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Tag: Mayer

  • Mayer, Yudkovitz to head Disney’s corporate strategy group

    MUMBAI: US media conglomerate The Walt Disney Company has tapped Kevin Mayer and former TiVo president Marty Yudkovitz for its new corporate strategy, business development and technology group.

    Mayer will head the division as its executive VP. He will report to Disney senior executive VP and CFO Tom Staggs.

    He was most recently partner and head of the Global Media and Entertainment practice at L.E.K. Consulting. Before that he was chairman and CEO of Clear Channel Interactive and president and CEO of Playboy.com. He is also a former Disney executive, having worked at the Walt Disney Internet Group.

    Yudkovitz joins the division as senior VP, reporting to Mayer. He will take a lead role in identifying and executing new business opportunities. He was most recently Tivo president. Earlier he was at NBC in a variety of senior management roles, including NBC Digital Media president.

    The group will target emerging businesses new to Disney’s existing portfolio, manage cross-divisional issues and opportunities, and evaluate new technology and business models. The group will also be responsible for aiding in the evaluation of potential acquisition transactions. Staggs said, “The corporate strategy, business development and technology group will play a pivotal role in detecting and analysing key trends impacting our markets. The group will also evaluate high potential new business opportunities that leverage and extend our competitive position”.

  • MGM Channel launches in Thailand on UBC

    MGM Channel launches in Thailand on UBC

    MUMBAI: Further accelerating its presence throughout Asia, MGM Networks, a unit of Metro-Goldwyn-Mayer Inc. has launched the MGM Channel to subscribers in Thailand via UBC.

    “In just over a year, we have seen tremendous growth throughout Asia. The MGM Channel has quickly achieved the status of ‘must-have’ channel for cable and satellite operators throughout the region. Through UBC, we will bring the MGM Channel directly to consumers across this key and growing market. We anticipate a very warm reception from Thai viewers,” said MGM Networks executive vice president Bruce Tuchman.

    The MGM Channel became available this month as part of UBC’s Silver and Platinum Packages. MGM and UBC also plan to introduce Thai subtitling to the channel in the near future.

    “This is a superb opportunity for UBC to add value to its silver and platinum packages with MGM Channel Asia’s content of well-loved films. For us, this deal signifies a positive move towards the South East Asia and Greater China markets,” said CNBC Asia Pacific president & CEO Alexander Brown.

    The agreement with UBC is the most recent in a lengthy series of distribution deals forged by MGM Networks across Asia over the past year. Among other Asian operations, MGM Networks has a strategic alliance in the Greater China and South East Asia market with CNBC Asia Pacific, which assists MGM in the operation and distribution of a dedicated MGM channel in the region. The UBC deal will be part of this regional alliance. It follows announcements of the MGM Channel’s launch in Hong Kong, Indonesia, Macau, Singapore, Taiwan and Malaysia.

    “UBC is committed to providing the best-quality programs to widen knowledge of the world and bring entertainment variety to our customers,” said UBC director marketing and sales Ongard Prapakamol.” The MGM Channel is an outstanding addition to our new package offerings. We are confident that Thai viewers will be entertained by the variety of movies available on the MGM Channel.”

    Separately, MGM Networks holds interests in MGM-branded and other channels reaching scores of countries and territories worldwide. In the Asia-Pacific region, these interests include two branded channels in Korea and one in New Zealand.

    In addition, branded MGM Channels reach millions of subscribers across Europe, Latin America and Africa. Among MGM Networks’ latest channel launches are The MGM Channel in Spain, which premiered in summer 2004, and a Russian-language version of the MGM Channel that debuted in Russia last fall.

  • MGM Channel launches in Indonesia

    MGM Channel launches in Indonesia

    MUMBAI: MGM Networks, a unit of Metro-Goldwyn-Mayer has signed a distribution agreement covering an MGM-branded, movie-driven network in Indonesia.
     
     
    Under the agreement, the MGM Channel is being delivered to subscribers via the basic tier of Indonesia’s Pay-TV operator, Kabelvision (PT Broadband Multimedia Tbk). In India, MGM has a 50:50 JV with Zee for the English movie channel Zee MGM. The Kabelvision deal follows several other recent agreements by MGM Networks in Asia. These include a strategic alliance with CNBC Asia Pacific to produce and distribute the MGM Channel in the Greater China market and Southeast Asia. In addition, the channel also launched on PCCW’s Now Broadband TV platform in Hong Kong.

    Separately, MGM launched its second MGM-branded channel in South Korea earlier this year. In October, the MGM Channel also launched on systems in Switzerland, Liechtenstein and Iceland, which brings to a dozen the European countries where it can be seen.

    The Kabelvision agreement is the latest step in MGM Networks’ global expansion, which over the last two years has increased its channel interests fourfold to more than 100 countries on six continents.

  • MGM 4QFY02 net income rises to $59m

    MGM 4QFY02 net income rises to $59m

    CALIFORNIA: Metro-Goldwyn-Mayer has announced net income of $58.7 million, or $.24 per share, for the quarter ending 31 December 2002. In the fourth quarter of 2001, the company reported net income of $39.1 million, or $.16 per share. Revenues in the 4QFY02 quarter increased approximately 65 per cent to $620.9 million from $375.5 million in the fourth quarter of 2001. EBITDA was $46.8 million compared to $64.0 million in the prior year period.

    The fourth quarter of 2002 results included a net gain of $32.5 million, or $0.13 per share, from the sale of the company’s 20 percent equity interest in the Bravo cable television network to NBC.

    Chairman and CEO MGM Networks Alex Yemenidjian said, “MGM begins 2003 in excellent financial condition. As a result of several recent initiatives, 2003 will be the start of significant cash flow generation for the Company, at a time when our balance sheet is stronger and more deleveraged than ever.”

    Operating highlights include:

    – MGM Networks announced a new MGM branded international channel in the Netherlands, increasing its penetration to almost 100 countries.

    – The MGM Home Entertainment group’s combined worldwide DVD and VHS shipments crossed the 100 million unit mark for the first time for 2002.

    – For 2002, worldwide DVD shipments increased 79 per cent.

    – Worldwide DVD shipments increased 112 per cent in the fourth quarter.

    – MGM extended its international distribution agreement with NBC for four additional years through the 2007 to 2008 television season.

    For full year 2003, based on current estimates, net cash provided by operating activities is expected to be in the range of $100 to $150 million. The company also expects revenues to increase in a range of 3 percent to 5 per cent to over $1.7 billion. Earnings per share are expected to be a loss in the range of $.28 to $.38.