Cast & Crew, one of Hollywood’s leading payroll companies, said tonight that it’s furloughing “a significant percentage” of its employees, and is implementing salary reductions of 50% for executive management and 25% for vice presidents and other senior employees.
It’s also decreasing work hours “for a portion of the staff,” but a spokesman declined to say how many employees are affected, or how many employees there are.
More from DeadlineCast & Crew Payroll Company Acquires Rival Media ServicesProduction Payroll Firm Cast & Crew Acquires UK-Based Sargent-DiscFred Milstein, Scott Nicolaides To Lead Completion Bond Firm Media Guarantors
“Cast & Crew and companies across all industries have been focused on the well-being of their employees and their families, as well as the ongoing financial condition of the company,” said CEO Eric Belcher. “After evaluating our options given the temporary entertainment industry slowdown caused by Covid-19, we are taking several actions to align our costs to...
It’s also decreasing work hours “for a portion of the staff,” but a spokesman declined to say how many employees are affected, or how many employees there are.
More from DeadlineCast & Crew Payroll Company Acquires Rival Media ServicesProduction Payroll Firm Cast & Crew Acquires UK-Based Sargent-DiscFred Milstein, Scott Nicolaides To Lead Completion Bond Firm Media Guarantors
“Cast & Crew and companies across all industries have been focused on the well-being of their employees and their families, as well as the ongoing financial condition of the company,” said CEO Eric Belcher. “After evaluating our options given the temporary entertainment industry slowdown caused by Covid-19, we are taking several actions to align our costs to...
- 4/10/2020
- by David Robb
- Deadline Film + TV
Reacting to the coronavirus pandemic, payroll specialist Cast & Crew has cut executive salaries, reduced staff hours and furloughed an unspecified number of employees on Thursday.
“Cast & Crew and companies across all industries have been focused on the well-being of their employees and their families, as well as the ongoing financial condition of the company,” said Eric Belcher, chief executive officer. “After evaluating our options given the temporary entertainment industry slowdown caused by Covid-19, we are taking several actions to align our costs to the economic situation in the industry we serve.”
The company provides services related to payroll, human resources, accounting, finance, workflow and productivity to the entertainment industry. It has about 700 employees.
Salary reductions include 50% for the executive management team members and 25% for vice presidents and other senior employees. The company also decreased hours for a portion of the staff and furloughed “a significant” percentage of employees for an unspecified period.
“Cast & Crew and companies across all industries have been focused on the well-being of their employees and their families, as well as the ongoing financial condition of the company,” said Eric Belcher, chief executive officer. “After evaluating our options given the temporary entertainment industry slowdown caused by Covid-19, we are taking several actions to align our costs to the economic situation in the industry we serve.”
The company provides services related to payroll, human resources, accounting, finance, workflow and productivity to the entertainment industry. It has about 700 employees.
Salary reductions include 50% for the executive management team members and 25% for vice presidents and other senior employees. The company also decreased hours for a portion of the staff and furloughed “a significant” percentage of employees for an unspecified period.
- 4/10/2020
- by Dave McNary
- Variety Film + TV
Cast & Crew, one of Hollywood’s leading payroll and accounting firms, has reached an agreement to acquire one of its leading rivals, Los Angeles-based Media Services. Founded in 1976, Burbank-based Cast & Crew had been acquired in December 2018 by Eqt, the giant investment firm based in Stockholm, Sweden, with more than 100,000 employees.
Under terms of the deal, Media Services will continue to operate as a distinct brand under the leadership of its CEO, Barry Oberman, who will report directly to Cast & Crew CEO Eric Belcher.
“Media Services is a great fit for Cast & Crew,” said Belcher. “We are well-aligned in our shared values, complementary strategies, compatible technology portfolios and consistent corporate cultures. As a combined company, we will continue to strive to deliver best-in-class products and services to our clients, and believe that existing clients of both companies will benefit from the combined experience, products, and services that each company has honed over the past several decades.
Under terms of the deal, Media Services will continue to operate as a distinct brand under the leadership of its CEO, Barry Oberman, who will report directly to Cast & Crew CEO Eric Belcher.
“Media Services is a great fit for Cast & Crew,” said Belcher. “We are well-aligned in our shared values, complementary strategies, compatible technology portfolios and consistent corporate cultures. As a combined company, we will continue to strive to deliver best-in-class products and services to our clients, and believe that existing clients of both companies will benefit from the combined experience, products, and services that each company has honed over the past several decades.
- 2/14/2020
- by David Robb
- Deadline Film + TV
It is the fifth acquisition in the last four years for Cast & Crew.
Sargent-Disc, the UK’s leading UK production payroll and accounting specialist, has been sold to Los Angeles-based firm Cast & Crew.
It marks the fifth acquisition in the last four years for Cast & Crew, which provides payroll and production software and services to the entertainment industry.
It also marks the first deal for Cast & Crew since private equity firm Eqt took control of the company from technology investor Silver Lake last year. Financial terms were not disclosed.
In a statement, Cast & Crew said the Sargent-Disc purchase was...
Sargent-Disc, the UK’s leading UK production payroll and accounting specialist, has been sold to Los Angeles-based firm Cast & Crew.
It marks the fifth acquisition in the last four years for Cast & Crew, which provides payroll and production software and services to the entertainment industry.
It also marks the first deal for Cast & Crew since private equity firm Eqt took control of the company from technology investor Silver Lake last year. Financial terms were not disclosed.
In a statement, Cast & Crew said the Sargent-Disc purchase was...
- 11/21/2019
- by 1100453¦Michael Rosser¦9¦
- ScreenDaily
Production payroll firm Cast & Crew has expanded its geographic reach by acquiring UK peer Sargent-Disc.
The deal marks the fifth acquisition in the past four years and the first since private equity firm Eqt took control of the company a year ago.
Financial terms were not disclosed.
Cast & Crew specializes in film and television payroll, accounting, software and services for motion pictures, television, live events, commercials and music tours.
Sargent-Disc, founded 33 years ago, offers production accounting and production services as well as software such as CrewStart, Digital Purchase Order and the Sd Production Card.
“The addition of Sargent-Disc to the Cast & Crew family marks an important milestone in our company’s history as we significantly expand in the UK and various international markets,” Cast & Crew CEO Eric Belcher said.
Sargent-Disc will continue to function under its own brand with its current staff based at its headquarters in Beaconsfield, UK.
The deal marks the fifth acquisition in the past four years and the first since private equity firm Eqt took control of the company a year ago.
Financial terms were not disclosed.
Cast & Crew specializes in film and television payroll, accounting, software and services for motion pictures, television, live events, commercials and music tours.
Sargent-Disc, founded 33 years ago, offers production accounting and production services as well as software such as CrewStart, Digital Purchase Order and the Sd Production Card.
“The addition of Sargent-Disc to the Cast & Crew family marks an important milestone in our company’s history as we significantly expand in the UK and various international markets,” Cast & Crew CEO Eric Belcher said.
Sargent-Disc will continue to function under its own brand with its current staff based at its headquarters in Beaconsfield, UK.
- 11/21/2019
- by Dade Hayes
- Deadline Film + TV
Payroll specialist Cast & Crew Entertainment Services has been sold by Silver Lake to the investment Fund Eqt VIII for an undisclosed price.
Cast & Crew, based in Burbank, Calif., and founded in 1976, touts itself as the premier provider of technology-enabled payroll and production-management services to the entertainment industry. Services include payroll processing, residuals processing, workers’ compensation services, labor relations, production incentives and production tax credit financing. It has approximately 700 employees.
Eqt and Silver Lake, which bought Cast & Crew in 2015, announced the deal Monday. Eqt said it will support Cast & Crew’s next phase of development as the company focuses on accelerating product and service expansion in current and new verticals and leverage its local European presence and Industrial Advisor Network to accelerate the company’s international expansion, initially focused in Europe.
Kasper Knokgaard, partner at Eqt Partners, said, “We have been very impressed with the Company’s performance and vision...
Cast & Crew, based in Burbank, Calif., and founded in 1976, touts itself as the premier provider of technology-enabled payroll and production-management services to the entertainment industry. Services include payroll processing, residuals processing, workers’ compensation services, labor relations, production incentives and production tax credit financing. It has approximately 700 employees.
Eqt and Silver Lake, which bought Cast & Crew in 2015, announced the deal Monday. Eqt said it will support Cast & Crew’s next phase of development as the company focuses on accelerating product and service expansion in current and new verticals and leverage its local European presence and Industrial Advisor Network to accelerate the company’s international expansion, initially focused in Europe.
Kasper Knokgaard, partner at Eqt Partners, said, “We have been very impressed with the Company’s performance and vision...
- 12/10/2018
- by Dave McNary
- Variety Film + TV
Exclusive: Payroll, accounting and production management outfit Cast & Crew has launched Media Guarantors Insurance Solutions. Led by principals and industry vets Fred Milstein and Scott Nicolaides, the completion bond company will run as a separate entity and is looking to innovate amid a changing landscape.
Milstein is President and CEO of the new company. The exec has years of experience in the sector and calls Media Guarantors “a better kind of completion bond company focused on offering the highest level of singular service. We know every project is different and we will create tailored solutions to fit each of our client’s particular situations. Our combined expertise and experience, plus the financial strength of our insurer, means clients will be supported from start to finish.”
The company describes its role thusly: to confirm a project is achievable as conceived; cap financiers’ exposure; guaranty delivery to specifications; make distribution agreements bankable...
Milstein is President and CEO of the new company. The exec has years of experience in the sector and calls Media Guarantors “a better kind of completion bond company focused on offering the highest level of singular service. We know every project is different and we will create tailored solutions to fit each of our client’s particular situations. Our combined expertise and experience, plus the financial strength of our insurer, means clients will be supported from start to finish.”
The company describes its role thusly: to confirm a project is achievable as conceived; cap financiers’ exposure; guaranty delivery to specifications; make distribution agreements bankable...
- 4/9/2018
- by Nancy Tartaglione
- Deadline Film + TV
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