ITV

Tag: Gary Barber

  • MGM buys out Mark Burnett, names him as president of TV & Digital

    MGM buys out Mark Burnett, names him as president of TV & Digital

    MUMBAI: Metro-Goldwyn-Mayer Inc. (MGM) is acquiring full control of United Artists Media Group (UAMG), in which reality TV producer Mark Burnett owned a 23 per cent interest with his wife Roma Downey.

     

    Additionally, Burnett has been named president of MGM Television and Digital Group.

     

    Burnett, who signed a five-year contract, will report directly to MGM CEO Gary Barber. Burnett’s new appointment will occur simultaneously with the closing of MGM’s acquisition of the remaining 45 per cent of Hearst’s, Burnett’s and Downey’s interests in UAMG, which will be absorbed under the MGM Television Group umbrella.

     

    “Mark Burnett is one of the most successful producers in television and a highly sought-after executive in content creation. His leadership is the next step in our never-ending quest to expand and grow our television and digital businesses,” said Barber. “Combining all of our TV content efforts under the purview of this unparalleled chief is incredibly exciting. Additionally, we believe this synergistic transaction will be very accretive to MGM.”

     

    Burnett and Downey will exchange their 23 per cent interest in UAMG for 1,337,360 shares of MGM stock valued at $90 per share. Hearst will receive $113.5 million in cash for their 22 per cent interest. This transaction will enable the complete integration of UAMG’s and MGM’s television businesses and the consolidation of their operations. The transaction is expected to close at the beginning of 2016 and was valued based upon the original deal parameters established when MGM acquired the initial 55 per cent of UAMG in 2014, less distributions.  The planned OTT channel will remain a separate entity controlled by its investors, Downey, Burnett, Hearst and MGM.

     

    “Joining MGM under the incredible leadership of Gary Barber is an exciting new chapter of my television career,” said Burnett. “Demand for quality content is stronger than ever and the opportunities to grow our pipeline and develop projects from the wealth of Intellectual Property in the MGM and United Artists libraries are enormous. There is no better time to be creating premium content for distribution across multiple platforms. “

     

    Downey added, “We have entered into an era where faith-based and family programming is experiencing a creative renaissance. I am so excited and grateful to head up the team at LightWorkers Media under MGM. This is an enthusiastic marketplace that inspires us every day to create and curate new, thoughtful and dynamic content for all screens in the distribution landscape.”

     

    In 2016, MGM Television will now have numerous unscripted and scripted television shows airing on network and cable or in production including: The Voice (NBC); Survivor (CBS); Shark Tank (ABC); Beyond the Tank (ABC); Celebrity Apprentice (NBC);Fargo (FX); Vikings (History); Teen Wolf (MTV);  500 Questions (ABC); The People’s Choice Awards (CBS); Lucha Underground (El Rey Network) and America’s Greatest Makers (INTEL/Turner).

     

    As part of the new structure, Downey will serve as president of LightWorkers Media, which will be the faith and family division of MGM Television, and will report to Burnett.  Downey will also serve as the chief content officer for the planned OTT channel. 

     

    Additionally, Chris Ottinger has been promoted to president of worldwide television distribution & acquisitions for MGM, reporting directly to Barber. MGM president of television development & production Steve Stark will continue to oversee all scripted content and will report directly to Burnett in an expanded role.

     

    MGM president of domestic television distribution John Bryan will continue in his role overseeing domestic distribution. Roma Khanna has stepped down from her position as head of television and digital. “Roma has done a terrific job at MGM. We are thankful for her efforts in helping grow MGM and wish her much success in her future endeavours,” said Barber.

  • ‘The Hobbit: The Desolation of Smaug’ climbs to more than $800 million worldwide

    ‘The Hobbit: The Desolation of Smaug’ climbs to more than $800 million worldwide

    BURBANK: The Hobbit: The Desolation of Smaug has crossed $800 million at the worldwide box office, with markets still to open. The film, a production of New Line Cinema and Metro-Goldwyn-Mayer Pictures (MGM), has thus far grossed an estimated $242.2 million domestically and $566 million internationally, for a worldwide estimated total of $808.2 million to date.

     

    The joint announcement was made today by Gary Barber, Chairman and Chief Executive Officer, Metro-Goldwyn-Mayer Studios; Toby Emmerich, President and Chief Operating Officer, New Line Cinema; Sue Kroll, President of Worldwide Marketing and International Distribution, Warner Bros. Pictures; Dan Fellman, President of Domestic Distribution, Warner Bros. Pictures; and Veronika Kwan Vandenberg, President of International Distribution, Warner Bros. Pictures.

     

    “The Hobbit: The Desolation of Smaug” is the second film in Oscar®-winning filmmaker Peter Jackson’s epic “The Hobbit” Trilogy, based on the timeless novel by J.R.R. Tolkien. The first film, “The Hobbit: An Unexpected Journey,” was released on December 14, 2012, and went on to become a billion dollar success at the worldwide box office. Now in its fourth week in release, the film remains in the top five in the U.S. and continues to ranked #1 internationally across 62 territories, with China releasing February 21, followed by Japan on February 28.

     

    In making the announcement, Fellman said, “Peter Jackson has once again proven to be the perfect guide for an adventure through Middle-earth. As ‘The Hobbit: The Desolation of Smaug’ continues to delight audiences in the New Year, we congratulate him and everyone involved in the film on another box office milestone.”

     

    Kwan Vandenberg added, “This is a film that has resonated with moviegoers around the globe in a big way. We look forward to bringing ‘Smaug’ to China and Japan in February.”

     

    From Academy Award®-winning filmmaker Peter Jackson comes “The Hobbit: The Desolation of Smaug,” the second in a trilogy of films adapting the enduringly popular masterpiece The Hobbit, by J.R.R. Tolkien.

     

    Ian McKellen returns as Gandalf the Grey, with Martin Freeman in the central role of Bilbo Baggins, and Richard Armitage as Thorin Oakenshield. The international ensemble cast is led by Benedict Cumberbatch, Evangeline Lilly, Lee Pace, Luke Evans, Stephen Fry, Ken Stott, James Nesbitt, and Orlando Bloom as Legolas. The film also stars Mikael Persbrandt, Sylvester McCoy, Aidan Turner, Dean O’Gorman, Graham McTavish, Adam Brown, Peter Hambleton, John Callen, Mark Hadlow, Jed Brophy, William Kircher, Stephen Hunter, Ryan Gage, John Bell, Manu Bennett and Lawrence Makoare.

     

    The screenplay for “The Hobbit: The Desolation of Smaug” is by Fran Walsh & Philippa Boyens & Peter Jackson & Guillermo del Toro based on the novel by J.R.R. Tolkien. Jackson also produced the film, together with Carolynne Cunningham, Zane Weiner and Fran Walsh. The executive producers are Alan Horn, Toby Emmerich, Ken Kamins and Carolyn Blackwood, with Philippa Boyens and Eileen Moran serving as co-producers.

     

    New Line Cinema and Metro-Goldwyn-Mayer Pictures Present a WingNut Films Production, “The Hobbit: The Desolation of Smaug.” The film is a production of New Line Cinema and Metro-Goldwyn-Mayer Pictures (MGM), with New Line managing production. Warner Bros. Pictures is handling worldwide theatrical distribution, with select international territories as well as all international television distribution being handled by MGM.

  • Sam Mendes returns to direct Bond 24, Daniel Craig returns as british spy

    Sam Mendes returns to direct Bond 24, Daniel Craig returns as british spy

    NEW DELHI: Daniel Craig will once again return as the legendary British secret agent in the 24th James Bond film and Sam Mendes will also return to direct the screenplay written by John Logan.

    Producers Michael G. Wilson and Barbara Broccoli, EON Productions; Gary Barber, Chairman & CEO, Metro-Goldwyn-Mayer; Michael Lynton, CEO, Sony Entertainment and Amy Pascal, co-chairman of Sony Pictures Entertainment, announced in Culver City in California that the film is set for release in UK theaters on 23 October 2015 and in US theaters on 6 November that year.

    Skyfall, the 23rd James Bond film, took in $1.1 billion worldwide and set a new mark as the highest-grossing film of all time in the UK; it was the best-selling Bond film on DVD/Blu-ray and was the most critically acclaimed film in the history of the longest-running film franchise.

    Commenting on the announcement, Wilson and Broccoli said, “Following the extraordinary success of Skyfall, we‘re really excited to be working once again with Daniel Craig, Sam Mendes and John Logan.”

    “I am very pleased that by giving me the time I need to honour all my theatre commitments, the producers have made it possible for me to direct Bond 24. I very much look forward to taking up the reins again, and to working with Daniel Craig, Michael G. Wilson and Barbara Broccoli for a second time,” said Mendes.

    Barber added, “We are thrilled to reunite the extraordinary talents of director Sam Mendes with our star Daniel Craig for the next great Bond adventure.” He added, “As evidenced by the phenomenal success of our last collaboration with EON Productions and Sony, the incredible legacy of this 51-year-old franchise continues to amaze.”

    Lynton and Pascal said, “It‘s a privilege to work on the Bond films. EON, John Logan and Sam Mendes have come up with an extraordinary follow up to Skyfall and we, along with our partners at MGM, can‘t wait to share this new chapter with audiences all over the world.”

  • Next Bond film to come within three years

    Next Bond film to come within three years

    MUMBAI: MGM Studios has said that it expects to release the next James Bond film within three years. It also hopes to announce a new director who would replace Sam Mendes soon.

    MGM Chairman and CEO Gary Barber stated that the studio was developing the screenplay for the 24th film in the James Bond series in the 50-year-old franchise about the British secret agent. "We are very excited about the franchise, we look forward to announcing a director soon," Barber has been quoted to have said.
     
    "We are currently developing the screenplay and working with our partners. We look forward to developing the script soon and signing a director. We are hoping within the next 3 years it will be released," he added.

    Though he gave no details on the casting of the film, Daniel Craig has already signed on for two more films in the lead role as the suave 007 agent.

    Skyfall that starred Craig has made $1.1 billion at the global box office and impressed critics.

  • MGM closes $500 mn revolving loan

    MGM closes $500 mn revolving loan

    MUMBAI: Ending its bankruptcy, Metro-Goldwyn Mayer (MGM) has closed a $500 million revolving credit facility.

    The revolving credit facility replaces a term loan and a smaller revolving facility the studio received as part of a pre-packaged bankruptcy in which its lenders exchanged $4 billion in outstanding debt for equity valued at about $2 billion.

    Announcing the Studio’s endeavour, MGM co-CEO and co-chairmen Gary Barber and Roger Birnbaum said, “A year ago MGM was in bankruptcy and to receive this oversubscribed facility just one year later is proof positive that through careful and efficient business decisions, we have earned the faith of the financial community.”

    The credit facility will be used to pay up debts and also to develop the film and TV businesses that will include films being made under a partnership with Sony Pictures Entertainment including 21 Jump Steet, the next James Bond movie Skyfall, The Hobbit: An Unexpected Journey and The Hobbit: There and Back Again (in partnership with Warrner Bros.) and GI Joe: Retaliation (with Paramount Pictures).

    Other films in development include remakes of Robocop, Carrie, Poltergiest and Teen Wolf, along with Punk Farm and Vikings.

    The restructuring of MGM was a long process that began in May 2009 when Moelis & Co, an investment bank, was hired to advice management. In August the same year, Stephen Cooper replaced CEO Harry Sloan who was said to be a turnaround expert.

    MGM was having problems meeting $300 million in annual interest payments. Moelis & Co. had to work out the bankruptcy with more than 140 creditors. The closing of the deal will trigger a payment of over $9 million to Moelis.

    The new loan was led by JP Morgan Chase, which reportedly put up $75 million of the new credit facility. The rest came from Deutsche Bank, Bank of America Merrill Lynch, Royal Bank of Canada, SunTrust Bank, Wells Fargo, CIT Bank, Union Bank, City National Bank and OneWest Bank.

  • MGM names Stratton as CFO

    MGM names Stratton as CFO

    MUMBAI: MGM has named Dene B. Stratton as its chief financial officer according to the studio‘s co-chairmen and CEOs Gary Barber and Roger Birnbaum. Stratton, who spent nearly two decades at the Walt Disney Co., was the CFO of the Internet start-up TRC Media Limited.

    In his tenure at Disney, he rose to the position of CFO, Jetix Europe. He also held such positions as senior vp, planning and control for ABC; senior vp and general manager for DIC Entertainment; senior vp, business development for Walt Disney Television International in Asia Pacific; and vp, finance, European controller, Walt Disney Studios Europe.

    Before joining Disney in 1990, Stratton was as business unit controller for Calcomp.

    “Dene has the solid foundation and the precise experience we were hoping to find in our new CFO. We are enthused by what we know he will bring to the table and look forward to a prosperous future together,” Barber and Birnbaum said.