Started by wilder, April 28, 2020, 09:57:53 AM
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Quote from: Drenk on December 22, 2020, 09:07:41 AMAmazon was my first guess. Jeff Bezos made more than five billions since the tweet was posted. They're also the worst streaming service: I'm sorry, but I can only think of packages when I see the Amazon logo. Or a warehouse...
Quote from: wilberfan on December 10, 2020, 04:02:00 PMInteresting conversation with Jason Kilar (CEO of Warner Media)--the guy that pulled the trigger on this new exhibition model for WB.https://www.radio.com/podcasts/sway-43436/movie-theaters-are-dying-did-jason-kilar-deal-the-final-blow-351965617
Quote from: jenkins on December 22, 2020, 11:32:50 AMthat's a fun use of existential and resonate
QuoteDear Ari,The issue of talent agencies owning production entities is, and always has been, an issue of great concern to the DGA. While we have not commented publicly on these concerns, we have raised them on numerous occasions with representatives from WME and Endeavor Content. As discussions between WME and the Writers Guild of America have reached a critical point, it is time for us to make our position clear.The issue of avoiding conflicts of interest is exceedingly important to the DGA and our members. Affiliated ownership carries with it inherent and obvious conflicts of interest. Agents should be free and unencumbered to carry out their duties to their Director clients with only the Directors' interests in mind and should procure work for Directors without the incentive to make cost-effective deals with production companies owned by the same parent company as their agency.We are aware that the issue of conflicts of interest arising from affiliated production ownership remains the last outstanding issue preventing a resolution between the WGA and WME. We have been closely following the negotiations and litigation and believe now is the right time to communicate our strong support for the WGA's efforts to remedy the affiliated production company issue. We share their concerns and urge WME to resolve this issue with the WGA in a manner that will enable talent agents to satisfy their fiduciary duty to their clients free of conflicts of interest.This continued conflict of interest is not acceptable to the DGA. Absent prompt resolution, we intend to take all necessary and appropriate steps to protect our members.Sincerely,Russell HollanderNational Executive Director
Quote"I've said repeatedly no one wanted the agency campaign over more than me, and I'm very pleased that we've achieved our goal: the agencies who represent us now have their financial interests aligned with their writer clients, and the agencies problematic business practices such as packaging fees and agency-owned production entities are at an end. As difficult as this battle was, the simple and just clarity of the goal, that a writer's agent should make more only when his client does, is what helped us succeed.I could not be more grateful to the negotiating committee, elected leaders and staff whose commitment and tireless work over the last three years won the day. But, as with all the successes in the WGA's history, such as our pension and health benefits, our residuals in perpetuity, and our jurisdiction over the Internet, this achievement is owed to the members, who understood what we were fighting for, and were willing to make personal sacrifices for the greater good. I'm proud and lucky to be one of them."
QuoteFebruary 5, 2021Dear Members,The WGA and William Morris Endeavor Entertainment, LLC (WME) have reached a deal on a franchise agreement. Therefore, effective immediately, WME may once again represent Guild members for covered writing services. WGA and WME have also agreed to withdraw the legal claims each has brought against the other in federal court.The WME franchise agreement contains the same terms as those set forth in the UTA/ICM/CAA deals and protects writers in the three fundamental areas that the Guild has emphasized since the beginning of the campaign:* Contract, deal memo, and invoice information will be provided to the Guild, allowing the WGA and the agency to partner in systematically addressing late pay and free work.* Strict 20% limitation on agency ownership of production entities.* A sunset period that ends the practice of packaging by June 30, 2022.* The WGA also negotiated a side letter with WME, its parent company Endeavor, and Endeavor's private equity owner Silver Lake that contains the protections previously negotiated with CAA, as well as additional terms. The purpose of the WME side letter is to address two complicated conflict of interest issues, one that is currently in play and one that is prospective. Specifically, WME is currently majority-owned by Silver Lake, and WME hopes in the future to become a publicly-traded corporation. Both of these circumstances required complex negotiations in order to ensure one thing: that WME be required to behave as a proper fiduciary, putting writer clients first regardless of the agency's ownership structure. WME, Endeavor and Silver Lake have worked with the WGA over the past month to craft an agreement that achieves this objective.* WME/Endeavor agreed to a mutually-chosen third-party monitor, Louis M. Meisinger, a retired judge and mediator, to ensure that the agency sells down its interest in Endeavor Content to the required 20% or less in compliance with the Franchise Agreement. The side letter provides a deadline for the sale of Endeavor and Silver Lake's interests in Endeavor Content down to the permissible level.During the divestment period, WME will escrow all after-tax gross profits, writer commissions and packaging fees related to WGA-covered projects produced by Endeavor Content. Judge Meisinger will also oversee all writer deals negotiated by WME with Endeavor Content to make sure the agency is properly carrying out its fiduciary duties for writer clients.The side letter imposes serious consequences if the sale is not completed by the agreed deadline, including the right for the WGA to suspend WME's ability to represent writers and an enhanced obligation to escrow profits, package fees and commissions WME/Endeavor receives related to WGA-covered projects produced by Endeavor Content until the sale is complete.* Consistent with the CAA agreement, the side letter ensures that WME/Endeavor and any Silver Lake entity will not jointly have a greater-than-20% ownership interest in any affiliate production company. The Silver Lake fund that owns WME/Endeavor will not have a greater than 20% ownership interest in any affiliate production company, regardless of whether WME/Endeavor also has an interest in the entity.* The side letter provides that small (de minimis) shareholders of the agency are exempt from the 20% production ownership cap. This exemption applies only if the shareholder owns 5% or less of the agency and has no control over its operation or management.As long as WME remains a privately-held agency, the exemption will apply only to a limited group of institutional shareholders whose small stake confers no say over agency operations. WME must disclose those shareholders, and is also required to disclose to its writer clients the investor's greater-than-20% ownership interest in any production company that makes an offer of employment. WME must also provide the WGA the offer and final deal terms.If WME/Endeavor becomes a publicly-traded company, it has agreed to publicly disclose the obligations shareholders have under the Franchise Agreement to prevent potential violations, including the fact that any shareholder who owns more than 5% of the public company would be bound by the Franchise Agreement. Thus, even in the event that WME/Endeavor goes public, any investor that owns 5% or more of the publicly-traded company will be required to abide by the 20% production cap.* As in the CAA agreement, the side letter contains protections in the event a Silver Lake investment fund, other than the fund that has a direct interest in WME/Endeavor, acquires a greater than 20% interest in a production company. Silver Lake has agreed, going forward, to identify any such production company (as of today, there is none). If WME were to negotiate a deal with such a company, the agency would be required to disclose to its writer clients the existence of Silver Lake's ownership and to provide to the Guild a copy of the offer and final deal points.This transparency will allow the Guild to make sure that WME is negotiating appropriate deals for writers in these circumstances, and that Silver Lake's ownership interest is not suppressing the value of writers' services. If there are patterns in the writer deals—such as below-market pilot script fees, for example—the Guild will have the information it needs to investigate and take any necessary corrective action with WME.The Guild appreciates the efforts of WME and Endeavor in working through the complicated issues involved in this negotiation.You can read a red-lined version of the WME franchise agreement here. The WME/Endeavor/Silver Lake side letter is here. Click here for the list of all franchised agencies.This agreement concludes the negotiation phase of the agency campaign. The agreements expire on April 12, 2025 unless mutually extended on a year-by-year basis.Congratulations are in order to the entire membership. Since saying thank you at the end of a long technical email is insufficient to recognize the member contributions and sacrifices this effort entailed, we will be back in touch soon with a wrap-up.In solidarity,WGA Agency Negotiating CommitteeChris Keyser, Co-ChairDavid Shore, Co-ChairMeredith Stiehm, Co-ChairLucy AlibarJohn AugustAngelina BurnettZoanne ClackKate EricksonJonathan FernandezTravon FreeAshley GableDeric A. HughesChip JohannessenMichael SchurTracey Scott WilsonBetsy ThomasPatric M. VerroneNicole YorkinDavid A. Goodman, President WGAW, ex-officioMarjorie David, Vice President WGAW, ex-officioMichele Mulroney, Secretary-Treasurer WGAW, ex-officioBeau Willimon, President WGAE, ex-officioKathy McGee, Vice President WGAE, ex-officioBob Schneider, Secretary-Treasurer WGAE, ex-officio
QuoteFOUR DECADES OF MEDIA DEALS1980s1986 – Capital Cities buys ABC1989 – Sony buys Columbia Pictures1990s1990 – Warner Communications and Time merge1991 – Matsushita buys Universal parent MCA1994 – Viacom buys Paramount1994 – Viacom buys Blockbuster1995 – Seagram buys Universal/MCA from Matsushita1995 – Westinghouse buys CBS1996 – Disney buys Capital Cities/ABC1996 – Time Warner and Turner Broadcasting merge1997 – Westinghouse sells its power and light bulb businesses and changes name to CBS1998- AT&T buys John Malone's TCI cable1999 – Viacom buys CBS2000s2000 – AOL buys Time Warner2001 – Vivendi buys Seagram2001 – Vivendi buys Barry Diller's USA Networks2001 – Comcast buys AT&T Broadband2003 – Vivendi creates NBCUniversal by combining the studio with GE's TV biz led by NBC2004 – Comcast tries unsuccessfully to buy Disney2011 – Comcast buys 51% of NBCUniversal2013 – Comcast buys rest of NBCUniversal2014 – AT&T acquires DirecTV2015 – Charter Acquires Time Warner Cable2017 – Disney acquires Fox (outbids Comcast, which buys Sky)2018 – AT&T acquires Time Warner2021 – AT&T sells part of DirecTV2021- AT&T sells WarnerMedia2021 – Amazon buys MGM
QuoteHis deputy, Pamela Abdy, produced "Garden State" when she was at Jersey Films and amplified the career of Alejandro González Iñárritu
QuoteCOVID is still disrupting the Oscar season. On Friday, the Academy of Motion Picture Arts and Science canceled all in-person events and screenings for the remainder of 2021.
QuoteThe scaling back of in-person Academy events is the latest sign of anxiety about the recent surge in COVID infections and hospitalizations in the U.S. and worldwide.