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When the Writers Guild of America sued the four major agencies April 17 over packaging fees, it was a major escalation in a war that has upended talent-representative relationships. But even if WME, CAA, UTA and ICM beat the lawsuit, they may already be losing in one respect: The guild’s move to end an “illegal kickback” could effectively put on ice — or at the very least, slow down — any ambitions for public offerings. WME, CAA and UTA are responsible for roughly 70 percent of Hollywood’s packaging fees, and each has at least explored the possibility of an IPO, though WME parent Endeavor is the one said to be in hot pursuit at the moment. But experts warn there may be little appetite to invest in a company that…
Film Dumped by Disney Alan Horn trims the Fox movie slate. p. 9 ↑ Deals Bunker Reboot Inside TV’s new live sitcom craze. p. 14 Reed Hastings/Ted Sarandos Thanks to soaring stock, the Netflix CEO’s pay rises 48 percent in 2018 to $36.1 million as his content chief receives $29.6 million, up 32 percent. Natalie Morales The Access anchor exits after three years (but will remain on Today) following the departure of longtime executive producer Rob Silverstein. Sylvia Rhone Sony Music promotes the veteran executive to chairman and CEO of Epic Records, where she has been president since 2014. Jon Feltheimer As the Lionsgate CEO’s Hellboy reboot flops and the company’s stock suffers a six-month slide, The Wall Street Journal calls into question the $4.4 billion integration of Starz. Showbiz…
Disney delivered a shot across the bow with its April 11 reveal that it plans to sell forthcoming family-friendly streaming service Disney+ at a price well below Netflix’s standard rate. The move pre-empted streaming announcements from WarnerMedia, NBCUniversal and even Apple, which held a March 25 event for its new offering, AppleTV+, that left out many specifics and set the stage for an all-out war for subscribers as new entrants crowd the over-the-top video space. With costs mounting for consumers — signing up for each major service will soon cost well over $50 per month — each offering will need to set itself apart.…
The effects of the WGA’s April 17 lawsuit against the big four agencies are uncertain and disputed. In the next few months, there may not be much impact, since major clients have deals that are set and the agencies have packaging fee arrangements or commissions that are locked in with respect to those deals. Beyond that, agencies will have to respond with their own legal filings, including defenses and any desired counterclaims. Below, THR surveys the guild’s claims and looks at how the talent agencies are likely to respond. Expect a vigorous fight. WRITERS’ CLAIMS Breach of Fiduciary Duty Packaging fees are a breach of California law because the agency focuses on its own self-interest, not the client’s. Unfair Business Practice Packaging fees violate the state’s Unfair Competition Law because…
Call it spring cleaning, Burbank-style. Since Disney’s $71.3 billion acquisition of Fox assets closed March 20, film studio chief Alan Horn has jettisoned a number of Fox projects from his development and preproduction slate, including the $170 million tentpole Mouse Guard, the Tom Hanks starrer News of the World (to Universal) and an adaptation of Angie Thomas’ best-seller On the Come Up (to Paramount). Also poised for curbside pickup, THR has learned, is Ted Melfi’s mental-hospital-set dramedy Fruit Loops, which has Woody Harrelson starring (that project is still officially in the Disney fold but likely will be put in turnaround). Three of the four films came from Elizabeth Gabler’s now-shuttered Fox 2000 division (Mouse Guard being the exception). Insiders say Disney is simply culling the enormous influx of projects. Mouse…
‘AN INNOCENT CHARM’ TOM MCCARTHY DIRECTOR, SPOTLIGHT I just talked to him on Friday. We were putting together my next movie. He was like, “OK, we’re going to set it up this week, and here’s a checklist of things we need to get into place.” The timing is just crazy to me. I’ve been talking to him so much lately, I keep expecting for him to call me. The first time we met was about Spotlight. I wasn’t sure I wanted to do the movie. I couldn’t see it. But I met Steve for coffee in Beverly Hills, and you could just get a sense talking with him that he had this ability to break things down and get them done. And he was incredibly likable. He had so many…
