Endeavor IPO Lifts Veil on Exec Pay...

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  • Endeavor IPO Lifts Veil on Exec Pay...

    i dunno, you think these guys earned what they made?

    https://deadline.com/2019/05/endeavo...up-1202623220/

    In 2018, Emanuel made $5.3 million and Whitesell $5.1 million, according to the filing, with base salaries of $1 million apiece. When the IPO happens, likely in the next couple of months if market conditions permit, each stands to gain handsomely. The offering is targeting a valuation in the range of $10 billion, according to the Wall Street Journal. Because the stock is not yet trading, pinpointing their paydays is difficult, but the prospectus offers figures based on certain statistical models that suggest both executives are in line for $85.1 million based on unvested equity awards.

    President Mark Shapiro, 49, made $10.3 million in 2018, including a base salary of $3 million. CFO Jason Lublin topped the management team in 2018 with a total pay package of $15.2 million, the majority of which came in the form of an equity award. Chief Legal Officer Seth Krauss collected $5.1 million.
    wonder what some of those lower tiered agents think about what's going on at the top? not to mention those writers they represented. all that money to them and what did they get for their clients? hmm...

    happy reading.
    "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

  • #2
    Re: Endeavor IPO Lifts Veil on Exec Pay...

    Writers are viewed as secondary pawn chess pieces to be moved on the board. The writers' wishes are just minor annoyances for their grander scheme.

    Comment


    • #3
      Re: Endeavor IPO Lifts Veil on Exec Pay...

      the non-three initial agencies are being asked to take the bullet against the writers so CAA and WME can cash in on the IPOs that have been long planned.

      and so far, they are! but they don't have the same stream of packaging fees to keep them afloat forever. something's going to have to give sooner or later.

      Comment


      • #4
        Re: Endeavor IPO Lifts Veil on Exec Pay...

        it's almost as if they're racing to cash in on the IPO. Endeavor needs it. they have a lot of debt. but it does seem short-sighted, right? seems it would effect their opening price.

        maybe they're hoping the general public doesn't fully understand the impact the ATA/WGA disagreement?

        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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        • #5
          Re: Endeavor IPO Lifts Veil on Exec Pay...

          I know it's wrong but I think it would be so cool if their IPO tanked like uber.

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          • #6
            Re: Endeavor IPO Lifts Veil on Exec Pay...

            the more i hear about Endeavor's actual financials as disclosed ahead of the IPO the more it becomes apparent that this whole exercise between the WGA and ATA really is every other agency not named WME being asked to die on the packaging fee/production arm hill just so Ari's private equity bros can get paid

            when the mob does this, it's called a bust out

            https://www.vanityfair.com/news/2019...makes-no-sense

            https://twitter.com/arashamel/status...51828117114880

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            • #7
              Re: Endeavor IPO Lifts Veil on Exec Pay...

              IPOs making people instant billionaires is soooo fishy.

              Here's a clip from an old Law & Order Criminal Intent. It's all you need to make you lose any faith you ever had in this high finance stuff:

              L&O Criminal Intent s01e22 (Tuxedo Hill)

              I couldn't figure out how to do the start-time parameter on DailyMotion, so if you skip to 39:15 and watch till the end, you'll see how Goren nabs one of his most crafty antagonists = total humiliation.

              When I was a wee kid, my older and far smarter brother would tell me that there was cash - "paper" money, the real stuff, or the stuff you can liquidate quickly for real cash - and everything else.

              If these guys do make billions on an IPO - it's possible, since there are a lot of people who invest based on reputation rather than research - they may cash out quickly, to make it out with the only real money in the business, like the early-birds in the multi-level marketing schemes.

              In other words, is an IPO built on real money? Or the fake stuff, the stuff that's just air, in other words: "Dreams".

              Comment


              • #8
                Re: Endeavor IPO Lifts Veil on Exec Pay...

                shady shennannigans?

                Deadline article.

                WGA Blasts "Bad Behaviors" Of Unfranchised Agents, Lawyers and Managers On Package Fees & Commissions
                excerpt below:

                Member-reported examples of inappropriate conduct include:
                - An agency claims it is due a commission even though the essential deal points were negotiated by other representatives after April 12th.
                - An agency claims the Guild is giving waivers to allow agencies to complete deals on projects they set up prior to April 12th.
                - An agency claims that "most writers- are putting 10% in escrow "until the agency situation resolves itself.- The implication is that the agency will get paid for deals made during the period when it was not authorized to represent writers. Attorneys have also made this false argument to writers, and tried to make acceptance of it a condition of representing new writers.
                - An agency tries to take a package on a new project from a writer under an overall deal.
                - An agency cancels a meeting for a client it no longer represents.
                - An attorney claims he needs the former agency to participate in making a new deal or the attorney will not make the deal, this in violation of the attorney's fiduciary duty to the writer client.

                "It's particularly egregious that certain agents, attorneys and managers are focusing these ploys on younger or less experienced writers,- the guild said, "though experienced writers have also been affected. Working Rule 23 prohibits Guild members from being represented by non-franchised agencies, and that includes paying commissions to those agencies where they are not due. Please contact us immediately at [email protected] if you encounter one of these practices or anything else of concern regarding representation.-
                good to know if you're planning on entering into the fray by way of new representation.
                "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


                • #9
                  Re: Endeavor IPO Lifts Veil on Exec Pay...

                  ugh! this doesn't look good.

                  WGA Writer Peter Landesman Rebukes Guild Chief David Young On “Optics” Of Chris Keyser/Endeavor Content Series Package
                  https://deadline.com/2019/06/wga-pet...ge-1202626070/

                  is it possible this package started before the guild asked all their members to fire their agents?
                  Last edited by finalact4; 06-03-2019, 12:31 PM.
                  "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


                  • #10
                    Re: Endeavor IPO Lifts Veil on Exec Pay...

                    Originally posted by finalact4 View Post
                    ugh! this doesn't look good.



                    [ur;]https://deadline.com/2019/06/wga-peter-landesman-rebuke-david-young-chris-keyser-endeavor-content-series-package-1202626070/[/url]

                    is it possible this package started before the guild asked all their members to fire their agents?
                    It's not only possible. It's certain. The project started life two years ago, and the package has been in place for over a year. I'm not sure what Keyser was supposed to do short of just flagrantly breaching his contract and letting himself be sued.

                    The "best" part of this is that Endeavor Content (which professes to be so concerned with "client privacy" that it refuses to share info with the Guild) leaked the pitch dates to the ATA, which then pushed the negotiation to conflict with Keyser's pitches.

                    I don't like the optics of this anymore than anyone else, but Keyser did nothing wrong, and Landesman is a clown.

                    Comment


                    • #11
                      Re: Endeavor IPO Lifts Veil on Exec Pay...

                      Originally posted by AnyOtherName View Post
                      I don't like the optics of this anymore than anyone else, but Keyser did nothing wrong, and Landesman is a clown.
                      not WGA myself so i wasn't at the meetings but my understanding is Chris Keyser fully disclosed this deal whenever he spoke and made clear that unless and until the old CoC was revoked, any writer who had a similar deal in the works with potentially-conflicted production arms should follow through with the deal if possible while it was still allowed

                      Comment


                      • #12
                        Re: Endeavor IPO Lifts Veil on Exec Pay...

                        Originally posted by AnyOtherName View Post
                        It's not only possible. It's certain. The project started life two years ago, and the package has been in place for over a year. I'm not sure what Keyser was supposed to do short of just flagrantly breaching his contract and letting himself be sued.

                        The "best" part of this is that Endeavor Content (which professes to be so concerned with "client privacy" that it refuses to share info with the Guild) leaked the pitch dates to the ATA, which then pushed the negotiation to conflict with Keyser's pitches.

                        I don't like the optics of this anymore than anyone else, but Keyser did nothing wrong, and Landesman is a clown.
                        everything i've ever read from the WGA in these articles is that is was approved to have ANY deals that were initiated continue through fruition without any blow back. so why is Landesman speaking out against it when he KNOWS it's been in the works.

                        maybe he's trying to find a way to justify breaking the CoC himself? i don't know, but it seems suspect. no?
                        "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


                        • #13
                          Re: Endeavor IPO Lifts Veil on Exec Pay...

                          don't know how much to read into an announcement like this (coming one day before WGA and ATA are supposed to be back at the table) but it feels maybe just slightly weird that Paradigm would bring on two new established TV Lit agents after staffing season is basically over and while the agency still hasn't signed the new CoC:

                          https://deadline.com/2019/06/paradig...ey-1202628200/

                          anecdotally, Screenwriter Twitter seems to agree that Verve has been fairly killing it with their writers getting staffed and selling spec scripts/pitches since they're the only legit agency repping at the moment:

                          https://deadline.com/2019/05/verve-s...ec-1202623213/

                          https://deadline.com/2019/06/skydanc...er-1202626580/

                          https://deadline.com/2019/06/verve-m...nt-1202626015/

                          maybe Paradigm is feeling the pressure to get back into the game more than the Big 4 (and Gersh)?

                          Comment


                          • #14
                            Re: Endeavor IPO Lifts Veil on Exec Pay...

                            Originally posted by JoeBanks View Post
                            don't know how much to read into an announcement like this (coming one day before WGA and ATA are supposed to be back at the table) but it feels maybe just slightly weird that Paradigm would bring on two new established TV Lit agents after staffing season is basically over and while the agency still hasn't signed the new CoC:

                            https://deadline.com/2019/06/paradig...ey-1202628200/

                            anecdotally, Screenwriter Twitter seems to agree that Verve has been fairly killing it with their writers getting staffed and selling spec scripts/pitches since they're the only legit agency repping at the moment:

                            https://deadline.com/2019/05/verve-s...ec-1202623213/

                            https://deadline.com/2019/06/skydanc...er-1202626580/

                            https://deadline.com/2019/06/verve-m...nt-1202626015/

                            maybe Paradigm is feeling the pressure to get back into the game more than the Big 4 (and Gersh)?
                            UTA is buying Paradigm. Will be announced soon.

                            Comment


                            • #15
                              Re: Endeavor IPO Lifts Veil on Exec Pay...

                              Originally posted by AnyOtherName View Post
                              UTA is buying Paradigm. Will be announced soon.
                              Wow. Well, so much for Paradigm joining Verve.

                              Comment

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