ, potential partners were “skittish” about working with the Univision ownership group, which includes Haim Saban’s Saban Capital Group, Televisa, and private-equity firms Providence Equity Partners, Madison Dearborn Partners, Thomas H. Lee Partners and Tpg.

In March, Univision
See full article at Variety »

Democrats Leaning Heavily on Hollywood Support to Win Back House

  • Variety
Democrats are praying for a Blue Wave in the midterms — and Hollywood is going to be a big part of the fundraising push.

The industry is orchestrating a behind-the-scenes blitz that will inject millions into the campaign coffers of candidates across the country — from the outlying exurbs of Houston to the strands of Newport and Huntington Beach, Calif.

So far, the entertainment industry has pumped nearly $21 million into House and Senate races this election cycle, according to the Center for Responsive Politics. That places it 21st on the list of some 80 industries tracked by political donations, according to data, but Hollywood’s high-profile status and tight-knit network make it an attractive draw for candidates.

And entertainment dollars are likely to get much more important as November approaches, as Democrats aim to win back the House and the Senate and the Gop does everything it can to preserve its majorities.

The
See full article at Variety »

Jeremy Lin Fights Bullying Through DoSomething.org's You've Got The Power Campaign

Jeremy Lin has spent his entire career overcoming haters, doubters, and bullies. Now, through a groundbreaking campaign, he’s inspiring a generation of young people to help other students do the same.

Video: You've Got the Power with Jeremy Lin

Lin is the face of “You’ve Got the Power,” a national anti-bullying campaign from DoSomething.org and Saban’s Power Rangers. In the campaign’s PSA, he tells the inspiring story of the college coach who helped him find the power to overcome hecklers and bullies. Then Lin tells young viewers that they can be that person for a younger student. That’s Lin’s message to young people: you’ve got the power to help others beat bullying.

“My college assistant coach, Coach Blakeney, helped me overcome negativity, use the ignorance as motivation, and embrace what makes me unique,” Lin says. “That’s why I’m so proud
See full article at Look to the Stars »

Univision Confirms Vince Sadusky Replacing CEO Randy Falco This Week

Univision, the traditional leader in Hispanic broadcasting that has faced fresh challenges in recent years, has confirmed that Randy Falco, who led the company for eight years, will hand the CEO baton to Vincent Sadusky this week.

The move was telegraphed last week in reports by the Wall Street Journal and Bloomberg. Sadusky is the former CEO of Media General, a local TV station giant that was acquired by Nexstar. He also served an executive stint at Univision rival Telemundo, including several years as CFO.

Falco, 64, who made his reputation during a lengthy tenure at NBC, where his achievements included building the network’s multi-billion-dollar Olympics business. He will remain at Univision through the end of 2018 during the transition. Sadusky, 53, will officially begin as CEO on Friday.

In the official announcement about the exec move, Univision chairman Haim Saban called it a “unique moment” for the company. He saluted Sadusky’s “track record of leadership,
See full article at Deadline »

Vincent Sadusky to Replace Randy Falco as Univision CEO

Updated May 30 at 1:44 p.m. Pt: Univision has officially announced Vincent Sadusky as Randy Falco’s CEO replacement, effective June 1, 2018.

We expected this exact transition to occur. Below are the requisite quotes about the outgoing and incoming chief executive officers, and underneath those our story from last week about Univision’s imminent naming of Sadusky as Falco’s successor.

Haim Saban, chairman of the Board of Directors of Uci, said the following: “Over the last eight years, Randy has led the transformation of Uci into a modern media organization with a diverse portfolio of assets, sterling brands and content that audiences and marketers want, backed by strong earnings growth, a significantly improved balance sheet and a team of motivated and purpose-driven employees. Randy has always recognized and embraced Univision as an incredibly unique company with a mission and vision that goes well beyond traditional media. On behalf of the entire Board,
See full article at The Wrap »

Broadcast TV Veteran Vincent Sadusky Named CEO of Univision Communications

  • Variety
Univision Communications has tapped broadcast TV veteran Vincent Sadusky to succeed Randy Falco as chief executive officer.

Falco disclosed his intention to step down earlier this year. Sadusky, formerly CEO of Media General and Lin TV station groups, takes the reins as of Friday and will join the Univision board of directors. Falco remains a consultant to Univision through the end of the year.

“Vince is distinctly qualified to lead Uci through the next phase of its growth, given his impressive track record of leadership, vision, deep industry experience and relationships,” said Univision chairman Haim Saban. “This is a unique moment for Uci, and we believe that we have the right strategy and team in place to execute on the opportunities in front of us. On behalf of the entire board, we look forward to working with Vince to achieve great success for Uci.”

The selection of Sadusky as CEO
See full article at Variety »

Univision Will Hand CEO Reins To Former Telemundo Exec: Reports

Vince Sadusky, a broadcasting veteran and former Telemundo executive, is set to replace Randy Falco as CEO of Univision.

The Hispanic media company declined comment on reports in the Wall Street Journal and Bloomberg that Sadusky will step into the role as early as next week. Falco, an NBC veteran who arrived at Univision in 2011, recently announced his plan to retire at the end of 2018. That news marked an abrupt shift from the announcement a couple of months earlier that his contract had been extended through 2020. The company also has recently replaced its CFO, canceled a planned Ipo and initiated plans to cut tens of millions of dollars in expenses.

Sadusky had been CEO of Media General, a local TV giant that was acquired by Nexstar in 2016. He also had a lengthy exec stint at Telemundo, Univision’s NBCUniversal-owned rival, including several years as its CFO.

The change at the top comes as Univision,
See full article at Deadline »

Saban Films President Talks Cannes Shopping Spree, Future Plans in ‘Theatrical Business’

There were bigger yachts docked in the harbor at this year’s Cannes Film Festival, but production company Saban Films is returning to Hollywood with more movie acquisitions than any other bidder at this year’s international film market.

The division, part of billionaire Haim Saban’s media empire, racked up five total by the end of the festival: the Gerard Butler psychological thriller “Keepers,” Keanu Reeves’ romantic thriller “Siberia,” “Berlin, I Love You” with Kiera Knightley and Helen Mirren, Nicolas Cage’s “Between Worlds” and the historical action film “Viking Destiny.”

The spending spree comes weeks after its parent company sold the Power Rangers and other longtime Saban brands to toy giant Hasbro in a cash-stock deal worth $522 million.

TheWrap caught up with Saban Films President Bill Bromiley to discuss the gems they found in the South of France, their theatrical distribution ambitions and the increasing importance of finding films in their infancy.
See full article at The Wrap »

Saban Films Acquires Us Rights to Supernatural Thriller Between Worlds, Starring Nicolas Cage

It wasn’t too long ago that news broke out of Sundance that Saban Films had acquired Lizzie, and now the company has obtained the Us distribution rights to a new supernatural thriller starring Nicolas Cage called Between Worlds.

Press Release: Los Angeles – Saban Films, who has been one of the most active U.S. distributors on the Croisette this week, has acquired U.S. distribution rights to writer/director Maria Pulera’s supernatural thriller Between Worlds which stars Nicolas Cage, Penelope Mitchell, Franka Potente, and Hopper Penn. Eric Banoun and David Hillary produced alongside Pulera via their company Rise Up, LLC. Saban Films is planning a day-and-date theatrical/VOD release.

Between Worlds follows Joe (Cage), a down-on-his-luck truck driver haunted by the memory of his deceased wife and child. He meets Julie (Potente) a spiritually gifted woman who enlists Joe in a desperate effort to find the lost soul of her comatose daughter,
See full article at DailyDead »

Hasbro acquires Power Rangers from Saban Brands for $522 million

Back in February Saban Brands announced that Hasbro had secured the global toy license to the Power Rangers franchise in a deal with also gave the toy giant the opportunity to initiate a purchase of the property – an option that Hasbro has now exercised in a deal worth around $522 million.

Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s Brand Blueprint,” said Hasbro CEO Brian Goldner. “Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint. We couldn’t be more pleased that Haim Saban will continue in a
See full article at Flickeringmyth »

Hasbro acquires Power Rangers and other Saban brands for $522 million

  • JoBlo
There were some big plans in place for the future of the Power Rangers franchise, with series creator Haim Saban even mentioning that they already had a six-movie arc mapped out, but based on the lackluster performance of Dean Israelite's Power Rangers at the box-office last year, coupled with a lukewarm audience reaction, the future of Power Rangers on the big-screen wasn't looking so... Read More...
See full article at JoBlo »

Hasbro Picks Up Power Rangers, Other Saban Entertainment Assets, for $522 Million

  • Variety
Toymaker Hasbro, Inc. announced on Tuesday said it would acquire Saban’s Power Rangers and other entertainment assets in a cash-and-stock deal valued at $522 million.

The transaction also includes other properties including “My Pet Monster,” “Popples,” “Julius Jr.,” “Luna Petunia” and “Treehouse Detectives.” Hasbro and Saban brands previously announced a $22 million master toy licensing agreement set to begin next year.

Hasbro will pay nearly $230 million in cash and issue $270 in Hasbro common stock for the assets. The sale is expected to during the second quarter of 2018.

The Power Rangers franchise, first started in 1993 by Haim Saban, is one of the longest-running live-action kids series. It has now spawned a number of movies including last year’s Lionsgate picture, which grossed $142 million globally.

Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s Brand Blueprint,” Brian Goldner,
See full article at Variety »
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