The Sun Sets On Hollywood Dealmakers
Bloomberg Businessweek US|March 06, 2023
○ Sales of small film and TV studios have cooled as the industry braces for a slowdown
David Rocks
The Sun Sets On Hollywood Dealmakers

Tom Quinn thought he had a deal. The chief executive officer of Neon, the distributor behind such films as Parasite and I, Tonya, last year agreed to sell the company for more than $100 million to Steven Rales, the billionaire industrialist and backer of director Wes Anderson. But Rales got spooked by the shaky economy and pulled out at the last minute, according to a person familiar with the matter.

A slowdown in spending by streaming services, higher interest rates and a tough regulatory climate have cratered the once-hot market for independent film and TV studios. Although deals could still come together, at least a half-dozen other companies have explored—and thus far failed to close—sales, including J.J. Abrams’s Bad Robot, British visual effects maker Cinesite and kids’ media company PocketWatch Inc., according to people familiar with those situations who, like others cited in this story, asked not to be identified discussing private negotiations. The companies all declined to comment. Neon’s Quinn also declined to comment, and Rales didn’t respond to emails and calls.

Bigger players such as Lions Gate Entertainment Corp., which is looking for investors in its studio or its Starz streaming service, and Hasbro Inc., which is trying to sell the bulk of its Entertainment One production house, have also failed to consummate deals. “People seem gun-shy,” says Rich Greenfield, co-founder of media research and investment firm LightShed Partners. “The universe of buyers is limited by the regulatory environment and the debt capital markets.”

Diese Geschichte stammt aus der March 06, 2023-Ausgabe von Bloomberg Businessweek US.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der March 06, 2023-Ausgabe von Bloomberg Businessweek US.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BLOOMBERG BUSINESSWEEK USAlle anzeigen
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 Minuten  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 Minuten  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 Minuten  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 Minuten  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ Minuten  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ Minuten  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 Minuten  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 Minuten  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 Minuten  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 Minuten  |
March 20 - 27, 2023