![Image](https://m.media-amazon.com/images/M/MV5BMGJlOGJhYjEtMjJhMC00NjYzLThkYTAtN2ZkYzBiYmM1OTNjXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,0,500,281_.jpg)
Exclusive: Moonbug Entertainment is making a move into the consumer products space with the hire of Ashley Maidy.
The Riot Games industry veteran has joined the CoComelon company as Managing Director of Consumer Products. In the role, she’ll be responsible for expanding the Candle Media-owned company’s Cp business, connecting licensing and retail partners to its brands.
She’ll also lead the consumer products team, developing strategies for Moonbug’s kids brands, which has developed huge online followings while branching out on to services such as Netflix.
Maidy will report to Moonbug founder and CEO Rene Rechtman.
A former studio exec, she was previously Global Head of Consumer Products at Riot Games, the company behind League of Legends, Valorant and Emmy winner Arcane. Before that, she spent nine years at Activision Blizzard, leading licensing and partnerships for the Call of Duty, Skylanders and Candy Crush brands.
At Fox...
The Riot Games industry veteran has joined the CoComelon company as Managing Director of Consumer Products. In the role, she’ll be responsible for expanding the Candle Media-owned company’s Cp business, connecting licensing and retail partners to its brands.
She’ll also lead the consumer products team, developing strategies for Moonbug’s kids brands, which has developed huge online followings while branching out on to services such as Netflix.
Maidy will report to Moonbug founder and CEO Rene Rechtman.
A former studio exec, she was previously Global Head of Consumer Products at Riot Games, the company behind League of Legends, Valorant and Emmy winner Arcane. Before that, she spent nine years at Activision Blizzard, leading licensing and partnerships for the Call of Duty, Skylanders and Candy Crush brands.
At Fox...
- 5/13/2024
- by Jesse Whittock
- Deadline Film + TV
![Image](https://m.media-amazon.com/images/M/MV5BYTI1YTM0YzktZmVkOC00MWEwLWFiNTQtMTM5NmRmM2I2MzIxXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,0,500,281_.jpg)
The minutes are ticking down to the close of Disney’s bitter proxy fight with Nelson Peltz, whose attempt to scale the board is a direct challenge to CEO Bob Iger.
Barring any hanging chads, results from voting for members of the board of directors will be revealed Wednesday at the company’s annual shareholder meeting at 1 p.m. Et / 10 a.m. Pt. (Polls officially close at 11:59 p.m. Et tonight.) Iger fought, and authorized the spending of $40 million, to quash the interloper activist investor, but win or lose, he invited the fight by botching succession.
Fumbled regime change became Peltz’s rallying cry, far more compelling that his thoughts on strategy. It’s the reason the race was so hard-fought. Iss, the most influential proxy advisory service, dealt perhaps the biggest blow to the company by backing Peltz in a move reminiscent of its withholding votes from then-ceo...
Barring any hanging chads, results from voting for members of the board of directors will be revealed Wednesday at the company’s annual shareholder meeting at 1 p.m. Et / 10 a.m. Pt. (Polls officially close at 11:59 p.m. Et tonight.) Iger fought, and authorized the spending of $40 million, to quash the interloper activist investor, but win or lose, he invited the fight by botching succession.
Fumbled regime change became Peltz’s rallying cry, far more compelling that his thoughts on strategy. It’s the reason the race was so hard-fought. Iss, the most influential proxy advisory service, dealt perhaps the biggest blow to the company by backing Peltz in a move reminiscent of its withholding votes from then-ceo...
- 4/3/2024
- by Dade Hayes, Jill Goldsmith and Dominic Patten
- Deadline Film + TV
![Image](https://m.media-amazon.com/images/M/MV5BMGJlOGJhYjEtMjJhMC00NjYzLThkYTAtN2ZkYzBiYmM1OTNjXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,0,500,281_.jpg)
Exclusive: Moonbug Entertainment, the owner of the lucrative CoComelon franchise, is plotting European expansion and has launched its first channel for older children.
The Candle Media-owned outfit has kickstarted a Blippi & Friends 24/7 linear channel in the Mena region. The new network is the first 24/7 linear offering to be named after the Blippi IP and will feature a number of spin-offs targeted at 4-8 year olds as opposed to Moonbug’s pre-school heartland. These include Meekah and the feature-length special Big Dino Adventure, while Blippi – an educational human with a distinctive bow tie who has various cartoon friends – will feature in numerous interstitials.
Nicolas Eglau, who runs Emea, Apac and global distribution for Moonbug, said the channel was inspired by the huge success of slightly older-skewing versions of CoComelon that have performed well on Netflix recently.
“We wanted to do something new and innovative and just thought we should name...
The Candle Media-owned outfit has kickstarted a Blippi & Friends 24/7 linear channel in the Mena region. The new network is the first 24/7 linear offering to be named after the Blippi IP and will feature a number of spin-offs targeted at 4-8 year olds as opposed to Moonbug’s pre-school heartland. These include Meekah and the feature-length special Big Dino Adventure, while Blippi – an educational human with a distinctive bow tie who has various cartoon friends – will feature in numerous interstitials.
Nicolas Eglau, who runs Emea, Apac and global distribution for Moonbug, said the channel was inspired by the huge success of slightly older-skewing versions of CoComelon that have performed well on Netflix recently.
“We wanted to do something new and innovative and just thought we should name...
- 3/26/2024
- by Max Goldbart
- Deadline Film + TV
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![Image](https://m.media-amazon.com/images/M/MV5BMDVmZGIzYjctZDE1Yy00NDg1LWIzMWMtZWI2MzA5MmVmODcxXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX140_CR0,0,140,140_.jpg)
“You broke my heart.”
That’s what former Marvel Entertainment chairman and CEO Ike Perlmutter said to Bob Iger, according to The Wall Street Journal, when Iger made it clear in 2015 that he was not going to name veteran Disney executive and Perlmutter favorite Jay Rasulo as his eventual successor. (He anointed Tom Staggs instead, and Staggs was out the following year. Being a potential successor was hazardous duty at Disney, at least in those days.)
Iger’s relationship with Perlmutter went sharply downhill from there and last March, after incrementally stripping Perlmutter of his duties at Marvel, Iger ejected the contentious billionaire from the company altogether. Even before that happened, Perlmutter had backed his friend and Palm Beach neighbor, Nelson Peltz, in his quest for a seat on Disney’s board, which Peltz and Perlmutter argue is too cozy with Iger to be effective.
Peltz dropped that first run...
That’s what former Marvel Entertainment chairman and CEO Ike Perlmutter said to Bob Iger, according to The Wall Street Journal, when Iger made it clear in 2015 that he was not going to name veteran Disney executive and Perlmutter favorite Jay Rasulo as his eventual successor. (He anointed Tom Staggs instead, and Staggs was out the following year. Being a potential successor was hazardous duty at Disney, at least in those days.)
Iger’s relationship with Perlmutter went sharply downhill from there and last March, after incrementally stripping Perlmutter of his duties at Marvel, Iger ejected the contentious billionaire from the company altogether. Even before that happened, Perlmutter had backed his friend and Palm Beach neighbor, Nelson Peltz, in his quest for a seat on Disney’s board, which Peltz and Perlmutter argue is too cozy with Iger to be effective.
Peltz dropped that first run...
- 1/3/2024
- by Kim Masters
- The Hollywood Reporter - Movie News
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![Image](https://m.media-amazon.com/images/M/MV5BYzdmOTE0NjktMzc2NC00ZjJlLWExNzktZTlkN2ExZDczMzQ5XkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX140_CR0,0,140,140_.jpg)
Disney’s former CFO is now part of Trian’s proxy fight with the entertainment giant.
Jay Rasulo, who was once seen as one of Disney CEO Bob Iger’s heirs apparent at the company, has been nominated for a seat on the company’s board by Trian Partners. As expected, Trian also nominated its founder Nelson Peltz for a board seat, as it officially kicks off a new proxy battle with the company. It is not clear which current Disney board members Trian will seek to replace.
“The Disney I know and love has lost its way,” said Rasulo in a statement. “As independent voices in the boardroom, Nelson and I are confident that the combination of my decades of experience at Disney, Nelson’s significant boardroom skills and history of driving positive strategic change, and our combined consumer brands expertise and financial acumen, will be additive to the Disney Board.
Jay Rasulo, who was once seen as one of Disney CEO Bob Iger’s heirs apparent at the company, has been nominated for a seat on the company’s board by Trian Partners. As expected, Trian also nominated its founder Nelson Peltz for a board seat, as it officially kicks off a new proxy battle with the company. It is not clear which current Disney board members Trian will seek to replace.
“The Disney I know and love has lost its way,” said Rasulo in a statement. “As independent voices in the boardroom, Nelson and I are confident that the combination of my decades of experience at Disney, Nelson’s significant boardroom skills and history of driving positive strategic change, and our combined consumer brands expertise and financial acumen, will be additive to the Disney Board.
- 12/14/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
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Moonbug Entertainment, the kids’ entertainment powerhouse behind the hit “CoComelon” franchise, is bringing on board its first chief marketing officer: Peter Stone, a nine-year veteran of Netflix.
In the new role, Stone will be responsible for Moonbug’s global marketing strategy, as well as the evolution and growth of its brands. He will be based in Moonbug’s London office and starts Dec. 6, reporting to co-founder and CEO René Rechtman.
Stone joins Moonbug as the company says its brands “continue to see significant expansion.” Among recent developments, it called out Blippi’s debut on Roblox, “Morphle” soon launching on Disney+ and Disney Junior, and the new CoComelon show “CoComelon Lane” launching exclusively on Netflix.
Moonbug is part of Candle Media, the next-gen rollup play headed by ex-Disney execs Kevin Mayer and Tom Staggs, backed by private-equity firm Blackstone Group. Candle acquired Moonbug in 2021 in a deal worth about $3 billion.
Stone,...
In the new role, Stone will be responsible for Moonbug’s global marketing strategy, as well as the evolution and growth of its brands. He will be based in Moonbug’s London office and starts Dec. 6, reporting to co-founder and CEO René Rechtman.
Stone joins Moonbug as the company says its brands “continue to see significant expansion.” Among recent developments, it called out Blippi’s debut on Roblox, “Morphle” soon launching on Disney+ and Disney Junior, and the new CoComelon show “CoComelon Lane” launching exclusively on Netflix.
Moonbug is part of Candle Media, the next-gen rollup play headed by ex-Disney execs Kevin Mayer and Tom Staggs, backed by private-equity firm Blackstone Group. Candle acquired Moonbug in 2021 in a deal worth about $3 billion.
Stone,...
- 11/30/2023
- by Todd Spangler
- Variety Film + TV
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Media entrepreneur Byron Allen, one of many parties interested in acquiring ABC and other linear TV assets from Disney, said he has “access to plenty of capital,” and Disney’s internal deliberations are the main factor preventing a formal sale process from starting.
“Capital’s not an issue,” he said of securing financial backing for his $10 billion bid. “I have access to plenty of capital. … There’s trillions of dollars out there looking for a safe place to invest and get it back with a return.”
Allen provided the update during a sit-down at the Code Conference with CNBC correspondent Julia Boorstin. When she asked Allen if he had a specific plan for how the bid would be financed, he replied, “Oh, absolutely,” without going into any details.
Earlier this month, word emerged that local TV giant Nexstar Media Group had held talks with Disney about ABC and the company’s eight owned local stations.
“Capital’s not an issue,” he said of securing financial backing for his $10 billion bid. “I have access to plenty of capital. … There’s trillions of dollars out there looking for a safe place to invest and get it back with a return.”
Allen provided the update during a sit-down at the Code Conference with CNBC correspondent Julia Boorstin. When she asked Allen if he had a specific plan for how the bid would be financed, he replied, “Oh, absolutely,” without going into any details.
Earlier this month, word emerged that local TV giant Nexstar Media Group had held talks with Disney about ABC and the company’s eight owned local stations.
- 9/27/2023
- by Dade Hayes
- Deadline Film + TV
![Robert A. Iger at an event for Brave (2012)](https://m.media-amazon.com/images/M/MV5BMTQyMjA4MTA3NF5BMl5BanBnXkFtZTcwMTY4Mjc5Nw@@._V1_QL75_UY207_CR2,0,140,207_.jpg)
![Robert A. Iger at an event for Brave (2012)](https://m.media-amazon.com/images/M/MV5BMTQyMjA4MTA3NF5BMl5BanBnXkFtZTcwMTY4Mjc5Nw@@._V1_QL75_UY207_CR2,0,140,207_.jpg)
Despite much speculation on Wall Street and in the media that Apple should buy Disney, one analyst believes that there’s a simpler solution that could benefit both parties: a strategic partnership or acquisition of ESPN.
In a research note to clients on Wednesday, Wedbush analyst Dan Ives said that an ESPN deal would be a “no brainer.”
“We believe Apple would be much more interested in the ESPN asset than Disney overall as Cupertino is focused on a number of other key strategic initiatives with an acquisition of the Mouse not making a ton of sense in our view,” Ives wrote. “That said, acquiring ESPN ($50 billion+ price tag likely) would make a ton of strategic sense, gain valuable sports content, major TV rights across each of the major professional and college sports packages, and change the cross-sell opportunities and attractiveness of Apple TV looking ahead while putting Apple on the sports map globally speaking.
In a research note to clients on Wednesday, Wedbush analyst Dan Ives said that an ESPN deal would be a “no brainer.”
“We believe Apple would be much more interested in the ESPN asset than Disney overall as Cupertino is focused on a number of other key strategic initiatives with an acquisition of the Mouse not making a ton of sense in our view,” Ives wrote. “That said, acquiring ESPN ($50 billion+ price tag likely) would make a ton of strategic sense, gain valuable sports content, major TV rights across each of the major professional and college sports packages, and change the cross-sell opportunities and attractiveness of Apple TV looking ahead while putting Apple on the sports map globally speaking.
- 8/17/2023
- by Lucas Manfredi
- The Wrap
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![Kevin Mayer](https://m.media-amazon.com/images/M/MV5BOTc0MTljODAtNWJmNi00NDBjLWFkYWUtNDI2ZGZmYjU1MzU4XkEyXkFqcGdeQXVyMDc2NTEzMw@@._V1_QL75_UY207_CR5,0,140,207_.jpg)
Activist investor Nelson Peltz has increased his stake in the Walt Disney Company after dropping a proxy fight against the entertainment giant earlier this year.
According to a 13F filing with the U.S. Securities and Exchange Commission, Peltz’s firm Trian Partners held 6.42 million Disney shares valued at $573.6 million as of the second quarter of 2023, up from 5.92 million shares in Q1.
A spokesperson for Trian did not immediately return TheWrap’s request for comment.
Peltz and Trian ended the proxy battle against Disney in February after the company announced it would be restructuring its business and launching an effort to reduce costs by approximately $5.5 billion, including $3 billion on the content side and another $2.5 billion in non-content spending. That effort has included layoffs of 7,000 employees and content write-offs.
“We made important management changes and efficiency improvement to create a more cost effective, coordinated and streamline approach to our operations. We...
According to a 13F filing with the U.S. Securities and Exchange Commission, Peltz’s firm Trian Partners held 6.42 million Disney shares valued at $573.6 million as of the second quarter of 2023, up from 5.92 million shares in Q1.
A spokesperson for Trian did not immediately return TheWrap’s request for comment.
Peltz and Trian ended the proxy battle against Disney in February after the company announced it would be restructuring its business and launching an effort to reduce costs by approximately $5.5 billion, including $3 billion on the content side and another $2.5 billion in non-content spending. That effort has included layoffs of 7,000 employees and content write-offs.
“We made important management changes and efficiency improvement to create a more cost effective, coordinated and streamline approach to our operations. We...
- 8/15/2023
- by Lucas Manfredi
- The Wrap
![Image](https://m.media-amazon.com/images/M/MV5BMzYzMWZkYzMtYTg1NC00N2YyLTk4YWEtNzAyYmIyN2I5MjY2XkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,26,500,281_.jpg)
Disney CEO Bob Iger shook up the entertainment industry and Wall Street last month when he declared to CNBC at Sun Valley that linear television may be non-core and that he’s looking for partners for ESPN as the company pivots to streaming.
He’s still all in on filmed entertainment, television content studios and theme parks. But Disney could look very different when Iger exits at the end of his contract in 2026 — if he’s found a successor by then. The CEO recently extended his contract and said today that’s because there’s much work to be done to transform the company.
Linear television, from ABC to FX, Freeform and National Geographic, broadly remains highly profitable for Disney today, he acknolwdged on a conference call after quaterly earnings. But “the trends being fueled by cord cutting are unmistakable. And, as I have stated before, we are thinking expansively...
He’s still all in on filmed entertainment, television content studios and theme parks. But Disney could look very different when Iger exits at the end of his contract in 2026 — if he’s found a successor by then. The CEO recently extended his contract and said today that’s because there’s much work to be done to transform the company.
Linear television, from ABC to FX, Freeform and National Geographic, broadly remains highly profitable for Disney today, he acknolwdged on a conference call after quaterly earnings. But “the trends being fueled by cord cutting are unmistakable. And, as I have stated before, we are thinking expansively...
- 8/10/2023
- by Jill Goldsmith
- Deadline Film + TV
![Robert A. Iger at an event for Brave (2012)](https://m.media-amazon.com/images/M/MV5BMTQyMjA4MTA3NF5BMl5BanBnXkFtZTcwMTY4Mjc5Nw@@._V1_QL75_UY207_CR2,0,140,207_.jpg)
![Robert A. Iger at an event for Brave (2012)](https://m.media-amazon.com/images/M/MV5BMTQyMjA4MTA3NF5BMl5BanBnXkFtZTcwMTY4Mjc5Nw@@._V1_QL75_UY207_CR2,0,140,207_.jpg)
Disney CEO Bob Iger closed out the entertainment giant’s third-quarter earnings call on Wednesday by addressing chatter on Wall Street that the entertainment giant could be sold to a larger tech company.
“I just am not going to speculate about the potential for Disney to be acquired by any company, whether they’re a technology company or not,” Iger told analysts. “Obviously anyone who wanted to speculate about such things would have to immediately consider the global regulatory environment. I’ll say no more than that. It’s just, it’s not something that we obsess about.”
Apple has been viewed as a leading potential suitor for Disney, a scenario Iger called “pure speculation” during an employee town hall in November.
“Even though [Disney] has a market cap of $182 billion, we believe this is too small to win the streaming wars as a standalone company,” Needham & Company analyst Laura Martin...
“I just am not going to speculate about the potential for Disney to be acquired by any company, whether they’re a technology company or not,” Iger told analysts. “Obviously anyone who wanted to speculate about such things would have to immediately consider the global regulatory environment. I’ll say no more than that. It’s just, it’s not something that we obsess about.”
Apple has been viewed as a leading potential suitor for Disney, a scenario Iger called “pure speculation” during an employee town hall in November.
“Even though [Disney] has a market cap of $182 billion, we believe this is too small to win the streaming wars as a standalone company,” Needham & Company analyst Laura Martin...
- 8/9/2023
- by Lucas Manfredi
- The Wrap
![Image](https://m.media-amazon.com/images/M/MV5BMWU0ZDNjM2YtYWJmZi00MzExLWIyZTMtMDBjNTA1NjY3ZTAyXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX140_CR0,0,140,140_.jpg)
![Image](https://m.media-amazon.com/images/M/MV5BMWU0ZDNjM2YtYWJmZi00MzExLWIyZTMtMDBjNTA1NjY3ZTAyXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX140_CR0,0,140,140_.jpg)
A few weeks before Bob Iger sat down for that CNBC interview in which he said Disney’s linear TV networks, like ABC and FX, “may not be core” to the company’s business, a veteran Hollywood executive mused to The Hollywood Reporter on the possibility of a deal that would rock the industry: Apple buying Disney. It’s an idea that keeps being discussed, even though many top executives have scoffed at it and many still do. Apple doesn’t want to buy a studio, they say, and there’s no way the feds would allow a huge deal like that to go through.
But this observer wasn’t so quick to rule it out. “I don’t think [Apple] would buy the company as it presently exists,” he said. “But if you see Bob start to divest things … that feels like he’s prepping for a sale. And there...
But this observer wasn’t so quick to rule it out. “I don’t think [Apple] would buy the company as it presently exists,” he said. “But if you see Bob start to divest things … that feels like he’s prepping for a sale. And there...
- 8/9/2023
- by Kim Masters and Alex Weprin
- The Hollywood Reporter - Movie News
![Robert A. Iger at an event for Brave (2012)](https://m.media-amazon.com/images/M/MV5BMTQyMjA4MTA3NF5BMl5BanBnXkFtZTcwMTY4Mjc5Nw@@._V1_QL75_UY207_CR2,0,140,207_.jpg)
![Robert A. Iger at an event for Brave (2012)](https://m.media-amazon.com/images/M/MV5BMTQyMjA4MTA3NF5BMl5BanBnXkFtZTcwMTY4Mjc5Nw@@._V1_QL75_UY207_CR2,0,140,207_.jpg)
From Hollywood to Wall Street, all eyes in the media and entertainment industry will be trained on Disney Wednesday as it announces its latest quarterly earnings. And question No. 1 from analysts to CEO Bob Iger should be his thinking about M&a.
Those questions should take on more urgency now that Iger has retained former top lieutenants Kevin Mayer and partner Tom Staggs — currently running Candle Media as co-CEOs — in a “consulting capacity” to help decide ESPN’s fate. This intriguing development followed Iger’s recent uncharacteristically frank and gloomy comments that pointed to the notion of Disney shedding some of the assets it built up under his first run as CEO.
Apple is still the most obvious potential buyer for a slimmed-down Disney, as I recently noted. But Mayer and Staggs’ reentry to the Magic Kingdom could make Disney the happiest place on Earth again for them, as well as shareholders.
Those questions should take on more urgency now that Iger has retained former top lieutenants Kevin Mayer and partner Tom Staggs — currently running Candle Media as co-CEOs — in a “consulting capacity” to help decide ESPN’s fate. This intriguing development followed Iger’s recent uncharacteristically frank and gloomy comments that pointed to the notion of Disney shedding some of the assets it built up under his first run as CEO.
Apple is still the most obvious potential buyer for a slimmed-down Disney, as I recently noted. But Mayer and Staggs’ reentry to the Magic Kingdom could make Disney the happiest place on Earth again for them, as well as shareholders.
- 8/8/2023
- by Peter Csathy
- The Wrap
![Robert A. Iger at an event for Brave (2012)](https://m.media-amazon.com/images/M/MV5BMTQyMjA4MTA3NF5BMl5BanBnXkFtZTcwMTY4Mjc5Nw@@._V1_QL75_UY207_CR2,0,140,207_.jpg)
![Robert A. Iger at an event for Brave (2012)](https://m.media-amazon.com/images/M/MV5BMTQyMjA4MTA3NF5BMl5BanBnXkFtZTcwMTY4Mjc5Nw@@._V1_QL75_UY207_CR2,0,140,207_.jpg)
Bob Iger bought himself time by extending his contract through 2026. But the Disney CEO still has a lot to juggle when he addresses Wall Street on Wednesday.
Normally a punctilious diplomat, Iger sent a shockwave through his company and the industry when he all but put Disney’s broadcast and cable networks up for sale by telling CNBC they “may not be core.” He’s on the hunt for strategic partners to take ESPN fully direct-to-consumer. And there’s still the Hulu deal he has to clinch with Comcast.
It all adds up to a heady moment and a heavy burden for the two-time CEO. On his first stint, he reshaped Disney by adding to it with acquisitions: Pixar, Marvel, Lucasfilm, Fox. Now he may have to subtract. The hard choices may end up being which ball to drop.
Challenges abound outside of these strategic dilemmas. Investors have raised concerns...
Normally a punctilious diplomat, Iger sent a shockwave through his company and the industry when he all but put Disney’s broadcast and cable networks up for sale by telling CNBC they “may not be core.” He’s on the hunt for strategic partners to take ESPN fully direct-to-consumer. And there’s still the Hulu deal he has to clinch with Comcast.
It all adds up to a heady moment and a heavy burden for the two-time CEO. On his first stint, he reshaped Disney by adding to it with acquisitions: Pixar, Marvel, Lucasfilm, Fox. Now he may have to subtract. The hard choices may end up being which ball to drop.
Challenges abound outside of these strategic dilemmas. Investors have raised concerns...
- 8/8/2023
- by Lucas Manfredi
- The Wrap
![Image](https://m.media-amazon.com/images/M/MV5BMzNhMzlhNWUtMWI2My00ZmM3LTlkYzEtODg2MTY4NjE0NTZkXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,3,500,281_.jpg)
S&P today affirmed its A- investment grade credit rating for Disney after CEO Bob Iger, in a recent interview with CNBC, injected a big dose of uncertainty into what the company may look like going forward.
Iger said he and the board are considering a number of strategic options for ESPN and linear television, “Some of these options could change Disney’s business mix over the longer term.” the the giant ratings agency said in a note Tuesday. Iger recently brought on former top Disney executives Tom Staggs and Kevin Mayer to consult on options for ESPN. The two are founders and co-CEOs of Candle Media.
S&P also affirmed its “positive” outlook, anticipating the media giant will continue to reduce leverage this year and next. “The outlook is positive, reflecting our expectations that leverage could decline…depending on how the Hulu put-call is resolved and how its direct-to-consumer (Dtc) segment performs.
Iger said he and the board are considering a number of strategic options for ESPN and linear television, “Some of these options could change Disney’s business mix over the longer term.” the the giant ratings agency said in a note Tuesday. Iger recently brought on former top Disney executives Tom Staggs and Kevin Mayer to consult on options for ESPN. The two are founders and co-CEOs of Candle Media.
S&P also affirmed its “positive” outlook, anticipating the media giant will continue to reduce leverage this year and next. “The outlook is positive, reflecting our expectations that leverage could decline…depending on how the Hulu put-call is resolved and how its direct-to-consumer (Dtc) segment performs.
- 8/1/2023
- by Jill Goldsmith
- Deadline Film + TV
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Tom Staggs and Kevin Mayer, two former high-ranking Disney execs, are working for the Mouse House again — in a consulting capacity.
The duo, who are the co-CEOs of media-rollup play Candle Media, have been retained by Disney to help analyze and develop strategic options for ESPN, according to two sources familiar with the arrangement. Staggs, formerly Disney’s chief operating officer, and Mayer, previously chairman of Disney’s Direct-to-Consumer and International and briefly CEO of TikTok, will work with Jimmy Pitaro, chairman, ESPN and Sports Content, on developing a plan for what Disney will do with ESPN going forward. Sources noted that Staggs and Mayer will retain their roles at Candle Media.
The news comes on the heels of Disney CEO Bob Iger’s comments in a July 13 CNBC interview that the company was looking for a strategic partner for ESPN. Subsequently CNBC reported that Disney has had talks with the NFL,...
The duo, who are the co-CEOs of media-rollup play Candle Media, have been retained by Disney to help analyze and develop strategic options for ESPN, according to two sources familiar with the arrangement. Staggs, formerly Disney’s chief operating officer, and Mayer, previously chairman of Disney’s Direct-to-Consumer and International and briefly CEO of TikTok, will work with Jimmy Pitaro, chairman, ESPN and Sports Content, on developing a plan for what Disney will do with ESPN going forward. Sources noted that Staggs and Mayer will retain their roles at Candle Media.
The news comes on the heels of Disney CEO Bob Iger’s comments in a July 13 CNBC interview that the company was looking for a strategic partner for ESPN. Subsequently CNBC reported that Disney has had talks with the NFL,...
- 7/31/2023
- by Todd Spangler
- Variety Film + TV
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Disney CEO Bob Iger is bringing aboard former top studio execs Kevin Mayer and Tom Staggs to help advise on a possible sale of linear TV assets beyond ESPN, including the ABC broadcast network and the FX cable channel, The Hollywood Reporter has confirmed.
Mayer and Staggs, who founded Candle Media in 2021, offered no direct comment on any renewed ties with Disney. But it’s understood that they have been tapped separately and as consultants to work alongside Iger, ESPN chief Jimmy Pitaro and other Disney TV execs to figure out the studio’s legacy TV business amid a rapid shift to streaming platforms.
Their deliberations follow Iger musing during a recent CNBC interview about Disney’s future in streaming as linear TV assets struggle amid headwinds from a soft advertising market and a consumer shift away from traditional cable TV packages.
Of Disney’s linear TV networks, Iger ventured,...
Mayer and Staggs, who founded Candle Media in 2021, offered no direct comment on any renewed ties with Disney. But it’s understood that they have been tapped separately and as consultants to work alongside Iger, ESPN chief Jimmy Pitaro and other Disney TV execs to figure out the studio’s legacy TV business amid a rapid shift to streaming platforms.
Their deliberations follow Iger musing during a recent CNBC interview about Disney’s future in streaming as linear TV assets struggle amid headwinds from a soft advertising market and a consumer shift away from traditional cable TV packages.
Of Disney’s linear TV networks, Iger ventured,...
- 7/31/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
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Prince Andrew’s secrets are set to be uncovered, again, this time on A&e.
The network is launching Secrets of Prince Andrew, from Fulwell 73’s Bitachon365 and Candle Media, on August 21.
The documentary special will explore the British Royals’ scandal-plagued life, including the disastrous BBC Newsnight interview in November 2019 that shook the monarchy to its core.
It is the latest U.S. documentary about Prince Andrew, after Peacock launched Banished last year. Netflix is also dramatizing the story for a movie with Gillian Anderson.
That car-crash interview, which forensically examined the Duke’s relationship with Jeffrey Epstein and his paramour Ghislaine Maxwell, who was convicted of child sex trafficking and other offenses.
During the interview the Prince said that he regretted continuing to associate with Epstein after the financier pled guilty to soliciting underage sex in 2008. However, the fact that he offered no apology to Epstein’s victims caused uproar and global headlines.
The network is launching Secrets of Prince Andrew, from Fulwell 73’s Bitachon365 and Candle Media, on August 21.
The documentary special will explore the British Royals’ scandal-plagued life, including the disastrous BBC Newsnight interview in November 2019 that shook the monarchy to its core.
It is the latest U.S. documentary about Prince Andrew, after Peacock launched Banished last year. Netflix is also dramatizing the story for a movie with Gillian Anderson.
That car-crash interview, which forensically examined the Duke’s relationship with Jeffrey Epstein and his paramour Ghislaine Maxwell, who was convicted of child sex trafficking and other offenses.
During the interview the Prince said that he regretted continuing to associate with Epstein after the financier pled guilty to soliciting underage sex in 2008. However, the fact that he offered no apology to Epstein’s victims caused uproar and global headlines.
- 7/31/2023
- by Peter White
- Deadline Film + TV
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Bob Iger, with pressure mounting on multiple fronts, has turned to former top Disney executives Tom Staggs and Kevin Mayer, hiring them as consultants to the media giant as it defines its strategy.
The two will take a hard look at ESPN, said a person familiar with the situation. Given their years of experience both in and outside of Disney, it seems likely they’d weigh in across other areas of the company, as well.
The two are now co-CEOs of Candle Media, a company they founded in 2021 with backing from the Blackstone Group.
A Candle spokesperson declined comment. A Disney rep wasn’t immediately available.
The news comes after Iger dropped a bombshell interview with CNBC where, among other things, he said linear television “may not be core” to Disney’s business. Speaking on the sidelines of the Sun Valley conference, he told the network that Disney is looking...
The two will take a hard look at ESPN, said a person familiar with the situation. Given their years of experience both in and outside of Disney, it seems likely they’d weigh in across other areas of the company, as well.
The two are now co-CEOs of Candle Media, a company they founded in 2021 with backing from the Blackstone Group.
A Candle spokesperson declined comment. A Disney rep wasn’t immediately available.
The news comes after Iger dropped a bombshell interview with CNBC where, among other things, he said linear television “may not be core” to Disney’s business. Speaking on the sidelines of the Sun Valley conference, he told the network that Disney is looking...
- 7/31/2023
- by Jill Goldsmith
- Deadline Film + TV
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Kevin Mayer and Tom Staggs are being tapped to consult with Disney CEO Bob Iger, ESPN chairman Jimmy Pitaro and others about the future of the entertainment giant’s linear properties as they relate to the company’s streaming strategy, an individual with knowledge told TheWrap.
Staggs, who previously served as Disney’s chief financial officer and chief operating officer, departed the company in 2016 and went on to found Candle Media in 2021, which has a number of brands including Moonbug Entertainment and Reese Witherspoon’s Hello Sunshine.
Mayer, who was the architect of Disney’s streaming strategy, left to run TikTok in 2020 and joined Candle Media in 2022 as Staggs’ co-ceo. For years, Mayer served as Iger’s top strategic M&a partner, helping steer the acquisitions of Marvel, Pixar, Lucasfilm and 20th Century Fox.
Disney and Candle Media didn’t immediately return TheWrap’s request for comment. Puck first reported the news.
Staggs, who previously served as Disney’s chief financial officer and chief operating officer, departed the company in 2016 and went on to found Candle Media in 2021, which has a number of brands including Moonbug Entertainment and Reese Witherspoon’s Hello Sunshine.
Mayer, who was the architect of Disney’s streaming strategy, left to run TikTok in 2020 and joined Candle Media in 2022 as Staggs’ co-ceo. For years, Mayer served as Iger’s top strategic M&a partner, helping steer the acquisitions of Marvel, Pixar, Lucasfilm and 20th Century Fox.
Disney and Candle Media didn’t immediately return TheWrap’s request for comment. Puck first reported the news.
- 7/31/2023
- by Lucas Manfredi
- The Wrap
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Move comes amid course-correction as company faces financial headwinds.
Disney has extended CEO Bob Iger’s contract by two years ending December 21 2026 to ensure “continuity of leadership during the Company’s ongoing transformation”.
While many in Hollywood had expected Iger to extend his tenure – as happened before when he was CEO from 2005-2020 – the move also indicates the board is not confident there are battle-ready successors on the near horizon.
The announcement comes seven months after Iger’s shock return and the ouster of Bob Chapek. Since then Iger has restructured Disney and implemented a plan to lay off 7,000 staffer...
Disney has extended CEO Bob Iger’s contract by two years ending December 21 2026 to ensure “continuity of leadership during the Company’s ongoing transformation”.
While many in Hollywood had expected Iger to extend his tenure – as happened before when he was CEO from 2005-2020 – the move also indicates the board is not confident there are battle-ready successors on the near horizon.
The announcement comes seven months after Iger’s shock return and the ouster of Bob Chapek. Since then Iger has restructured Disney and implemented a plan to lay off 7,000 staffer...
- 7/12/2023
- by Jeremy Kay
- ScreenDaily
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The Bob Iger era at Disney will continue beyond its scheduled end date.
The Walt Disney Co. says that the venerable CEO has signed a contract extension, one that will keep him at the helm of the media and entertainment giant through 2026. The decision by the board was unanimous, and cited the need to transform the company and to execute a transition plan, “which remains a priority for the board,” the company said.
“Time and again, Bob has shown an unparalleled ability to successfully transform Disney to drive future growth and financial returns, earning him a reputation as one of the world’s best CEOs,” said Mark Parker, chairman of The Walt Disney Company. “Bob has once again set Disney on the right strategic path for ongoing value creation, and to ensure the successful completion of this transformation while also allowing ample time to position a new CEO for long-term success,...
The Walt Disney Co. says that the venerable CEO has signed a contract extension, one that will keep him at the helm of the media and entertainment giant through 2026. The decision by the board was unanimous, and cited the need to transform the company and to execute a transition plan, “which remains a priority for the board,” the company said.
“Time and again, Bob has shown an unparalleled ability to successfully transform Disney to drive future growth and financial returns, earning him a reputation as one of the world’s best CEOs,” said Mark Parker, chairman of The Walt Disney Company. “Bob has once again set Disney on the right strategic path for ongoing value creation, and to ensure the successful completion of this transformation while also allowing ample time to position a new CEO for long-term success,...
- 7/12/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
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Exclusive: Candle Media’s Exile Content Studio is partnering with acclaimed Colombian journalist Daniel Coronell and director Gaz Alazraki (Father Of The Bride) to produce a scripted feature about the incredible recent news story of the four children, including a baby, that survived a plane crash and 40 days in the Amazon Rainforest before being rescued by Colombian special forces.
A story this remarkable was unlikely to go unnoticed by the industry for long, but this is a quick turnaround even for Hollywood.
Earlier this month, world media was captivated by the story of the four children – Lesly, 13; Soleiny, 9; Tien Noriel, 4; and Cristin, 1 – who were found alive in the Amazon after a rescue operation that searched more than 1,600 miles of dense forest.
The children survived the plane crash that killed their mother, the pilot and the only other adult on board, and then got through the dense jungle, alive with jaguars,...
A story this remarkable was unlikely to go unnoticed by the industry for long, but this is a quick turnaround even for Hollywood.
Earlier this month, world media was captivated by the story of the four children – Lesly, 13; Soleiny, 9; Tien Noriel, 4; and Cristin, 1 – who were found alive in the Amazon after a rescue operation that searched more than 1,600 miles of dense forest.
The children survived the plane crash that killed their mother, the pilot and the only other adult on board, and then got through the dense jungle, alive with jaguars,...
- 6/27/2023
- by Andreas Wiseman
- Deadline Film + TV
In TikTok Executive Overhaul, Disney Vet Zenia Mucha Joins As Chief Brand And Communications Officer
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TikTok is overhauling its executive ranks, with Chief Operating Officer V Pappas leaving the company and longtime Disney communications chief Zenia Mucha joining in a newly created role.
Mucha, who has done consulting work for TikTok and other companies since leaving her Disney post in early 2022, will take the title of Chief Brand and Communications Officer. Adam Presser, current TikTok Chief of Staff, will become TikTok’s Head of Operations.
CEO Shou Chew laid out the changes at TikTok in a memo to employees (read it below).
Installing Mucha is a key step as the company looks to counter growing criticism on many fronts due to its parent company’s roots in China and claims that it serves up inappropriate content to children and lets objectionable videos circulate. In a 20-year career at Disney, Mucha was a key member of Bob Iger’s executive team as the media company pulled...
Mucha, who has done consulting work for TikTok and other companies since leaving her Disney post in early 2022, will take the title of Chief Brand and Communications Officer. Adam Presser, current TikTok Chief of Staff, will become TikTok’s Head of Operations.
CEO Shou Chew laid out the changes at TikTok in a memo to employees (read it below).
Installing Mucha is a key step as the company looks to counter growing criticism on many fronts due to its parent company’s roots in China and claims that it serves up inappropriate content to children and lets objectionable videos circulate. In a 20-year career at Disney, Mucha was a key member of Bob Iger’s executive team as the media company pulled...
- 6/22/2023
- by Dade Hayes
- Deadline Film + TV
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Candle Media and TikTok have announced a partnership that will span multiple brands and formats. Candle, which has put together a lineup of prominent media properties, will team with TikTok to co-develop premium programming and branded content.
The new projects will expand Candle’s existing presence on TikTok. The deep-pocketed firm, led by former Disney execs Kevin Mayer and Tom Staggs, has used its acquisitions to reach approximately 600 million followers across all social platforms. Some of its properties, such as the political brand Attn and Latin American media outlet Exile Content, have made inroads with TikTok’s growing audience.
Candle’s deal with TikTok will give advertisers direct access to those properties. The media company is joining the TikTok Pulse Premiere program, which the ByteDance-owned app announced during its most recent NewFronts presentation. Through Pulse Premiere, brands will be able to buy space next to videos from Attn, Exile Content,...
The new projects will expand Candle’s existing presence on TikTok. The deep-pocketed firm, led by former Disney execs Kevin Mayer and Tom Staggs, has used its acquisitions to reach approximately 600 million followers across all social platforms. Some of its properties, such as the political brand Attn and Latin American media outlet Exile Content, have made inroads with TikTok’s growing audience.
Candle’s deal with TikTok will give advertisers direct access to those properties. The media company is joining the TikTok Pulse Premiere program, which the ByteDance-owned app announced during its most recent NewFronts presentation. Through Pulse Premiere, brands will be able to buy space next to videos from Attn, Exile Content,...
- 6/20/2023
- by Sam Gutelle
- Tubefilter.com
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Kevin Mayer is getting back in business with TikTok.
The former TikTok CEO and top Disney executive now runs the content company Candle Media. On Tuesday, Candle said that it would be striking a “broad strategic partnership” with TikTok, one that will see it co-developing premium content with the video platform, with branded content and advertising sales as part of the deal.
The TikTok-Candle deal was announced at the Cannes Lions advertising festival.
Mayer, of course, served as the CEO of TikTok in 2020, leaving in August as the Trump administration threatened to ban the app in the U.S. Mayer left a top job at Disney to take the TikTok CEO role (he had been in contention to succeed Bob Iger as CEO, though Bob Chapek ended up getting the job).
Mayer and another former top Disney exec, Tom Staggs, founded Candle Media in 2021. Their first major acquisition was Hello Sunshine,...
The former TikTok CEO and top Disney executive now runs the content company Candle Media. On Tuesday, Candle said that it would be striking a “broad strategic partnership” with TikTok, one that will see it co-developing premium content with the video platform, with branded content and advertising sales as part of the deal.
The TikTok-Candle deal was announced at the Cannes Lions advertising festival.
Mayer, of course, served as the CEO of TikTok in 2020, leaving in August as the Trump administration threatened to ban the app in the U.S. Mayer left a top job at Disney to take the TikTok CEO role (he had been in contention to succeed Bob Iger as CEO, though Bob Chapek ended up getting the job).
Mayer and another former top Disney exec, Tom Staggs, founded Candle Media in 2021. Their first major acquisition was Hello Sunshine,...
- 6/20/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
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At the Walt Disney Co., the CFO job has long been intertwined with rumors of succession.
In an earlier era, Tom Staggs had been Disney’s CFO, before moving to oversee its parks business and then to the COO position, where he was widely seen as a possible successor to Bob Iger.
Jay Rasulo, who succeeded Staggs as CFO, stepped down from the role after Staggs’ promotion to COO, as the Iger deputies grappled over who would become second-in-command to Iger, the entertainment industry’s honorary captain.
Neither of those executives are still with Disney. And yet nearly a decade later, Iger is still in charge in his second tour as CEO, and the CFO role is once again throwing a wrench in Disney’s succession drama.
Christine McCarthy, who was named Disney’s CFO in 2015 following Rasulo’s resignation, said on June 15 that she would take a family medical leave of absence,...
In an earlier era, Tom Staggs had been Disney’s CFO, before moving to oversee its parks business and then to the COO position, where he was widely seen as a possible successor to Bob Iger.
Jay Rasulo, who succeeded Staggs as CFO, stepped down from the role after Staggs’ promotion to COO, as the Iger deputies grappled over who would become second-in-command to Iger, the entertainment industry’s honorary captain.
Neither of those executives are still with Disney. And yet nearly a decade later, Iger is still in charge in his second tour as CEO, and the CFO role is once again throwing a wrench in Disney’s succession drama.
Christine McCarthy, who was named Disney’s CFO in 2015 following Rasulo’s resignation, said on June 15 that she would take a family medical leave of absence,...
- 6/19/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
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Earnings calls, those ritualized quarterly opportunities for public companies to convey the state of their financial affairs to Wall Street analysts and investors at large, are two-handed affairs for the Walt Disney Co.
Unlike other media companies, which stack their calls with three or more execs weighing in on various aspects of the business, Disney’s have featured only the CEO and the CFO for more than a decade. That focused approach has helped enlarge the profile of Christine McCarthy, who was promoted to CFO in 2015. The well-respected finance exec has articulated the strategy behind the company’s many strategic moves, including massive M&a bets, preparations for the launch of Disney+, dramatic adjustments during Covid and, most recently, sizable cost cuts and layoffs as well as the removal of streaming programming from Disney+ and Hulu.
In August, when Disney next reports earnings, the duo act will see its first change in many years,...
Unlike other media companies, which stack their calls with three or more execs weighing in on various aspects of the business, Disney’s have featured only the CEO and the CFO for more than a decade. That focused approach has helped enlarge the profile of Christine McCarthy, who was promoted to CFO in 2015. The well-respected finance exec has articulated the strategy behind the company’s many strategic moves, including massive M&a bets, preparations for the launch of Disney+, dramatic adjustments during Covid and, most recently, sizable cost cuts and layoffs as well as the removal of streaming programming from Disney+ and Hulu.
In August, when Disney next reports earnings, the duo act will see its first change in many years,...
- 6/16/2023
- by Dade Hayes
- Deadline Film + TV
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“Floyd,” an original action feature centered around a Latino veteran described as “John Wick” meets “The Big Lebowski,” is currently in development.
Erik Olsen is writing the script and will produce the project with Navid Mcllhargey. Story Kitchen, a media company focused on world-building and untapped intellectual property rights, is on board to produce the project with Exile Content Studio.
The Los Angeles-set story will follow a former marine given the nickname Floyd by his corps. Marine vet William Brownlee will serve as a co-producer and consultant.
“From apprenticing for Erik and Navid 16-plus years ago at Silver Pictures/Dark Castle to becoming their creative partner, ‘Floyd’ is a dream come true,” said Mike Goldberg, co-founder of Story Kitchen. He is joined in the venture by prolific screenwriter and partner Derek Kolstad, creator of the “John Wick” franchise, and Dmitri M. Johnson, the film and TV producer who secured adaptive...
Erik Olsen is writing the script and will produce the project with Navid Mcllhargey. Story Kitchen, a media company focused on world-building and untapped intellectual property rights, is on board to produce the project with Exile Content Studio.
The Los Angeles-set story will follow a former marine given the nickname Floyd by his corps. Marine vet William Brownlee will serve as a co-producer and consultant.
“From apprenticing for Erik and Navid 16-plus years ago at Silver Pictures/Dark Castle to becoming their creative partner, ‘Floyd’ is a dream come true,” said Mike Goldberg, co-founder of Story Kitchen. He is joined in the venture by prolific screenwriter and partner Derek Kolstad, creator of the “John Wick” franchise, and Dmitri M. Johnson, the film and TV producer who secured adaptive...
- 4/17/2023
- by Matt Donnelly
- Variety Film + TV
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Blippi, the blue-and-orange-clad character portrayed by Stevin John, is getting a new spinoff. Candle Media, which acquired Blippi owner Moonbug last year in a deal worth a reported 3 billion, has announced Meekah. The Netflix show will star the titular character, who first appeared on the Blippi YouTube channel last year.
Meekah is portrayed by Kaitlin Becker, who previously appeared on the Daytime Emmy-nominated programming block Sunny Side Up. Like Blippi, Meekah appeals to preschool-age children. Becker’s character helps those young viewers understand artistic and scientific concepts. In one of the most popular videos on the Meekah YouTube channel, the titular character meets a dinosaur during one of her adventures.
Since splitting off onto her own channel, Meekah has gained about 588,000 subscribers and pulled in more than 258 million lifetime views. Now, Moonbug and Candle Media will see if those numbers can translate onto a new platform. Blippi is already a hit on Netflix,...
Meekah is portrayed by Kaitlin Becker, who previously appeared on the Daytime Emmy-nominated programming block Sunny Side Up. Like Blippi, Meekah appeals to preschool-age children. Becker’s character helps those young viewers understand artistic and scientific concepts. In one of the most popular videos on the Meekah YouTube channel, the titular character meets a dinosaur during one of her adventures.
Since splitting off onto her own channel, Meekah has gained about 588,000 subscribers and pulled in more than 258 million lifetime views. Now, Moonbug and Candle Media will see if those numbers can translate onto a new platform. Blippi is already a hit on Netflix,...
- 11/29/2022
- by Sam Gutelle
- Tubefilter.com
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The bombshell news on Sunday that Bob Iger was returning to the Walt Disney Company as CEO and that his hand-picked successor Bob Chapek was out the door – immediately – followed a series of blunders but came down to a big miss on quarterly earnings reported earlier this month, according to multiple individuals with knowledge of the situation.
Disney, a former blue-chip stalwart, has seen its stock price plummet 41 since January. And Wall Street had been expecting post-covid streaming growth, theme park profit and projections for a better year to come during earnings on November 8. Instead, profits rose just 30 cents a share on revenue of 20.15 billion, rather than the expected 54 cents per share on revenues of 21.2 billion.
“After the last earnings call, I felt like the tide had turned against Chapek,” one insider said, observing that Chapek and other Disney executives on the earnings call acted as if it was a...
Disney, a former blue-chip stalwart, has seen its stock price plummet 41 since January. And Wall Street had been expecting post-covid streaming growth, theme park profit and projections for a better year to come during earnings on November 8. Instead, profits rose just 30 cents a share on revenue of 20.15 billion, rather than the expected 54 cents per share on revenues of 21.2 billion.
“After the last earnings call, I felt like the tide had turned against Chapek,” one insider said, observing that Chapek and other Disney executives on the earnings call acted as if it was a...
- 11/21/2022
- by Sharon Waxman and Drew Taylor
- The Wrap
![Image](https://m.media-amazon.com/images/M/MV5BZmUzYzlmZmUtMDU0YS00NzQ4LWI3NTAtY2NjYTExZDYwNTMyXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,0,500,281_.jpg)
After less than a year in retirement, Bob Iger has returned as the CEO of the Walt Disney Company.
The company’s board has sent out a notice that Bob I. is back and the recently re-upped Bob Chapek is out. “I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling,” Iger wrote tonight in an email to staffers.
Having handed over the baton as CEO in February 2020 to Chapek — a stunning move unto itself at the time — and then serving as executive chairman until the end of 2021, Iger will be CEO for a second time for the next two years, the company says. His mission will also include identifying a successor, something Iger had difficulty doing while commanding the troops the last time, postponing multiple plans to step down during his 15 years in the top job,...
The company’s board has sent out a notice that Bob I. is back and the recently re-upped Bob Chapek is out. “I am deeply honored to be asked to again lead this remarkable team, with a clear mission focused on creative excellence to inspire generations through unrivaled, bold storytelling,” Iger wrote tonight in an email to staffers.
Having handed over the baton as CEO in February 2020 to Chapek — a stunning move unto itself at the time — and then serving as executive chairman until the end of 2021, Iger will be CEO for a second time for the next two years, the company says. His mission will also include identifying a successor, something Iger had difficulty doing while commanding the troops the last time, postponing multiple plans to step down during his 15 years in the top job,...
- 11/21/2022
- by Dominic Patten and Dade Hayes
- Deadline Film + TV
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Moonbug Entertainment is set to expand its children’s empire on Netflix, betting that the Blippi universe has room for growth.
When Candle Media, the Blackstone-backed content rollup led by Kevin Mayer and Tom Staggs, acquired Moonbug Entertainment last year at a 3 billion valuation, much of the attention was on Cocomelon.
The animated preschool franchise is one of the most popular channel owners on YouTube, and its Netflix show is one of the most popular kids programs on the streaming platform. But Moonbug, under its new ownership, has also been seeking to expand, acquiring the Little Angel YouTube franchise earlier this year.
Now, it’s using one of its own brands, Blippi, as a jumping off point.
To that end, Netflix will launch the first spin-off show set in the world of Blippi starring Meekah, a character played by Kaitlin Becker who...
Moonbug Entertainment is set to expand its children’s empire on Netflix, betting that the Blippi universe has room for growth.
When Candle Media, the Blackstone-backed content rollup led by Kevin Mayer and Tom Staggs, acquired Moonbug Entertainment last year at a 3 billion valuation, much of the attention was on Cocomelon.
The animated preschool franchise is one of the most popular channel owners on YouTube, and its Netflix show is one of the most popular kids programs on the streaming platform. But Moonbug, under its new ownership, has also been seeking to expand, acquiring the Little Angel YouTube franchise earlier this year.
Now, it’s using one of its own brands, Blippi, as a jumping off point.
To that end, Netflix will launch the first spin-off show set in the world of Blippi starring Meekah, a character played by Kaitlin Becker who...
- 11/16/2022
- by Alex Weprin
- The Hollywood Reporter - Movie News
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![Image](https://m.media-amazon.com/images/M/MV5BNGYzMGFhMTQtNDBlNS00YjVkLTlkMmYtYzRkMzE5Y2VkNzFiXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX140_CR0,0,140,140_.jpg)
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Liberty Media Acquisition Corp., a special purpose acquisition company (Spac) launched by John Malone’s Liberty Media a couple of years ago in hopes of finding at least one takeover target, has taken a key step towards closing down the financial vehicle.
On Monday, a virtual special meeting of stockholders voted in favor of the move by approving updates to its certificate of incorporation, which allow it “to unwind and redeem all of its outstanding public shares prior to Dec. 30,” which is “in advance of the contractual termination date of Jan. 26, 2023.”
Liberty Media president and CEO Greg Maffei told the online meeting that his company — which owns the Atlanta Braves and the Formula One race car circuit among other media and entertainment assets — looked at around 140 companies in all as potential acquisitions, without identifying who they were. He added a picky Liberty Media...
Liberty Media Acquisition Corp., a special purpose acquisition company (Spac) launched by John Malone’s Liberty Media a couple of years ago in hopes of finding at least one takeover target, has taken a key step towards closing down the financial vehicle.
On Monday, a virtual special meeting of stockholders voted in favor of the move by approving updates to its certificate of incorporation, which allow it “to unwind and redeem all of its outstanding public shares prior to Dec. 30,” which is “in advance of the contractual termination date of Jan. 26, 2023.”
Liberty Media president and CEO Greg Maffei told the online meeting that his company — which owns the Atlanta Braves and the Formula One race car circuit among other media and entertainment assets — looked at around 140 companies in all as potential acquisitions, without identifying who they were. He added a picky Liberty Media...
- 11/14/2022
- by Georg Szalai and Etan Vlessing
- The Hollywood Reporter - Movie News
![Harvey Weinstein and Ryan Kavanaugh](https://m.media-amazon.com/images/M/MV5BMTAwMTkwNTQ2NTdeQTJeQWpwZ15BbWU2MDA0MzU5Nw@@._V1_QL75_UY207_CR5,0,140,207_.jpg)
![Harvey Weinstein and Ryan Kavanaugh](https://m.media-amazon.com/images/M/MV5BMTAwMTkwNTQ2NTdeQTJeQWpwZ15BbWU2MDA0MzU5Nw@@._V1_QL75_UY207_CR5,0,140,207_.jpg)
It’s hard to recognize the entertainment industry of 2022 from the business that it was 20 years ago – which was when I began covering Hollywood.
Back then, the DVD industry floated billions of dollars in free cash to the major studios. Tech companies were recovering from a burst bubble and geeky Silicon Valley was not yet cool. International box office had overtaken domestic box office by a lot – and this little video-by-mail distributor Netflix was five years old. We all stared at it with curiosity.
Fast-forward to now: Netflix rose and rose, and now it has stalled, even though everyone copied what it created. Streaming is the new model, but everyone is nervous that it won’t last — at least with as many players as have dived into the fray. Tech companies from Amazon to Apple have overtaken Hollywood, even as some of them are being overtaken by younger upstarts like TikTok.
Back then, the DVD industry floated billions of dollars in free cash to the major studios. Tech companies were recovering from a burst bubble and geeky Silicon Valley was not yet cool. International box office had overtaken domestic box office by a lot – and this little video-by-mail distributor Netflix was five years old. We all stared at it with curiosity.
Fast-forward to now: Netflix rose and rose, and now it has stalled, even though everyone copied what it created. Streaming is the new model, but everyone is nervous that it won’t last — at least with as many players as have dived into the fray. Tech companies from Amazon to Apple have overtaken Hollywood, even as some of them are being overtaken by younger upstarts like TikTok.
- 10/11/2022
- by Sharon Waxman
- The Wrap
![Image](https://m.media-amazon.com/images/M/MV5BM2FlM2Y3YWEtYjcyZS00YWUxLWFjNmEtNzEwZTM2MmQ3OTU4XkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX140_CR0,0,140,140_.jpg)
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Kevin Mayer shrugged off the “valuation haters” and offered insights into the big-ticket investment strategy behind his fast-growing entertainment startup Candle Media Wednesday during an appearance at the Apos media summit in Singapore.
“We did not overpay for Hello Sunshine,” Mayer said flatly, defending his company, which he co-heads with Tom Staggs, from one persistent criticism. Hello Sunshine, founded by Reese Witherspoon and bought by Candle Media last year for about 900 million, “will be a big winner,” Mayer insisted, while laying out how the acquisition fits into his company’s broader strategy. Candle Media’s vision, he noted, is the product of his experience at — or near — the top of both Disney and TikTok.
At Disney, Mayer’s last major assignment was oversite of the development and launch of Disney+, the company’s vertically integrated direct-to-consumer platform. As other major entertainment platforms followed...
Kevin Mayer shrugged off the “valuation haters” and offered insights into the big-ticket investment strategy behind his fast-growing entertainment startup Candle Media Wednesday during an appearance at the Apos media summit in Singapore.
“We did not overpay for Hello Sunshine,” Mayer said flatly, defending his company, which he co-heads with Tom Staggs, from one persistent criticism. Hello Sunshine, founded by Reese Witherspoon and bought by Candle Media last year for about 900 million, “will be a big winner,” Mayer insisted, while laying out how the acquisition fits into his company’s broader strategy. Candle Media’s vision, he noted, is the product of his experience at — or near — the top of both Disney and TikTok.
At Disney, Mayer’s last major assignment was oversite of the development and launch of Disney+, the company’s vertically integrated direct-to-consumer platform. As other major entertainment platforms followed...
- 9/28/2022
- by Patrick Brzeski
- The Hollywood Reporter - Movie News
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Latin-focused content powerhouse Exile Content Studio has snagged a majority stake in the Lil’ Heroes Nft Franchise which will soon spawn a toon series with NBA star Carmelo Anthony.
He will voice and exec produce the show through his company, Creative7 Productions.
The news comes in the wake of Exile’s acquisition in late May by Candle Media, the next generation media company founded by Kevin Mayer and Tom Staggs. Said Mayer and Staggs, who serve as co-CEOs: “We are excited to expand Exile’s partnership with Lil’ Heroes, a dynamic new franchise with a deeply engaged community, and a great example of how digitally-native IP can engage audiences through various platforms, products and experiences.”
Created by Spanish contemporary artist Edgar Plans, Lil’ Heroes was launched through an Nft collaboration with Exile and Nft studio, Curatible. By acquiring Curatible’s interest, Exile now holds a majority interest in the Lil...
He will voice and exec produce the show through his company, Creative7 Productions.
The news comes in the wake of Exile’s acquisition in late May by Candle Media, the next generation media company founded by Kevin Mayer and Tom Staggs. Said Mayer and Staggs, who serve as co-CEOs: “We are excited to expand Exile’s partnership with Lil’ Heroes, a dynamic new franchise with a deeply engaged community, and a great example of how digitally-native IP can engage audiences through various platforms, products and experiences.”
Created by Spanish contemporary artist Edgar Plans, Lil’ Heroes was launched through an Nft collaboration with Exile and Nft studio, Curatible. By acquiring Curatible’s interest, Exile now holds a majority interest in the Lil...
- 7/27/2022
- by Anna Marie de la Fuente
- Variety Film + TV
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The Chernin Group co-founder Peter Chernin is rolling up three content studios into one new mega-project, backed by 800 million in financing from two private equity firms.
Chernin is launching The North Road Company, a global multi-genre film and TV studio that will include ownership of Chernin Entertainment (Ford v Ferrari, New Girl); and Words + Pictures (The ESPYs), the venture launched by former ESPN executive Connor Schell, and which was backed by Chernin.
But North Road is also in the market for acquisitions, with the first being the U.S. assets of Red Arrow Studios (Love Is Blind, The Circus).
The purchase price for Red Arrow Studios’ U.S. assets was 180 million, according to a source familiar with the deal. Red Arrow had been owned by Germany’s ProSiebenSat.1 Group, which had been looking at potential deal opportunities since before the pandemic.
“I...
The Chernin Group co-founder Peter Chernin is rolling up three content studios into one new mega-project, backed by 800 million in financing from two private equity firms.
Chernin is launching The North Road Company, a global multi-genre film and TV studio that will include ownership of Chernin Entertainment (Ford v Ferrari, New Girl); and Words + Pictures (The ESPYs), the venture launched by former ESPN executive Connor Schell, and which was backed by Chernin.
But North Road is also in the market for acquisitions, with the first being the U.S. assets of Red Arrow Studios (Love Is Blind, The Circus).
The purchase price for Red Arrow Studios’ U.S. assets was 180 million, according to a source familiar with the deal. Red Arrow had been owned by Germany’s ProSiebenSat.1 Group, which had been looking at potential deal opportunities since before the pandemic.
“I...
- 7/6/2022
- by Alex Weprin
- The Hollywood Reporter - Movie News
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Media and telecom M&a activity was lively in the first half of 2022 with deals for the 12 months ending May 15 totaling 1,014, up 28 year-on-year, with a record total value 469 billion. The tally was inflated by Elon Musk’s high-profile 44 billion bid for Twitter and Microsoft’s planned 68 billion acquisition of Activision Blizzard. Neither deal has closed yet.
Music, sports and digital advertising deals are likely to continue brisk, according to PwC’s latest bi-annual Ma& survey, which is released each June and December. But deal activity has recently slowed among major media companies following a peak driven by content and technology acquisitions to fuel expansion of streaming services.
The first half saw Amazon’s purchase of MGM and the Warner Media-Discovery merger close within weeks of each other this spring, among a spate of deals focused on acquiring IP that can be monetized across platforms and geographies.
“I think expecting another record-setting...
Music, sports and digital advertising deals are likely to continue brisk, according to PwC’s latest bi-annual Ma& survey, which is released each June and December. But deal activity has recently slowed among major media companies following a peak driven by content and technology acquisitions to fuel expansion of streaming services.
The first half saw Amazon’s purchase of MGM and the Warner Media-Discovery merger close within weeks of each other this spring, among a spate of deals focused on acquiring IP that can be monetized across platforms and geographies.
“I think expecting another record-setting...
- 6/23/2022
- by Jill Goldsmith
- Deadline Film + TV
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One of the most powerful executives in media was meeting with a group of people the morning of June 9 when he heard the news that Disney CEO Bob Chapek had abruptly fired chairman of entertainment and programming Peter Rice.
“Chapek just made another massive mistake,” this exec announced. The market may have agreed: Disney stock fell nearly 4 percent as the news became public, a larger decline than the market as a whole Thursday.
Chapek’s decision to fire a long-standing and well-respected executive in the most unceremonious possible manner set off waves of bafflement and, for many, outrage — from the uppermost circles of Hollywood power to lower-echelon players. “There are very few things that stun me,” says another one of the industry’s most seasoned executives. “This stuns me.”
Several insiders tell The Hollywood Reporter that the firing was another in a string of Chapek missteps,...
One of the most powerful executives in media was meeting with a group of people the morning of June 9 when he heard the news that Disney CEO Bob Chapek had abruptly fired chairman of entertainment and programming Peter Rice.
“Chapek just made another massive mistake,” this exec announced. The market may have agreed: Disney stock fell nearly 4 percent as the news became public, a larger decline than the market as a whole Thursday.
Chapek’s decision to fire a long-standing and well-respected executive in the most unceremonious possible manner set off waves of bafflement and, for many, outrage — from the uppermost circles of Hollywood power to lower-echelon players. “There are very few things that stun me,” says another one of the industry’s most seasoned executives. “This stuns me.”
Several insiders tell The Hollywood Reporter that the firing was another in a string of Chapek missteps,...
- 6/10/2022
- by Kim Masters
- The Hollywood Reporter - Movie News
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Exclusive: Former Disney exec David Levine is exiting kids entertainment powerhouse Moonbug Entertainment, Deadline has learned. The well-liked exec has been Head of Studios since December 2020.
London- and LA-based Moonbug launched in 2018 and quickly made a name for itself after its Little Baby Bum series became a YouTube sensation, with Levine hired two years later to expand its brands. These also include YouTube and Netflix hit CoComelon and Blippi.
Moonbug confirmed his exit in a statement to Deadline: “We thank David for his dedication and hard work leading Moonbug Studios through a period of significant growth.”
According to a LinkedIn post, Levine is now exiting to “explore new areas” and was “looking forward to new adventures.”
Levine is best known for a 16-year spell at Disney as Vice President of Media Networks and Content in Europe and Africa, during which time he oversaw local children’s channels, commissioned and developed the Emmy-nominated Evermoor,...
London- and LA-based Moonbug launched in 2018 and quickly made a name for itself after its Little Baby Bum series became a YouTube sensation, with Levine hired two years later to expand its brands. These also include YouTube and Netflix hit CoComelon and Blippi.
Moonbug confirmed his exit in a statement to Deadline: “We thank David for his dedication and hard work leading Moonbug Studios through a period of significant growth.”
According to a LinkedIn post, Levine is now exiting to “explore new areas” and was “looking forward to new adventures.”
Levine is best known for a 16-year spell at Disney as Vice President of Media Networks and Content in Europe and Africa, during which time he oversaw local children’s channels, commissioned and developed the Emmy-nominated Evermoor,...
- 5/30/2022
- by Jesse Whittock
- Deadline Film + TV
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Kevin Mayer and Tom Staggs have been around the media business long enough to resist the temptation to overreact to Netflix’s latest travails. Even though their emerging investment firm, Candle Media, owns two key Netflix suppliers—CoComelon production company Moonbug Entertainment and Fauda producer Faraway Road—they don’t seem too concerned that Netflix may topple from its perch.
“We are still big believers in streaming overall, now and in the long run,” Mayer says. “The addressable market is enormous, and it continues to grow as consumers expect and demand the convenience that streaming provides.”
Comments from Netflix executives during the company’s recent quarterly report, which helped lower the company’s value from 300 billion to 100 billion, “highlight the battle for customer acquisition and retention,” Staggs says. Killer content is generally the answer to that challenge,...
“We are still big believers in streaming overall, now and in the long run,” Mayer says. “The addressable market is enormous, and it continues to grow as consumers expect and demand the convenience that streaming provides.”
Comments from Netflix executives during the company’s recent quarterly report, which helped lower the company’s value from 300 billion to 100 billion, “highlight the battle for customer acquisition and retention,” Staggs says. Killer content is generally the answer to that challenge,...
- 5/24/2022
- by Dade Hayes and Jill Goldsmith
- Deadline Film + TV
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Special purpose acquisition companies—known as SPACs—have been all the rage in the world of investment for the last two years, and they’ve made a mark in the media space, but is the trend slowing down?
Known as ‘blank check companies’, SPACs are publicly traded investment vehicles that raise capital solely to acquire existing companies. They are often fronted by a well-known figure and are seen as a simpler alternative to going public via an IPO. They can also provide everyman investors with an opportunity to tap into the high growth that some companies experience in their early years. At the same time, of course, a disappointing debut can register significant losses.
In some instances, SPACs will be announced with specific investment targets in mind, like when Virgin Galactic completed a successful Spac merger in 2019 and launched a trend of similar endeavours across the past two years. On other occasions,...
Known as ‘blank check companies’, SPACs are publicly traded investment vehicles that raise capital solely to acquire existing companies. They are often fronted by a well-known figure and are seen as a simpler alternative to going public via an IPO. They can also provide everyman investors with an opportunity to tap into the high growth that some companies experience in their early years. At the same time, of course, a disappointing debut can register significant losses.
In some instances, SPACs will be announced with specific investment targets in mind, like when Virgin Galactic completed a successful Spac merger in 2019 and launched a trend of similar endeavours across the past two years. On other occasions,...
- 5/24/2022
- by Tom Grater
- Deadline Film + TV
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A bright-red, child-size magical morphing creature is heading to Disney platforms.
Disney Branded Television inked a deal with Moonbug Entertainment for 52 episodes of 7-minute CG series, “Morphle,” based on the YouTube short-form hit My Magic Pet Morphle. It’s the first partnership between Disney and Moonbug, whose properties include the CoComelon kids’ content juggernaut.
The comedy adventure series is slated to debut in 2024 exclusively on Disney+ and Disney Junior globally, excluding China. Under the agreement, Disney will also launch episodes of “My Magic Pet Morphle” on its platforms.
Moonbug was acquired last year in a 3 billion deal by Candle Media, a next-generation media roll-up venture headed by former Disney execs Kevin Mayer and Tom Staggs and backed by private-equity firm Blackstone. Moonbug is headed by CEO René Rechtman, previously Disney’s international head of digital studios.
According to Andy Yeatman, Moonbug’s managing director of Americas and originals, talks with...
Disney Branded Television inked a deal with Moonbug Entertainment for 52 episodes of 7-minute CG series, “Morphle,” based on the YouTube short-form hit My Magic Pet Morphle. It’s the first partnership between Disney and Moonbug, whose properties include the CoComelon kids’ content juggernaut.
The comedy adventure series is slated to debut in 2024 exclusively on Disney+ and Disney Junior globally, excluding China. Under the agreement, Disney will also launch episodes of “My Magic Pet Morphle” on its platforms.
Moonbug was acquired last year in a 3 billion deal by Candle Media, a next-generation media roll-up venture headed by former Disney execs Kevin Mayer and Tom Staggs and backed by private-equity firm Blackstone. Moonbug is headed by CEO René Rechtman, previously Disney’s international head of digital studios.
According to Andy Yeatman, Moonbug’s managing director of Americas and originals, talks with...
- 5/18/2022
- by Todd Spangler
- Variety Film + TV
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Investors are going all-in on the metaverse.
That’s the prediction of Carlos Jimenez, managing director of Moelis & Co., who details his view that the entertainment business is in the midst of a massive transformation into a marketplace where entertainment, media, gaming, sports and other activities merge and often take place.
“All of these worlds are colliding — it’s the future,” Jimenez, a veteran dealmaker, says on the latest episode of Variety podcast “Strictly Business.” “You’re going to have all these Gen Zers, or whatever the next generation is called, playing an E-sports tournament in the metaverse while listening to a concert inside of it. I think that’s where we’re going to end up.”
It may sound futuristic but investment dollars are flowing in, Jimenez said. On the flip side, there’s also a surge in demand for entertainment-related infrastructure and support businesses — what he calls “picks...
That’s the prediction of Carlos Jimenez, managing director of Moelis & Co., who details his view that the entertainment business is in the midst of a massive transformation into a marketplace where entertainment, media, gaming, sports and other activities merge and often take place.
“All of these worlds are colliding — it’s the future,” Jimenez, a veteran dealmaker, says on the latest episode of Variety podcast “Strictly Business.” “You’re going to have all these Gen Zers, or whatever the next generation is called, playing an E-sports tournament in the metaverse while listening to a concert inside of it. I think that’s where we’re going to end up.”
It may sound futuristic but investment dollars are flowing in, Jimenez said. On the flip side, there’s also a surge in demand for entertainment-related infrastructure and support businesses — what he calls “picks...
- 4/21/2022
- by Cynthia Littleton
- Variety Film + TV
![Image](https://m.media-amazon.com/images/M/MV5BODI4OTBkYjUtYjVhNi00NjAzLWEzYTAtNzcxOWJhZDgyMGRkXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,0,500,281_.jpg)
Dazn chair Kevin Mayer and Rene Rechtman, co-founder and CEO of Moonbug Entertainment, will deliver a joint keynote at this year’s in-person MipTV (Apr. 4-6).
Mayer also serves as co-chair and co-ceo of Candle Media, which purchased Moonbug, the company behind the wildly popular children’s show “CoComelon” in Nov. 2021. Moonbug’s content appears in 30 languages and on more than 100 platforms.
The keynote, which will take place on the opening day of the market in the Palais des Festivals, will cover strategy and future plans of the companies along with insights and takes on wider industry trends.
Founded by ex-Disney executives Mayer and Tom Staggs, with backing from private equity firm Blackstone, Candle’s acquisition of Moonbug followed that of Hello Sunshine, the media company founded by Reese Witherspoon (“The Morning Show”) in August last year. Cancle recently completed the acquisition of Israeli production company Faraway Road Productions (“Fauda...
Mayer also serves as co-chair and co-ceo of Candle Media, which purchased Moonbug, the company behind the wildly popular children’s show “CoComelon” in Nov. 2021. Moonbug’s content appears in 30 languages and on more than 100 platforms.
The keynote, which will take place on the opening day of the market in the Palais des Festivals, will cover strategy and future plans of the companies along with insights and takes on wider industry trends.
Founded by ex-Disney executives Mayer and Tom Staggs, with backing from private equity firm Blackstone, Candle’s acquisition of Moonbug followed that of Hello Sunshine, the media company founded by Reese Witherspoon (“The Morning Show”) in August last year. Cancle recently completed the acquisition of Israeli production company Faraway Road Productions (“Fauda...
- 2/1/2022
- by Naman Ramachandran
- Variety Film + TV
![Javier Bardem, Josh Brolin, Rebecca Ferguson, Jason Momoa, Sharon Duncan-Brewster, Oscar Isaac, Timothée Chalamet, and Zendaya in Dune (2021)](https://m.media-amazon.com/images/M/MV5BMDQ0NjgyN2YtNWViNS00YjA3LTkxNDktYzFkZTExZGMxZDkxXkEyXkFqcGdeQXVyODE5NzE3OTE@._V1_QL75_UY207_CR0,0,140,207_.jpg)
![Javier Bardem, Josh Brolin, Rebecca Ferguson, Jason Momoa, Sharon Duncan-Brewster, Oscar Isaac, Timothée Chalamet, and Zendaya in Dune (2021)](https://m.media-amazon.com/images/M/MV5BMDQ0NjgyN2YtNWViNS00YjA3LTkxNDktYzFkZTExZGMxZDkxXkEyXkFqcGdeQXVyODE5NzE3OTE@._V1_QL75_UY207_CR0,0,140,207_.jpg)
Legendary Entertainment, the studio behind “Dune,” is selling a $760 million equity stake to the investment company Apollo, the companies announced Monday.
The minority investment comes as Legendary concluded its most profitable year to-date in 2021 on the backs of “Dune” and “Godzilla vs. Kong.”
The deal will allow Legendary to regain operational and creative control from the China-based company Dailan Wanda.
“Legendary is known for its world-class content and franchise features and has strong relationships with top studios and streaming platforms alike,” Apollo Private Equity Partners Aaron Sobel and Lee Solomon said in a statement. “In making this fund investment, we were excited by the velocity in their television and film business, the strong management team and the massive secular tailwinds driving the industry. Already, Legendary generates significant free cash flow that’s reinvested in high-growth categories, and we also see compelling M&a opportunities ahead. We view Legendary as a...
The minority investment comes as Legendary concluded its most profitable year to-date in 2021 on the backs of “Dune” and “Godzilla vs. Kong.”
The deal will allow Legendary to regain operational and creative control from the China-based company Dailan Wanda.
“Legendary is known for its world-class content and franchise features and has strong relationships with top studios and streaming platforms alike,” Apollo Private Equity Partners Aaron Sobel and Lee Solomon said in a statement. “In making this fund investment, we were excited by the velocity in their television and film business, the strong management team and the massive secular tailwinds driving the industry. Already, Legendary generates significant free cash flow that’s reinvested in high-growth categories, and we also see compelling M&a opportunities ahead. We view Legendary as a...
- 1/31/2022
- by Brian Welk
- The Wrap
![Image](https://m.media-amazon.com/images/M/MV5BMmJkYTk1MTgtNTdjNi00N2M5LWE4YjAtMGM0NWVmY2QxMDhmXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,0,500,281_.jpg)
Netflix has pumped billions of dollars into original programming — but overall, its library of older licensed TV shows far outperforms homegrown hits like “Squid Game” or “Bridgerton.”
In 2021 on Netflix, “Criminal Minds,” the crime-drama procedural that aired on CBS from 2005-20, scored as the most-viewed TV show among U.S. streaming platforms tracked by Nielsen.
The 12 seasons of “Criminal Minds” available on Netflix registered an estimated 33.9 billion minutes watched last year by American viewers, per Nielsen. The show’s cast over the years included Mandy Patinkin, Thomas Gibson, Paget Brewster, Joe Mantegna, Jeanne Tripplehorn, Jennifer Love Hewitt and Aisha Tyler.
The massive watch-time for “Criminal Minds” on Netflix is all the more impressive given that it’s nonexclusive: All 15 seasons of the show are on Paramount Plus (for which Nielsen does not report viewing) and seasons 13-15 are available on Hulu.
In second place overall in TV shows was “CoComelon,...
In 2021 on Netflix, “Criminal Minds,” the crime-drama procedural that aired on CBS from 2005-20, scored as the most-viewed TV show among U.S. streaming platforms tracked by Nielsen.
The 12 seasons of “Criminal Minds” available on Netflix registered an estimated 33.9 billion minutes watched last year by American viewers, per Nielsen. The show’s cast over the years included Mandy Patinkin, Thomas Gibson, Paget Brewster, Joe Mantegna, Jeanne Tripplehorn, Jennifer Love Hewitt and Aisha Tyler.
The massive watch-time for “Criminal Minds” on Netflix is all the more impressive given that it’s nonexclusive: All 15 seasons of the show are on Paramount Plus (for which Nielsen does not report viewing) and seasons 13-15 are available on Hulu.
In second place overall in TV shows was “CoComelon,...
- 1/21/2022
- by Todd Spangler
- Variety Film + TV
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Imagine Entertainment is in negotiations to sell a majority stake in the production banner headed by Ron Howard and Brian Grazer to London-based investment firm Centricus Asset Management Ltd.
The talks were first reported by the The Wall Street Journal. The negotiations are accelerating but a source close to the situation cautions there’s still no certainty that a deal will come to fruition. The discussions under way with Centricus are said to value Imagine Entertainment, one of Hollywood’s largest independent content producers, at about $600 million to $700 million. The company has been in the hunt for a capital infusion through an equity sale for some months.
Centricus has $35 billion in assets under management and is known for investing in financial services, technology, infrastructure, media and sports businesses. The company was co-founded in 2016 by Nizar Al-Bassam and Dalinc Ariburnu. Josh Purvis serves as CEO and COO.
Imagine Entertainment declined to comment.
The talks were first reported by the The Wall Street Journal. The negotiations are accelerating but a source close to the situation cautions there’s still no certainty that a deal will come to fruition. The discussions under way with Centricus are said to value Imagine Entertainment, one of Hollywood’s largest independent content producers, at about $600 million to $700 million. The company has been in the hunt for a capital infusion through an equity sale for some months.
Centricus has $35 billion in assets under management and is known for investing in financial services, technology, infrastructure, media and sports businesses. The company was co-founded in 2016 by Nizar Al-Bassam and Dalinc Ariburnu. Josh Purvis serves as CEO and COO.
Imagine Entertainment declined to comment.
- 1/15/2022
- by Jennifer Maas and Cynthia Littleton
- Variety Film + TV
![Image](https://m.media-amazon.com/images/M/MV5BZTY1MWRlMzktYmM0NC00NGQzLTgwNmQtYTkyOTk2ZTU2NDllXkEyXkFqcGdeQXVyMTE0MzQwMjgz._V1_QL75_UX500_CR0,7,500,281_.jpg)
Candle Media, the venture-backed entertainment startup founded by ex-Disney execs Kevin Mayer and Tom Staggs, is building an impressive executive team.
The company has onboarded longtime UTA partner Brent Weinstein and former FoxNext Games president Salil Mehta in the roles of chief development officer and chief financial officer, respectively.
Beginning Feb. 1, Weinstein will oversee new business development with an emphasis on social media, creator economy, ecommerce, and Web3 opportunities, Candle says. Mehta, who joined on Jan. 3, will charge financial operations. Both will report to Mayer and Staggs, who serve as Candle’s co-CEOs.
“They will be instrumental in facilitating growth across our portfolio of companies,” Stags and Mayer said in a statement, “and helping us identify new investment and business development opportunities.”
Visit Tubefilter for more great stories.
The company has onboarded longtime UTA partner Brent Weinstein and former FoxNext Games president Salil Mehta in the roles of chief development officer and chief financial officer, respectively.
Beginning Feb. 1, Weinstein will oversee new business development with an emphasis on social media, creator economy, ecommerce, and Web3 opportunities, Candle says. Mehta, who joined on Jan. 3, will charge financial operations. Both will report to Mayer and Staggs, who serve as Candle’s co-CEOs.
“They will be instrumental in facilitating growth across our portfolio of companies,” Stags and Mayer said in a statement, “and helping us identify new investment and business development opportunities.”
Visit Tubefilter for more great stories.
- 1/13/2022
- by Geoff Weiss
- Tubefilter.com
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