Exclusive, updated with statement from Sony: Several companies are circling to either buy out Lone Star’s profit participation in Sony films for like 70 cents on the dollar or step in to buy “the library,” as its being referred to, and also fund Sony films. The LStar film financing deal is all but dead as the deadline expiration comes at midnight tonight. While we hear that Fti and Salem are working on valuations, Content Partners, Vine, Shamrock and Qualia (Amir Malin’s…...
- 7/17/2017
- Deadline
MGM co-chairs and CEOs Gary Barber and Roger Birnbaum have named Ken Schapiro to the post of chief operating officer. The co-founder and a managing principal of eight-year-old investment management firm Qualia Capital LLC, Schapiro will report to Barber and Birnbaum, who cited Schapiro's "background, experience and proven track record," as well his "skills and energy" as integral to building the new MGM. Qualia made an aggressive bid to invest in the ailing studio; Schapiro is well-versed with MGM's financials. Schapiro stated: “While it is difficult to leave the business I co-founded with my partner Amir Malin, returning to an operating role to work with Gary and Roger at the new MGM from this early stage is too exciting a challenge to pass up/” Before ...
- 2/15/2011
- Thompson on Hollywood
Hollywood veteran Ken Schapiro MGM's new COO, the company announced Monday. Schapiro is the co-founder and managing principal of Qualia Capital LLC, a private investment management firm that focuses on the entertainment industry. At Qualia, Schapiro and his partner Amir Malin most recenlty have been buying up a large catalogue of older films and TV shows and controlling their licensing. Prior to that, they bought up money-losing Artisan Films in 1998, where Schapiro was president and COO, selling it for $160 million five years later. Before starting Qualia, Schapiro was executive vice president...
- 2/14/2011
- by Joshua L. Weinstein
- The Wrap
Los Angeles, CA, February 14, 2011- MGM has appointed Ken Schapiro to the post of Chief Operating Officer, it was announced today by Co-Chairmen and Chief Executive Officers Gary Barber and Roger Birnbaum. Schapiro is the co-founder and a managing principal of Qualia Capital LLC, a private investment management company focused on the media and entertainment industries with an emphasis on intellectual property asset portfolios. His MGM appointment is effective immediately and he will report to Barber and Birnbaum. "Ken’s background, experience and proven track record make him an undeniable asset to MGM. We believe his skills and energy will be integral in helping us build the new MGM," said Barber and Birnbaum. “While it is difficult to leave the business I co-founded with my partner Amir Malin, returning to an operating role to work with Gary and Roger at the new MGM from this early stage is too exciting a challenge to pass up,...
- 2/14/2011
- by MIKE FLEMING
- Deadline
Los Angeles, California (X17online) - MGM has appointed Ken Schapiro, former COO of Artisan Entertainment, as Chief Operating Officer of the studio. Schapiro, who is co-founder and managing principal of Qualia Capital LLC, will report to Chief Executive Officers Roger Birnbaum and Gary Barber. Barber and Birnbaum said the following about Schapiro's new position: "Ken’s background, experience and proven track record make him an undeniable asset to MGM. We believe his skills and energy will be integral in helping us build the new MGM." Schapiro released the following statement: "While it is difficult to leave the business I co-founded with my partner Amir Malin, returning to an operating role to work with Gary and Roger at the new MGM from this early stage is too exciting a challenge to pass up." MGM's new honcho, and his former partner Amir Malin, helped Artison create a library of over 6,000 titles.
- 2/14/2011
- x17online.com
Ken Schapiro has been appointed chief operating officer of MGM, effective immediately, Co-Chairmen and Chief Executive Officers Gary Barber and Roger Birnbaum announced Monday.
"Ken’s background, experience and proven track record make him an undeniable asset to MGM. We believe his skills and energy will be integral in helping us build the new MGM," said Barber and Birnbaum in a joint statement.
“While it is difficult to leave the business I co-founded with my partner Amir Malin, returning to an operating role to work with Gary and Roger at the new MGM from this early stage is too exciting a challenge to pass up,” said Schapiro.
Schapiro is the co-founder and a managing principal of Qualia Capital LLC. Before co-founding that company in 2003, he was President and Chief Operating Officer of Artisan Entertainment.
Read the full release after the jump. [pagebreak]
Los Angeles, CA, February 14, 2011- MGM has appointed Ken...
"Ken’s background, experience and proven track record make him an undeniable asset to MGM. We believe his skills and energy will be integral in helping us build the new MGM," said Barber and Birnbaum in a joint statement.
“While it is difficult to leave the business I co-founded with my partner Amir Malin, returning to an operating role to work with Gary and Roger at the new MGM from this early stage is too exciting a challenge to pass up,” said Schapiro.
Schapiro is the co-founder and a managing principal of Qualia Capital LLC. Before co-founding that company in 2003, he was President and Chief Operating Officer of Artisan Entertainment.
Read the full release after the jump. [pagebreak]
Los Angeles, CA, February 14, 2011- MGM has appointed Ken...
- 2/14/2011
- The Hollywood Reporter - Movie News
Among those who must pay Don Johnson his $51.7 million in "Nash Bridges" money are billionaires Mark Cuban and Todd Wagner and their 2929 Entertainment, the actor's representatives said.
A judge ruled late Thursday that it was Cuban and Wagner's 2929, along with Rysher Entertainment and investment firm Qualia Capital -- operated by Amir Malin and Ken Shapiro -- that should foot the bill for money owed the actor stemming from his partial ownership of "Nash," a TV series he co-created in 1995.
Johnson first was awarded $23.2 million in July, a sum that was bumped by an additional $28.5 million last month, but it wasn't clear who was responsible for paying out all that cash.
Read the rest of the story at THR, Esq.
A judge ruled late Thursday that it was Cuban and Wagner's 2929, along with Rysher Entertainment and investment firm Qualia Capital -- operated by Amir Malin and Ken Shapiro -- that should foot the bill for money owed the actor stemming from his partial ownership of "Nash," a TV series he co-created in 1995.
Johnson first was awarded $23.2 million in July, a sum that was bumped by an additional $28.5 million last month, but it wasn't clear who was responsible for paying out all that cash.
Read the rest of the story at THR, Esq.
- 10/3/2010
- by By Paul Bond
- The Hollywood Reporter - Movie News
The Los Angeles Times reports today that Gary Barber and Roger Birnbaum, founders of Spyglass Entertainment, have signed a non-binding letter of intent to manage MGM, according to familiar sources. They are also discussing a Chief Operating Officer position for veteran Hollywood executive Ken Schapiro. They write: “Schapiro is partnered with Amir Malin in private media investment fund Qualia Capital, [...]...
- 9/8/2010
- by DiveTwin
- theonering.net
With MGM creditors calling the shots and debating the future of the studio with MGM management, the cold reality is that no one is going to buy MGM at the valuation the studio needs as it copes with its $3.7 billion debt load. Thus the next phase of MGM's reorganization will likely involve bringing in some entity to exchange some debt for equity and run the studio. Top of the list of possible partners are Spyglass, Summit and the guy who thought up this solution, Amir Malin of Qualia Capital, a private media and entertainment equity fund. He made an offer to infuse MGM with some $500 million to run a lean operation in hopes that the economy and Wall Street would eventually improve. Not only ...
- 5/28/2010
- Thompson on Hollywood
Disney Co. is weighing three offers for Miramax Films. The company could decide not to accept them. One: Supermarket magnate Ron Burkle's Yucaipa, in cahoots with Miramax-founders Bob and Harvey Weinstein. Two: Alec and Tom Gores of investment firms the Gores Group and Platinum Equity, advised by Sam Gores, founder of Paradigm talent agency. Three: Astonishingly, beleaguered financier David Bergstein's Pangea Media Group, reportedly the highest bid of the three, according to the Lat: Disney was initially seeking an all-cash deal of $650 million to $700 million, people close to the matter said. Summit Entertainment and Amir Malin's investment firm Qualia Capital early on weighed making bids but balked at the asking price. I'm rooting for the Weinsteins. They built the library, own some sequel rights, ...
- 4/7/2010
- Thompson on Hollywood
Private investor, 'corporate raider', Carl C. Icahn has issued the following letter to Jon Feltheimer, Co-Chairman, Chief Executive Officer of Lionsgate Entertainment Corp., in response to Lionsgate's announcement that its board of directors had rejected the Icahn Group's previously announced offer to purchase up to all of Lionsgate's outstanding common shares for $6.00 in cash per share:
"...Attention: Jon Feltheimer, Co-Chairman and Chief Executive Officer
Dear Jon,
I found several aspects of your statement yesterday of great concern.
To say that you have exhibited a "patient, disciplined strategy of building a strong and diversified company step by step over the past 10 years" is absurd.
In actuality, most of the stock's appreciation during the decade was the result of one transaction – the acquisition of Artisan.
In the press release announcing that acquisition, Artisan CEO Amir Malin stated, "We enter 2004 with our strongest theatrical slate ever." After the acquisition, Lions Gate's...
"...Attention: Jon Feltheimer, Co-Chairman and Chief Executive Officer
Dear Jon,
I found several aspects of your statement yesterday of great concern.
To say that you have exhibited a "patient, disciplined strategy of building a strong and diversified company step by step over the past 10 years" is absurd.
In actuality, most of the stock's appreciation during the decade was the result of one transaction – the acquisition of Artisan.
In the press release announcing that acquisition, Artisan CEO Amir Malin stated, "We enter 2004 with our strongest theatrical slate ever." After the acquisition, Lions Gate's...
- 3/26/2010
- by Michael Stevens
- SneakPeek
Private investor, 'corporate raider', Carl C. Icahn has issued the following letter to Jon Feltheimer, Co-Chairman, Chief Executive Officer of Lionsgate Entertainment Corp., in response to Lionsgate's announcement that its board of directors had rejected the Icahn Group's previously announced offer to purchase up to all of Lionsgate's outstanding common shares for $6.00 in cash per share: "...Attention: Jon Feltheimer, Co-Chairman and Chief Executive Officer Dear Jon, I found several aspects of your statement yesterday of great concern. To say that you have exhibited a "patient, disciplined strategy of building a strong and diversified company step by step over the past 10 years" is absurd. In actuality, most of the stock's appreciation during the decade was the result of one transaction . the acquisition of Artisan. In the press release announcing that acquisition, Artisan CEO Amir Malin stated, "We enter 2004 with our strongest theatrical slate ever." After the acquisition, Lions Gate's...
- 3/26/2010
- HollywoodNorthReport.com
Get ready for a grittier sequel.
MGM confirmed Monday that multiple offers have been received to buy the Century City studio, but signs suggest strongly that none approached the $2 billion price target. So the Lion's more than 100 debt holders are almost certain to press for a bankruptcy reorganization of the studio.
That would shift most equity from the current ownership group to the lenders. But it's likely that new equity capital also will be sought, which probably would mean a new round of solicitations.
Lionsgate and Access Industries had placed bids for MGM by Monday. It was less clear whether Time Warner had bid, but an offer was expected.
"MGM has received a number of bids as part of its ongoing process of exploring strategic alternatives, which include continuing to operate as a standalone entity and evaluating a potential sale of the company," the studio said. "The company will review...
MGM confirmed Monday that multiple offers have been received to buy the Century City studio, but signs suggest strongly that none approached the $2 billion price target. So the Lion's more than 100 debt holders are almost certain to press for a bankruptcy reorganization of the studio.
That would shift most equity from the current ownership group to the lenders. But it's likely that new equity capital also will be sought, which probably would mean a new round of solicitations.
Lionsgate and Access Industries had placed bids for MGM by Monday. It was less clear whether Time Warner had bid, but an offer was expected.
"MGM has received a number of bids as part of its ongoing process of exploring strategic alternatives, which include continuing to operate as a standalone entity and evaluating a potential sale of the company," the studio said. "The company will review...
- 3/22/2010
- by By Carl DiOrio
- The Hollywood Reporter - Movie News
Two studio auctions had set deadlines for bids for the past weekend, but the situations drew more yawns than offers.
MGM managed to wrangle one or more bids from the latest round of its Moelis-led process to sell the Century City studio and has given stragglers until Monday to file additional offers. But none are likely to hit a $2 billion price target amid broad disappointment about the results of financial due diligence, so the prospect of a bankruptcy reorganization of the Lion grows stronger by the day.
Time Warner has been considered the leading suitor for MGM, with Lionsgate also still in the running. The latter minimajor bid less than $1.5 billion in its latest offer; it's unclear what amount Time Warner has placed as a binding bid for MGM, or even if it has placed one at all.
Separately, Disney -- which has tagged its Miramax assets for sale --...
MGM managed to wrangle one or more bids from the latest round of its Moelis-led process to sell the Century City studio and has given stragglers until Monday to file additional offers. But none are likely to hit a $2 billion price target amid broad disappointment about the results of financial due diligence, so the prospect of a bankruptcy reorganization of the Lion grows stronger by the day.
Time Warner has been considered the leading suitor for MGM, with Lionsgate also still in the running. The latter minimajor bid less than $1.5 billion in its latest offer; it's unclear what amount Time Warner has placed as a binding bid for MGM, or even if it has placed one at all.
Separately, Disney -- which has tagged its Miramax assets for sale --...
- 3/21/2010
- by By Carl DiOrio
- The Hollywood Reporter - Movie News
The Lion's lenders are growing restless.
With a dearth of second-round activity in MGM's search for a buyer, there is increasing likelihood that the studio will undergo a bankruptcy reorganization.
Six suitors are conducting additional due diligence, which includes management presentations of detailed financial information about the Century City studio. But a deadline on second-round bids hasn't been set following receipt last month of a dozen nonbinding offers in an initial round of bidding best described as underwhelming.
MGM consultant Moelis & Co. invited just half of those making first-round offers to participate in the next phase of the process, including Time Warner, Lionsgate and Access Industries, with Qualia Capital still circling but not actively involved.
Time Warner is considered a favorite to win the competition with a top bid. But it's far from certain that the Warner Bros. parent will be motivated to offer top money for the Lion, whose...
With a dearth of second-round activity in MGM's search for a buyer, there is increasing likelihood that the studio will undergo a bankruptcy reorganization.
Six suitors are conducting additional due diligence, which includes management presentations of detailed financial information about the Century City studio. But a deadline on second-round bids hasn't been set following receipt last month of a dozen nonbinding offers in an initial round of bidding best described as underwhelming.
MGM consultant Moelis & Co. invited just half of those making first-round offers to participate in the next phase of the process, including Time Warner, Lionsgate and Access Industries, with Qualia Capital still circling but not actively involved.
Time Warner is considered a favorite to win the competition with a top bid. But it's far from certain that the Warner Bros. parent will be motivated to offer top money for the Lion, whose...
- 2/18/2010
- by By Carl DiOrio
- The Hollywood Reporter - Movie News
MGM's owners appear to know they are going to be left with pennies on the dollar of their $4.9 billion investment.
Details of a restructuring proposal are being formulated by MGM and its advisers. But a series of conference calls between Lion execs and studio creditors have made it plain that the MGM owners' hold on the studio is crumbling.
A recent audit confirmed the Lion is in no imminent danger of insolvency. But cash flow is so tight that MGM execs recently met with liquidity consultants to discuss strategies for navigating relations with the studio's many vendors.
Creditor-side sources say the Lion's consortium of owners -- including investment firms Providence and Tpg as well as Comcast and Sony -- will do well to come out of the restructuring with even a 10% stake in the studio.
A restructuring would make roughly 150 MGM creditors majority owners of the studio by converting about...
Details of a restructuring proposal are being formulated by MGM and its advisers. But a series of conference calls between Lion execs and studio creditors have made it plain that the MGM owners' hold on the studio is crumbling.
A recent audit confirmed the Lion is in no imminent danger of insolvency. But cash flow is so tight that MGM execs recently met with liquidity consultants to discuss strategies for navigating relations with the studio's many vendors.
Creditor-side sources say the Lion's consortium of owners -- including investment firms Providence and Tpg as well as Comcast and Sony -- will do well to come out of the restructuring with even a 10% stake in the studio.
A restructuring would make roughly 150 MGM creditors majority owners of the studio by converting about...
- 9/9/2009
- by By Carl DiOrio
- The Hollywood Reporter - Movie News
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