Endeavor IPO Lifts Veil on Exec Pay...

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  • #16
    Re: Endeavor IPO Lifts Veil on Exec Pay...

    so, as the two sides go back to the table today, it seems either Paradigm/UTA:

    1. saw what everyone else saw in the Endeavor IPO financials and also sees Verve owning the development space at the moment since signing the CoC and are cutting themselves loose from WME/CAA-world; or

    2. see the IPOs in the works and want to double down on packaging and production for themselves and this is an economies of scale way to grow that business

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    • #17
      Re: Endeavor IPO Lifts Veil on Exec Pay...

      Originally posted by JoeBanks View Post
      so, as the two sides go back to the table today, it seems either Paradigm/UTA:

      1. saw what everyone else saw in the Endeavor IPO financials and also sees Verve owning the development space at the moment since signing the CoC and are cutting themselves loose from WME/CAA-world; or

      2. see the IPOs in the works and want to double down on packaging and production for themselves and this is an economies of scale way to grow that business
      I think UTA is primarily interested in Paradigm's (very strong) music business, as music is one major area in which they (UTA) have trailed WME and CAA.

      Paradigm also has a strong book business, which would be of value to UTA, whose book department is maybe not so great.

      To the extent this has anything to do with the WGA-ATA rift, UTA may be spooked at the idea that an entire client base (writers, directors, talent) can fire them all at once, and they may therefore be hungry to diversify. But yeah, I think a lot of it is the insane (poorly-conceived, over-levereged) growth of WME and a keeping-up-with-the-Joneses / FOMO mindset.

      Of course, Paradigm and UTA are now very busily denying these rumors in the press. Nobody knows what's going on. It's madness. Or, as the ATA likes to say, "chaos."

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      • #18
        Re: Endeavor IPO Lifts Veil on Exec Pay...

        Sam Gores says no to UTA's offer (possibly seeing that he would really be a second among equals to Jeremy Zimmer if they did merge?)

        https://deadline.com/2019/06/paradig...ng-1202629881/

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        • #19
          Re: Endeavor IPO Lifts Veil on Exec Pay...

          https://deadline.com/2019/06/writers...od-1202629058/

          from 1% to 2% offer to share profits. they make it sound so huge, "it's double..." doesn't seem like a good offer. not one based in good faith.

          only 11 of 26 WGA committee members were present. does that seem unusual for a meeting of this magnitude? i don't know what the expectations are/were.

          doesn't seem to be moving the needle.
          "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

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          • #20
            Re: Endeavor IPO Lifts Veil on Exec Pay...

            Originally posted by finalact4 View Post
            https://deadline.com/2019/06/writers...od-1202629058/

            from 1% to 2% offer to share profits. they make it sound so huge, "it's double..." doesn't seem like a good offer. not one based in good faith.

            only 11 of 26 WGA committee members were present. does that seem unusual for a meeting of this magnitude? i don't know what the expectations are/were.

            doesn't seem to be moving the needle.
            it feels like an F.U. move to me but at this point would Goodman & Co. put it to a vote among the rank-and-file just to show all the Deadline letter writers -- if not the ATA itself -- how much of a minority their position is across the guild (could it get maybe 25-30% support?)

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            • #21
              Re: Endeavor IPO Lifts Veil on Exec Pay...

              Originally posted by JoeBanks View Post
              it feels like an F.U. move to me but at this point would Goodman & Co. put it to a vote among the rank-and-file just to show all the Deadline letter writers -- if not the ATA itself -- how much of a minority their position is across the guild (could it get maybe 25-30% support?)
              i don't see how they can. the demand is for the ATA to give up all packaging fees. they aren't giving up packaging fees, it's not even on the table. they are digging their heels in with a pseudo proposal.

              Today, we are submitting proposals to you in the following areas:

              1) The term of our contract
              2) Arbitration and the process for remedy in all situations
              3) The sharing of information and data
              4) Affiliated independent companies
              5) Film finance
              6) The obligations and process around choice and packaging
              7) Obviously, there are other discussions to be had around other issues, but we all think this list of six is a good place to start.
              pretty sure this is a non-starter. if i were goodman, i wouldn't even respond by negotiating any terms until the big one is addressed. that's the one that matters most. once you have leverage, you do not give it up as it weakens your position.

              once the WGA shows any kind of weakness, they [ATA] will not relent, imo.
              "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

              Comment


              • #22
                Re: Endeavor IPO Lifts Veil on Exec Pay...

                Originally posted by JoeBanks View Post
                it feels like an F.U. move to me but at this point would Goodman & Co. put it to a vote among the rank-and-file just to show all the Deadline letter writers -- if not the ATA itself -- how much of a minority their position is across the guild (could it get maybe 25-30% support?)
                I think that would be a disaster. If even 7% of membership voted to take the offer, every headline in every trade would scream, "Writers Guild coming apart! Discord server! Chairman Mao vows crackdown on dissent!!!"

                Comment


                • #23
                  Re: Endeavor IPO Lifts Veil on Exec Pay...

                  Forget IPO, we just need to get in on the ground floor - heck, in the broom closet - with one of these guys (Apple isn't alone) when they're out shopping for a 'library' of movies, IPO, whatever:

                  apple-wants-to-make-oscar-worthy-movies-to-beef-up-streaming-service

                  Comment


                  • #24
                    Re: Endeavor IPO Lifts Veil on Exec Pay...

                    Originally posted by catcon View Post
                    Forget IPO, we just need to get in on the ground floor - heck, in the broom closet - with one of these guys (Apple isn't alone) when they're out shopping for a 'library' of movies, IPO, whatever:

                    apple-wants-to-make-oscar-worthy-movies-to-beef-up-streaming-service
                    not if Speilberg has anything to say about it. remember this?

                    https://ew.com/movies/2019/03/06/spi...car-ambitions/

                    Speilberg doesn't feel that "streamers" should be allowed to submit for motion picture Oscars because they never a theatrical release-- they have already committed to the TV format and thus should be judged for Emmys not Oscars.

                    i wonder what the minimum release is to be considered a theatrical release? well, this is what i found on the Oscars' own rules:

                    RULE TWO
                    ELIGIBILITY

                    1. Eligibility for Academy Awards consideration is subject to Rules Two and Three, and to those special
                    rules approved by the Board of Governors that follow.

                    2. All eligible motion pictures, unless otherwise noted (see Paragraph 9, below), must be:
                    • a. feature length (defined as over 40 minutes),
                    • b. publicly exhibited by means of 35mm or 70mm film, or in a 24- or 48-frame progressive scan Digital Cinema format with a minimum projector resolution of 2048 by 1080 pixels, source image format conforming to ST 428-1:2006 D-Cinema Distribution Master - Image Characteristics; image compression (if used) conforming to ISO/IEC 15444-1 (JPEG 2000); and image and sound file formats suitable for exhibition in commercial Digital Cinema sites. (Blu-ray format does not meet Digital Cinema requirements.)
                    • The audio in a Digital Cinema Package (DCP) is typically 5.1 or 7.1 channels of discrete audio. The minimum for a non-mono configuration of the audio shall be three channels as Left, Center, Right (a Left/Right configuration is not acceptable in a theatrical environment).
                    • The audio data shall be formatted in conformance with ST 428-2:2006 D-Cinema Distribution Master - Audio Characteristics and ST 428-3:2006 D-Cinema Distribution Master - Audio Channel Mapping and Channel Labeling,
                    • c. for paid admission in a commercial motion picture theater in Los Angeles County,
                    • d. for a qualifying run of at least seven consecutive days, during which period screenings must
                    • occur at least three times daily, with at least one screening beginning between 6 p.m. and 10 p.m.
                    • daily,
                    • e. advertised and exploited during their Los Angeles County qualifying run in a manner normal and
                    • customary to theatrical feature distribution practices, and
                    • f. released within the Awards year deadlines specified in Rule Three.


                    3. Films that, in any version, receive their first public exhibition or distribution in any manner other than as a theatrical motion picture release will not be eligible for Academy Awards in any category.

                    Nontheatrical public exhibition or distribution includes but is not limited to:
                    - Broadcast and cable television
                    - PPV/VOD
                    - DVD distribution
                    - Internet transmission
                    paragraph 9: exceptions
                    9. Exceptions to the eligibility requirements and methods of qualifying listed in Rules Two and Three appear in the Special Rules for the Animated Feature Film award (see Rule Seven), the Documentary awards (see Rule Eleven), the Foreign Language Film award (see Rule Thirteen), the Music awards
                    (see Rule Fifteen), and the Short Film awards (see Rule Nineteen).
                    on to Rule #13: RULE THIRTEEN
                    SPECIAL RULES FOR THE
                    FOREIGN LANGUAGE FILM AWARD

                    B. ELIGIBILITY
                    1. The motion picture must be first released in the country submitting it no earlier than October 1, 2016, and no later than September 30, 2017, and be first publicly exhibited for at least seven consecutive days in a commercial motion picture theater for the profit of the producer and exhibitor. Submissions must be in 35mm or 70mm film, or in a 24- or 48-frame progressive scan Digital Cinema format with a minimum projector resolution of 2048 by 1080 pixels, source image format conforming to ST 428-1:2006 D-Cinema Distribution Master - Image Characteristics; image compression (if used)
                    conforming to ISO/IEC 15444-1 (JPEG 2000); and image and sound file formats suitable for exhibition in commercial Digital Cinema sites.

                    The audio in a Digital Cinema Package (DCP) is typically 5.1 or 7.1 channels of discrete audio. The
                    minimum for a non-mono configuration of the audio shall be three channels as Left, Center, Right (a Left/Right configuration is not acceptable in a theatrical environment).

                    The audio data shall be formatted in conformance with ST 428-2:2006 D-Cinema Distribution Master - Audio Characteristics and ST 428-3:2006 D-Cinema Distribution Master - Audio Channel Mapping and Channel Labeling.

                    2. The film must be advertised and exploited during its theatrical release in a manner considered normal and customary to theatrical feature distribution practices. The film need not have been released in the United States.

                    3. Films that, in any version, receive a nontheatrical public exhibition or distribution before their first qualifying theatrical release will not be eligible for Academy Awards consideration.

                    Nontheatrical public exhibition or distribution includes but is not limited to:
                    - Broadcast and cable television
                    - PPV/VOD
                    - DVD distribution
                    - Internet transmission

                    4. The recording of the original dialogue track as well as the completed picture must be predominantly in a language or languages other than English. Accurate, legible English-language subtitles are required.

                    5. The submitting country must certify that creative control of the motion picture was largely in the hands of citizens or residents of that country.

                    6. The Foreign Language Film Award Executive Committee shall resolve all questions of eligibility and rules.
                    i'm sure that Netflix and Apple could find ways to possibly release in the most minimal way prior to streaming live from their site if that became their intended goal.

                    i was wondering if Cannes was a qualifying "theatrical" release and came across this article, where Cannes is reconsidering allowing Netflix into Cannes after they rejected them in 2018 because they don't want to miss out, but in order to do so, Netflix, if it wins the competition must "release if you win" it in a theater, at the very least in France.

                    the concern:

                    "If Netflix says 'OK, our Cannes films can be released theatrically in France,' I'd say OK. But if not, I think they should remain out of competition,- says Eric Lagesse, co-president of France's association of independent theatrical distributors. "As a French distributor, I'm not prepared to have a Netflix movie in competition in Cannes (because) it would mean that the Palme d'Or would only help Netflix gain more subscribers.-
                    interesting, to say the least. everyone looking for ways to bend or break the rules to suit their needs. Netflix doesn't want to necessarily release their films because they want to drive subscriptions to their site not theaters. but if they want to receive the highest honors, i suppose they might have to rethink that.

                    https://www.hollywoodreporter.com/ne...roblem-1191665

                    would love to hear your thoughts on the matter. i am acknowledging this isn't a thorough examination of the topic, just starting to scrape the surface.
                    FA4
                    "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

                    Comment


                    • #25
                      Re: Endeavor IPO Lifts Veil on Exec Pay...

                      Gotta love Spielberg, but he's gotta start thinking 21st century here. This isn't the 1940s/50s Film/TV debate all over again.

                      A film's a film's a film. No doubt, a theatrical release already has many advantages for award consideration, which puts Steven et al in good stead. But if we were to ask any of the above- and below-the-line talent participating in an Amazon/Netflix/Apple et al film, I'm sure they'd say, "Wherefore thou art, there sh/could be an Oscar."

                      As you say, there are lots of ways for these filmmakers to bend the rules. I'd just rent a theater and show the film; voila, a theatrical release. Nobody says it has to be on 1200 theaters across the country, eh?

                      PS. Urp, not to mention: Some people have those darn big screens in their homes, and even have mini-theaters set up, with row seating. That's not me, of course. I'm stuck with my 21" computer monitor, and that's it. (Gotta wipe that bad smudge at ten o'clock...)
                      Last edited by catcon; 06-24-2019, 07:34 AM. Reason: added PS

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                      • #26
                        Re: Endeavor IPO Lifts Veil on Exec Pay...

                        Originally posted by catcon View Post
                        Gotta love Spielberg, but he's gotta start thinking 21st century here. This isn't the 1940s/50s Film/TV debate all over again.

                        A film's a film's a film. No doubt, a theatrical release already has many advantages for award consideration, which puts Steven et al in good stead. But if we were to ask any of the above- and below-the-line talent participating in an Amazon/Netflix/Apple et al film, I'm sure they'd say, "Wherefore thou art, there sh/could be an Oscar."
                        Wait, but TV movies have existed for almost as long as TV has existed. Spielberg's first (real) long-form effort was a TV movie 48 years ago. It wasn't eligible for an Oscar, just as no TV movie has ever been eligible for an Oscar-- not even HBO movies with auteur directors and huge stars! I don't get what's different about Netflix except that they've been brazen about exploiting loopholes.

                        Also: the Academy Awards are, in their very design, a promotional tool for Hollywood films, "Hollywood" here connoting a particular model of production and distribution that Netflix not only doesn't participate in but is actively seeking to wound. The Oscars promoting Netflix makes as much sense as the Grammys promoting BitTorrent.

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                        • #27
                          Re: Endeavor IPO Lifts Veil on Exec Pay...

                          they're still going for the IPO this fall? waiting for their 2nd quarter earnings.

                          thing is, they're probably going to look pretty good because of the deals that were already in the making before April 12th, right?

                          so, if that's the case, isn't it a bit misleading to the public? i mean, if the fight continues through the end of the year, their next hit could be big, or will the money they generate in the IPO protect/cover them?

                          it's a curious thing.
                          "Arguing that you don't care about the right to privacy b/c you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -- Edward Snowden

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