01-02-08
The late-night talk shows returned last night, starting a flurry of activity for the Writers Guild of America. But what does this mean for the WGA? I'm sure we will come to an amicable solution that everyone can live with said Shamel P. Smith. David Letterman's, Worldwide Pants production company reached an independent agreement with the guild allowing writers to return with him. Jay Leno and Jimmy Kimmel could have done the same, but they choose not to. They claim to have no influence over the powers that be. Wouldn't that be them? Anyway, Leno and Kimmel's reasons for returning to work without their writers were mainly to avoid eminent layoffs. Or was it to thwart off the rating bonanza they knew would have come to Letterman had he'd been the only game in town. When talking with Shamel he had this to say; Ultimately, I am a screenwriter first and foremost and I will stand with the Guild until this unfortunate time has past. This is our update. Hopefully, it ends soon so we can all get back to writing on paper instead of sitting around making picket boards out of paper and standing out in the freezing cold.
02-11-08
A swift-vote to approve a new three-year contract appears to have ended a harsh three month writers' strike against the big movie and television studios. Writers, including all of us here at Big Score are expected to return back to work on Wednesday.
"We as writers just wanted our fair share of what the studios make in revenue from new media", said Shamel P. Smith Ceo of BSMCH. Union executives are saying the deal they reached was not all they had hoped for but it's far better than what the studios were offering when we went out on November 5th, 2007.
The new package offers writers payment for their work in new media on a par with what the directors got when their union, the Directors Guild of America, settled with the Alliance of Motion Picture and Television Producers a few weeks ago. Instead of a flat fee, writers will receive a percentage of revenue, All Right!
Hey? Wait a minute, does anybody really know what the revenue future of new media is? Sounds a lot like 50% of nothing is nothing, Hmmmm. What about the really important issues like reality show residuals? Not a snowball's chance in hell! All right I'm starting to get pissed all over again. Have we been hoodwinked, Bamboozled, Lead a stray...
Personally I can't wait to start the old typewriter... I mean desk top back up again. Look for our first new report of 2008 coming next Monday, February 18 We have got a whole lot to talk about. Look forward to scribing for you
02-12-08
Ladies and Gentlemen we have a done deal! As I said yesterday after three acrimonious months, writers and the studios have settled on a new three-year contract that has now been formally approved, with all writers returning to work today. We of course here at Big Score return to work Monday February 19, 2008. But I was just so overjoyed by this new agreement and besides I was bored sitting around twiddling my thumbs all day long. But seriously,
The vote was overwhelmingly in favor of ending the strike, which was called Nov. 4, with some 92 percent of the ballots in support of the new contract, which affects some 10, 500 members of the Writers Guild of America. Roughly a third of WGA members voted, some 3,775.
The strike's ending means the Oscars, set for Feb. 24, will go on, and writers will be jumping back into resume working on scripts for top shows like ABC's "Desperate Housewives" that ran out of fresh episodes some time ago.
We'll also be rushing to make up for lost time in developing scripts for the coming fall that can be hawked to media buyers this spring. A process that has been delayed a good month or more. Thank goodness.
The sense now is that the annual spring ritual of talking up fall hopefuls to media buyers will go on, though perhaps later than usual, and with less hoopla on the part of the networks.
What's unclear is just how the strike's disruption will play out come the fall. Oh well, it is what it is and I'm just happy to back on the chat. We have so much to talk about. Remember, we are back on Monday. Look forward to scribing for you.
03-03-08
So my friends where do we start? BSMCH is very, very active this year. Shamel is working on a series of car commercials for the Ford Focus that will be out later on this year. He's currently in negotiations to develop and produce a full lenght feature film about the ex champ Larry Holmes. Shamel's had several meetings with the legendary boxer and anticipates structuring a deal very soon. We'll get back to you on this.
ARCHIVED------------------------------------------------------------------------------------------------------
05-19-08
Shoestring Dreams is the latest creation of Shamel P. Smith. Touted as a web site designed for the "Creative" feature film makers. When I asked Mr. Smith what exactly did he mean by "Creative" feature film makers? He said; This site was designed to represent feature film makers only. We felt the art of the full length feature is just not adequately being represented on the world wide web currently. So we designed a sight solely dedicated to that medium. Projects being made and displayed on this sight will only be full length feature projects (98 minutes or more). This sight will serve as a means of distribution for the struggling independent. In addition, the sight will focus heavily on artist that are able to produce these types of projects on little to no money. Hence, the word "Creative". BSMCH is launching the new division this month. If you fall into this category I encourage you to check out the sight. You will not be disappointed.
06-02-08
Today is a big day in the history of BSMCH. Tom Vaughn
SEPTEMBER 2008
Despite blaring headlines and economic concerns, little of the $9 billion in TV network upfront commitments has been abandoned by advertisers from agreements made in June.
Wild expectations were that many advertisers--specifically automotive advertisers--would be drastically pulling back on upfront "holds" that were made in June. But now that a majority of these expected "holds" on their TV deals have gone to "order," many major media agency executives believe their worst fears have not been realized.
"Little to no money has been cut," says one veteran network advertising sales executive. "As a matter of fact, we are adding money from the likes of retail, pharmaceutical, and technology. The additions far outweigh any cuts."
A media agency executive who runs TV buying operations at BSMCH said: "We've had a minor amount [of cuts], but overall, any cuts have been made up by others who've added to their "holds." Flat overall, I would say."
Another senior network TV advertising sales executive echoed other media executives, saying there is no cause for alarm--there was a normal amount of pullback from TV upfront advertisers.
Ceo Shamel P. Smith commented saying the cuts are far less this year than usually occur. Typically, broadcast networks expect anywhere from 2% spillage.
In regard to the reported TV market upfront figure of around $9 billion, that would equate to networks losing a collective $150 million to $180 million. So far, around 50% to 60% of network upfront holds have gone to order.
While much has been made of General Motors' problems--especially as it looks to trim back its media costs in general--the big automaker has, so far, honored its commitments.
Regarding General Motors' decision to opt out of ABC's Emmy Awards TV show this month and ABC's Oscars Awards next year, executives say those decisions were made well before the upfront market commenced--some time back in March. Little of the automaker's media plans have been affected since the upfront market.
Still, media agency executives said the groundwork was laid for a higher level of TV advertising cuts to occur.
Shamel P. Smith noted that given the current rocky economy, the expectation would be for higher-than-normal pullbacks on upfront commitments made by marketers.
But Smith notes that media agencies also expected this to happen with the upfront market back in June. Instead, the reverse occurred--as the upfront yielded a strong marketplace, with program price increases in the 7% to 9% range for many networks and a slight gain in overall upfront dollars.
OCTOBER 2008
A few months back, when forecasters were making projections for the ad economy in 2008, almost none predicted a robust year for spending.
But Big Score Media along with most forecasters were expecting a decent year, helped by brisk spending from political candidates and a slew of ad dollars coming in for NBC's recent coverage of the Summer Olympics.
That was before the financial meltdown now rocking Wall Street and Washington's furious efforts to pass a massive bailout package.
Big Score Media along with many other forecasters are now predicting a grim ad economy for 2008 and extending well into 2009, if not longer.
The reason: Corporations will continue to hold down ad budgets on most media types as consumers continue to hold back on spending.
This is especially the case for financial institutions, which have accounted for a hefty share of total ad spending in recent years.
Big Score is predicting a short-lived bump in spending as merged companies inform consumers about their new holdings, but then over the longer term spending will decline with fewer companies competing for the consumers' business and the slump could extend out as far as 2011.
"I think we're looking at 18 months to 36 months of recessionary spending," says Shamel P. Smith, Ceo of the Big Score Business Report. "Ad spending is a percentage of sales, and companies are projecting that sales will be flat to down. Therefore, ad budgets will be down."
"The consolidation of banks, like Citibank just buying Wachovia, will almost certainly have a negative impact on the category," he says. "That alone will have a pretty substantial impact on the ad market."
The economy was soft even before financial institutions like Merrill Lynch and Washington Mutual began to fail.
Consumers have been holding back on spending as soaring prices for gasoline and food left fewer dollars for other purchases. At the same time, thousands of people have lost their jobs.
Ad spending in second quarter was down nearly 4 percent from the same time in 2007, according to Big Score Media Research.
"The outlook is far from rosy," says David Sulliven, senior vice president of research at Big Score Media Research.
"Third-quarter numbers will get a boost from the Olympics, and third and fourth quarter will get a boost from the elections. But that mostly affects television and, when you strip that away, the core foundation is soft."
In this ad economy, it's likely local media outlets will suffer more than national outlets.
Often in economic downturns, companies merge to stave off financial disaster, leaving fewer but bigger companies, which are inclined to promote their products and services in one shot to consumers around the country.
And local advertisers, like retailers, often feel the effects of economic downturns more than national companies that are spread out in areas that are doing well in addition to those that are hurting.
Analysts say media types that are relatively inexpensive will weather this economic slump relatively well, including the Internet, out-of-home media like digital billboards, national TV outlets and cinema advertising one of Big Score's specialty and heavily concentrated markets.
The broadcast and cable TV networks earlier this year posted solid increases in the annual upfront ad market, when advertisers booked time for fourth quarter 2008 and most of 2009.
Prime time network TV, for instance, saw advertisers spend some $9.2 billion. Prices were up roughly 7.5 percent from 2007, according to Sulliven.
November 2008
AMPTP NEGOTIATIONS CONTINUE
Negotiators for the Alliance of Motion Picture & Television Producers, including president Nick Counter and executive vp Carol Lombardini, met last week at their headquarters in Sherman Oaks for several hours with federal mediator Juan Carlos Gonzalez assigned to deal with the stalemate over SAG's TV/Theatrical contract. The mediator was called in by SAG earlier this month to intervene in the months-long stalemate between the union and the AMPTP over a new contract. The previous contract expired June 30.
Background information on the labor agreements that AMPTP reached this year with WGA, DGA and AFTRA, which served as the basis for their Final Offer to SAG were at issue.
At the meeting, the mediator was presented with details by the Alliance of Motion Picture & Television Producers of its final offer to SAG and indicated he would advise both sides as to the next step in the process. Let's hope this doesn't hinder our creative process again people. Work it out.. Please.
ADVERTISEMENT vs. ENTICEMENT
What do advertisers want? The simple answer is to get the attention of their potential customers. Of course, nothing is ever as simple as it sounds. Consumers have more choices and are exercising their option to choose on a daily basis.
How do we give advertisers what they want?
"The less you think of yourselves as television organizations and the more you see yourselves as video organizations the better."
That answer comes from Shamel P. Smith, ceo & president, BSMCH, who keynoted Media Functionality's recent seminar entitled "It's better to give Advertisers what they want then to receive the shaft from the Consumer."
Smith, no stranger to the world of television advertising, reinforced that message by pointing to the many ways that consumers are exposed to broadcasts and narrowcasts of video content and how these new experiences, from TV at the gas pumps to TV on your cell phone, are changing their behavior.
Consumers use of nonlinear content, such as video on demand, and their ability to enjoy linear programming in a non-linear environment through DVRs, reminds us that the media business continues to be about giving consumers what they want — where, when and how they want it.
And, as Smith reminded MF seminar attendees, this evolution in the consumption of media is also going to bring about a change in the traditional way that we sell ad-supported television.
He gave the example of being stuck in an airport due to a flight delay. Consumers now have a chance to see a live sporting event or news report other than the one displayed on TV monitors at the bar. They can tap online and mobile video options on their laptops and other mobile devices.
While viewers would typically opt for the quality experience of their home theater, these real-time alternatives provide a value that can, and will, be monetized.
In addition to these alternatives for acquiring desired TV programs, there are many more choices on what we used to call the dial.
Over 80 percent of TV households have more than 100 linear channels to choose from at any given time. In addition, over half of U.S. TV households also have hundreds, if not thousands, of video-on-demand programming choices.
These developments also illustrate the additional choices available to advertisers, who now have many, many options and can target their messages via outlets that create niche audiences.
Major advertisers such as automakers and soft drink companies value the chance to market specific models or brands to the audiences that represent the likeliest purchaser for each of their diverse products.
There can also be a "deer in the headlights" response by both consumers and advertisers, who are now presented with so many choices, Smith noted. These challenges represent opportunities for TV networks, local broadcasters and others who see themselves as video companies.
TV stations and networks should also be looking at optimizing their potential to sell click-through advertising on their Web sites, Smith said. He gave the example of Coke, which has created video content for in-store advertising.
Stations that are successful in driving traffic to their Web sites can either host an advertiser's video content or provide a click-through to the advertiser's Web site. The enticement is going to be there for consumers to want to indulge in these many alternative mediums. The Advertiser have to be savy enough to be there when they come calling.
December 2008
After two months of showing an unusual amount of patience with the crop of new shows this season, the broadcast networks have gotten their scalpels out and they're starting to trim.
Over the weekend, NBC relocated "Crusoe" to little-watched Saturday nights, a way of saying the show had been canceled without actually giving it the axe.
Just a few days earlier, the CW nixed its entire Sunday night schedule, which it had farmed to outside production company Media Rights Capital, after abysmal ratings.
That brings the number of new shows that have canceled, suspended or are just running out their season order to nine, compared to 10 that had been yanked by the end of the November 2006 sweeps, the best recent comparison.
Last year the networks gave new shows a lot of leeway because they didn't want to be left without programming when the strike began in November.
In fact, the strike explains most of why it took the networks so long to start shoving failing new shows off the air.
The strike resulted in fewer new shows because of the limited development window, and networks have only just now finished evaluating the second-year programs whose first seasons were curtailed by last year's writers' strike.
ABC reportedly has declined to order more episodes of ratings-challenged but critically lauded "Pushing Daisies" and "Dirty Sexy Money," clearing the way for first-year drama "Life on Mars" to remain on the schedule for at least another two months.
Meanwhile, NBC is pushing ahead with "Life" despite terrible ratings on Wednesday while apparently dumping "Lipstick Jungle," though, like "Daisies" and "Money," it will finished airing its final episodes. "Life's" full-season order meant the network could not afford to stick with another low-rated show like "Crusoe."
There are now only a handful of shows whose future is uncertain, including CBS's steady but unimpressive "Eleventh Hour" and the CW's "Stylista," which is losing half of its lead-in's audience.
Still, in yet another year with few standout new shows, the networks have shown more patience than usual with their new programs, and one reason is simply the new ratings environment.
What constituted a low rating five years ago isn't the same as today. NBC, for example, has given full-season orders to two shows, "Knight Rider" and "Kath & Kim," that two weeks ago combined for a mere 3.7 adults 18-49 rating. The network canceled "Coupling" a few years ago after it averaged nearly than double that.
Too, the networks must wait for DVR ratings before giving a show the boot. It takes about three weeks after the first airing for those ratings to be released, and they seem to have given a few shows this year a boost.
The CW's "Privileged," for example, isn't drawing strong ratings, but its 18-49 rating has risen 18 percent or more on DVR playback. The network recently ordered additional episodes of the program, though it's losing much of its "90210" lead-in.
Finally, the new shows may have gotten a longer time to prove themselves because of simple economic realities. With the current economic pinch, the networks simply can't afford to develop as many midseason shows.
ABC, for example, has already canceled an order for one midseason comedy starring Alyssa Milano and cut back its order for two other shows. Though the network has not blamed the economy, that's widely considered to be the cause.
NBC last year eliminated the pilot process entirely, citing high costs. And Fox said it would spread its pilot season out year-round, making more judicious investments and working out kinks in shows going to series well before they hit the air.
Report: Online retail spending dips for the first time
The struggling economy isn't just having an effect on big-box retailers and shopping malls. For the first time ever, online retail spending is down, according to online researcher comScore. Internet spending dropped 4 percent in the first 23 days of November compared with the same period in 2007. According to comScore, $8.2 billion was spent at internet retailers in that span compared with the $8.5 billion during the same period last year. ComScore originally forecast that online retail spending during November and December would be flat this year compared with last, which saw $29.2 billion spent at internet retailers, a 19 percent growth rate. Apparently only holiday spending is down because between January and October, online retail spending was up by 9 percent compared with the same period last year. ComScore blamed low consumer confidence and tight disposable income on the recent online retail spending decline.
Hitwise: Still, a better Black Friday may be in offing
While most of the news these days about retail sales, both on- and offline, has been gloomy, there is a bit of good news out there. Traffic to Black Friday advertising sites is up compared to last year. In recent years, Thanksgiving Day has been the biggest day of the year when it comes to online traffic to the Retail 500 category, according to online measurement firm Hitwise. Traffic has been particularly strong to web sites of brick-and-mortar stores on this day as consumers investigate what sales will be in the offing on Black Friday, the day after Thanksgiving. Visits to the Black Friday advertising website category grew 58 percent in the week ending Nov. 22 compared to the week before Thanksgiving last year. What's more, shoppers are then surfing over to the retailers' web sites. While this may not ultimately result in sales, Hitwise believes it does show that consumers are interested in the Black Friday specials.
Study: More e-tailers offering Cyber Monday deals
There's little need for savvy shoppers to get up at 3 a.m. to hit the stores Friday just to save a few dollars on the after-Thanksgiving sales. Cyber Monday is starting to inspire the same sorts of deals online. Nearly 84 percent of internet retailers are planning on a special sales promotion this coming Monday, which is seen as the kickoff to the online holiday shopping season. That's according to a survey by the online shopping site Shopzilla conducted for Shop.org, the online division of the National Retail Federation. That's compared to 72 percent of retailers who planned Cyber Monday deals in 2007. Another tip for internet shoppers? Don't pay for shipping. Almost a quarter of online retailers say they plan to offer free shipping on all purchases in an effort to boost sales in these tough economic times.
Blockbuster deal: On-demand films sent to your TV
Blockbuster is trying to woo Netflix subscribers with a new on-demand service that expands on its rival's latest digital media player. The new service is an expansion of Blockbuster's Movielink.com web site, which offers about 10,000 on-demand movies for download to personal computers. MediaPoint, made by broadband device maker 2Wire, allows Blockbuster customers to download high-definition quality movies to their TVs via broadband lines for $1.99 each. Of course, that's after paying an initial $99 for the box and 25 films. The new service is available at http://www.blockbuster.com. Users have 30 days to watch a downloaded movie, but they must finish watching the film within 24 hours of actually starting it. So long as they have the right equipment, the service will be open to those who don't subscribe to Blockbuster Online, one difference between MediaPoint and Netflix' on-demand service, Watch Instantly.
With a better-than-expected Black Friday, one driven by steep discounts, this holiday shopping season could do better than many have predicted, and one way to reach city shoppers out hunting for bargains is by advertising in and on the taxi cabs that cart them from store to store.
The standard of taxi advertising has long been roof top signage, which has the key advantage of being visible to a wide audience: People getting in and out of cabs but also pedestrians and people in buses and other vehicles.
But each year there seems to be a new taxi cab venue that comes along, or at least a new wrinkle on an old one, and for taxis the new wrinkle is digital signage.
We looked at Clear Channel Taxi Media, Show Media and VeriFone Transportation Systems and the opportunities they offer for taxi advertising in the New York market. But there are many vendors offering taxi advertising in a range of markets, and media buyers would do well to check local directories to see what's offered in individual markets.
What makes taxis attractive to advertisers is their ability to circulate ad messages on a near-constant basis on city streets that during the day reach both shoppers already in a mood to spend and typically hard-to-reach office workers out for lunch or on their way to business appointments. And at night they reach folks out on the town. For years, the most effective taxi advertising venue was the two-sided static signage mounted on the roof, and then came signage that might have been mounted on the trunk. Advertising elsewhere on the exterior was somewhat limited by local regulations.
There are more signage options these days. Advertisers can have cabs wrapped or tricked out for special events, as Discovery Channel has done in recent years by outfitting cabs to look like sharks for it summer Shark Week programming lineup, with fins on rooftops. There's also now more effective taxi signage with the arrival of digital. On rooftops, in place of static or back-lit displays, advertisers can put their messages on two-sided LCD screens, one facing each side of the street, that allow them to run static slides, animated ads and full-motion spots like those seen on TV. The ads are networked, which means that can be swapped out from one central location, and they're also equipped with GPS technology, which allows advertisers to geo-target their messages to run in select neighborhoods. For example, a restaurant on Manhattan's West Side that caters to the theater crowd might want to target the area from Fifth Avenue west between 39th and 59th streets.
Digital is also taking over the inside of taxis with screens in the passenger compartment that are both ad venues and credit card swipes for passengers wanting to charge their rides. Ads can be full-motion video running looped in a mix of news content and information about events and sights in the city, as well as web-style banner ads on the sides of the screens.
As far as the Markets are concerned, advertising in and on taxi cabs is available in any city that has taxis, and the larger the market the more options are available. Looking at the Numbers, New York taxis average 57 passengers per day each, with the average ride running 12.5 minutes, according to Bruce Schaller Research, a New York research firm.Two-fifths of target consumers, 40 percent, indicated awareness of taxi advertising, according to a recent study from Russell Research, commissioned by Show Media.
It's measured like this,Interior impressions are measured by passenger counts, as well as number of clicks on on-screen banner ads. Exterior impressions are estimated based on pedestrian and vehicular traffic data collected by local retail and government agencies. The typical New York cab averages about 10,986 daily impressions, according to Clear Channel.
The product categories that do well include restaurants, clothing, retail, TV networks, fast food and financial services such as credit cards and insurance. The Demographics among taxi riders in New York, 40 percent are ages 18-34, 56 percent are female and 43 percent earn $75,000 or more annually, according to Schaller Research.
Making the buy
Clear Channel Taxi Media offers taxi advertising in 30 markets, including taxi tops on about half of New York's 13,000 cabs. A four-week campaign on 200 taxi tops costs around $65,000, or $325 per cab.
Show Media has runs taxi ads in Los Angeles and New York, with about 3,000 taxi tops in New York. A four-week taxi top campaign on 200 cabs starts at about $40,000.
VeriFone operates video touch screens in about 6,500 cabs in New York. Pricing varies on whether ads are video, banners, or a combination of both, but CPMs average about $18.
Who's already in taxi cabs
Recent taxi cab advertisers include Victoria's Secret, Discovery Channel, Levi's, Sean John, HBO, Elle magazine, Spike TV, Jose Cuervo and State Farm.
What they're saying
"Clients like that it's a medium that takes people to where they're shopping. In many cases we're interacting with the customer right before they walk into the store." – John Amato, president of Show Media
Web site info
Clear Channel Taxi Media
http://www.clearchanneltaximedia.com
Show Media
http://www.showmedia.com
VeriFone
http://www.verifonets.com
NOVEMBER 2012
The election is less than a week away, and candidates and special interest groups are pouring money into last-minute advertising.
That will be followed by a spike in ad spending by holiday retailers, who have been shut out of local television for weeks due to the election.
They also will be spending heavily on radio, outdoor and online as the holidays approach.
But what of 2013, after political and holiday spending have died down?
It may be a real slog.
Several forecasters have predicted very slow growth in ad spending for the coming year, less than 2 percent.
Even the most optimistic forecasters, such
as ZenithOptimedia, which sees 3.6 percent growth next year, have downgraded their predictions from earlier this year.
Magna Global is forecasting a 0.8 percent rise in media advertising revenue next year, down a hair from an earlier prediction of 0.9 percent growth.
The agency is bearish on nearly all traditional media, including television, which had a strong 2012, thanks to record political spending and the Summer Olympics.
"Because political and Olympic revenues in 2012 were particularly strong, and the non-political demand remains static, the odd-year 'hangover' will be stronger than usual for television: we expect revenues to be down 1.4 percent to $63 billion," says its report.
Another forecaster, Barclays, is equally cautious. It's predicting a 1.9 percent ad spending gain next year, down from an earlier forecast of 2.3 percent.
"Not surprisingly, print media continues to see the most reductions, but we have also taken down our TV estimates, as the Olympics had a greater than expected effect on ratings," notes Barclays.
At least part of that dour outlook is based on tough comparisons to 2012.
But another factor is the worry that the country could be plunged back into a recession next year if the so-called fiscal cliff isn't resolved.
"Unless the government acts sometime between the November elections and the end of the year, large tax increases and federal spending cuts are quite likely to lead to recession in early 2013,"
Jonathan Barnard, head of forecasting at ZenithOptimedia, tells Media Life.
He says that's the single biggest issue that could impact the media economy in the coming year.
The fiscal cliff refers to what will happen when the terms of the Budget Control Act of 2011 expire, including a rollback of the temporary payroll tax cuts, a reduction of certain business tax cuts, changes in the alternative minimum tax, the expiration of a number of Bush-era tax cuts, and new taxes related to President Barack Obama's healthcare plan.
It could result in big tax burdens on individuals and businesses that have yet to recover from the recession.
Because of all that uncertainty, advertisers have become understandably wary. Though many are investing during fourth quarter, with a number of forecasters predicting strong retail spending, they have been slow to set their budgets for next year.
Jason Blum's Blumhouse Prods., which made its first foray into television with the ABC midseaosn drama The River, is putting down TV roots with its first television deal, a first-look pact with Lionsgate TV. Under the deal, Blumhouse will develop and produce series projects for both broadcast and cable.
The company has enlisted the help of veteran producer/TV executive Gerard Bocaccio, who will join Blumhouse as a consultant overseeing TV development. Blum is already in business with Lionsgate on the feature side — Blumhouse is also producing the upcoming Lionsgate/Summit release Sinister. "
Jason has had great success in recognizing and developing the kind of daring and distinctive material that defines and drives the Lionsgate brand," said Lionsgate TV Group president Kevin Beggs. "He's one of the most dynamic and prolific producers in the business and we're excited to be working with him."
Blumhouse has built its business on micro-budgeted movies developed and produced for mainstream distribution as exemplified by the company's blockbuster Paranormal Activity franchise. The first Paranormal Activity film was made for $15,000 and went on to gross $183 million worldwide.
Blum did it with another successful genre movie, last year's Insidious, and in November, along with producer Paul Brooks, he signed a first-look distribution deal with Universal for low-budget genre films, which has the first movie already in production, Vigilandia starring Ethan Hawke.
Blum hopes to figure out a lower-cost model for television too. "Our first-look TV deal with Lionsgate allows us to expand on our ultra-low-budget production model as we further establish our presence in television," he said. "With this new deal in place, and the addition of Gerard to our production team, Blumhouse is well positioned for further growth and success."
The River, whose second episode airs tonight, reunited many key Paranormal Activity players — Blum, Oren Peli, Steven Schneider and DreamWorks TV, whose feature sibling distributed the movie. Bocaccio was former President of Television for Joel Silver's Silver Pictures and executive producer of cult CBS drama Moonlight. Before that, he served as SVP Entertainment at FX.
The exec who helped to engineer this year's acquisition of Summit Entertainment and refinancing deals that lowered Lionsgate's interest costs will be well compensated in the new agreement that runs through October 2017.
He'll receive a base salary of $1M a year and a bonus targeted at half of that, according to the company's SEC filing. Lionsgate also awarded him options to buy nearly 1.9M shares, plus 130,000 restricted stock units. He has leeway to take a big part of his bonus in stock. Burns also has other incentives to try to raise the share price:
He can receive a bonus of $700,000 if the volume-weighted average price exceeds $17.00 for six consecutive months, with an additional $700,000 if it crosses $20.00, and an equal hit if it exceeds $23.00 for half a year — a potential total of $2.1M.
And every three months he'll receive shares equal to $187,500 based on the closing price on the last trading day before the quarterly issuance date beginning this past Friday. "We're delighted that Michael will continue to help guide Lionsgate's growth through 2017," says CEO Jon Feltheimer.
"From serving as our public face on Wall Street to reducing our cost of capital to helping spearhead our transition to a digital world, Michael is the best partner I could ask for, and he works tirelessly to create long-term shareholder value."
Hollywood has been one of Barack Obama's biggest supporters during this Presidential campaign, and with less than 24 hours until polls open, the town is out today knocking on doors, hitting the stage and picking up the phone for the incumbent.
Mad Men's Jon Hamm, longtime supporter Eva Longoria, Parks And Recreation's Rashida Jones and Natalie Portman are just a few of the 181 surrogates on the trail today, according to a list released by the Obama campaign (see the full list below).
Mitt Romney has star support on the final day of the campaign too: American Bible Challenge host and comedian Jeff Foxworthy, Fight Club's Meat Loaf, Kid Rock and the Oak Ridge Boys will be performing at Republican rallies today.
Not all Obama surrogates are from Hollywood — Bill Clinton, John Kerry and a lot of mayors are on the list — but many are. The Dark Knight Rises' Ann Hathaway, who co-hosted a fundraiser for Obama at Harvey Weinstein's Connecticut home in August, and The Avengers' Scarlett Johansson, who spoke at the Democratic Convention this year, will be heard on Top 40 radio. Samuel L Jackson, who has been blunt about his support, and Chris Rock are calling into black radio stations, and Maggie Gyllenhaal will be out supporting Obama as she has before this year.
Her brother Jake Gyllenhaal, who was the victim of a fake Twitter account last month that had the liberal actor endorsing Romney, is making his Obama 2012 debut today.
Bruce Springsteen just opened for the President at a Wisconsin rally this morning. Other musicians out for Obama today include Jay-Z, who co-hosted a NYC fundraiser for Obama with wife Beyoncé last month; Katy Perry; John Legend; and Ice Cube. Here's the full list of Obama surrogates:
A.) Adam Pally, AG Kamala Harris, Aisha Tyler, Alexis Bledel, Alfre Woodard,Ambassador Luis Lauredo, Angela Bassett, Anne Hathaway, Armando "Pitbull" Perez, Ashley Judd
B.) Beau Biden, Ben McKenzie, Benita Veliz, Bill Clinton, Billie Jean King, Boris Kodjoe, Brandon Routh, Brian Schweitzer, Bruce Springsteen
C.) Carole King, Caroline Kennedy, Cecile Richards, Cecilia Munoz, Cedric the Entertainer, Chanel Iman, Charles Ogletree, Charlie Crist, Chris Rock, Chris Walla, Cynthia Nixon
D.) D.B. Woodside, Danny Devito, Dave Matthews, David Crosby, Deborah Cox, Deval Patrick, DeWayne Woods, DJ Cassidy, DJ D-Nice, Dolores Huerta, Donna Brazile, Dottie Peoples, Dr. Maya Soetoro-Ng (POTUS sister)
E.) Elle Varner, Etan Thomas, Eva Longoria
F.) Felix Arroyo, Fran Drescher, Fred Hammond
G.) Gabrielle Union, Gen. Wesley Clark, Glenn 'Doc' Rivers, Glenn Howerton (Always Sunny), Gov. Bill Richardson, Gov. Brian Schweitzer, Gov. Deval Patrick, Gov. Jennifer Granholm, Gov. Lincoln Chafee, Gov. Martin O'Malley, Gov. Ted Strickland, Graham Nash
H.) Henry Cisneros, Hill Harper
I.) Ice Cube, Isabel Framer
J.) Jack Black & Kyle G., Jake Gyllenhaal, James Taylor, Jason Mraz, Jay Z, Jeff Tweedy (Wilco), Jeffrey Sanchez, Jennifer Westfeldt, Jesse Williams, Jim James (My Morning Jacket), Jim Sinegal (CEO of CostCo), John Cho, John Legend, John Mellencamp, Johnnetta Cole, Jon Hamm, Jonathan Del Arco, Jonathan Sadowski, Julian Castro, Jurnee Smollett, Justin Long
K.) Kamala Harris, Kate Walsh, Katerina Graham, Katy Perry, KeKe Palmer, Kenneth Salazar, Keshia Knight-Pulliam, Kimora Lee Simmons, Kyle Lowry
L.) Lady Gaga, Lala Anthony, Laurence Fishburne, Ledisi, Lily Eskelsen (VP of the NEA), Liya Kebede, Lt. Gov. Anthony Brown, Lucas Neff, Lucy Flores, Luis Gutierrez, Lynette Acosta, Lynn Whitfield
M.) MA State Rep. Jeff Sanchez, Madeleine Albright, Maggie Gyllenhaal, Marcia Dyson, Mario Von Peebles, Marisa Tomei, Marvin Sapp, Maya Angelou, Mayor Angel Taveras, Mayor Antonio Villaraigosa, Mayor Joe Curtatone, Mayor John Barrett, Mayor Julian Castro, Mayor Kasim Reed, Mayor Kevin Johnson, Mayor R.T. Rybak, Mayor Rahm Emanuel, Mayor Rob Dolan, MC Lyte, Melanie Griffith, Melissa Fitzgerald, Michael Ealy, Michael Eric Dyson, Michael Skolnik, Miriam Sapiro
N.) Natalie Portman
O.) Octavia Spencer, Omar Epps
P.) Prof. Charles Ogletree
R.) Randy Johnson, Rashida Jones, Reggie Love, Regina King, Rep. Charlie Gonzalez, Rep. Chris Van Hollen, Rep. Jim Clybrun, Rep. Luis Gutierrez, Rep. Raul Grijalva, Rev. Dr. Cynthia L. Hale, Rev. Dr. Howard-John Wesley, Rev. Gerald Durley, Rev. Joseph A. Darby, Rev. Marcia Dyson, Rev. Otis Moss, Jr., Ricky Martin, Rob McElhenny (Always Sunny), Robert Wolf, Roger Altman, Ronnie Chatterji
S.) Samuel L. Jackson, Sara Bareilles, Scarlett Johansson, Sen. Dick Durban, Sen. John Kerry, Sheryl Crow, Shirley Murdock, Simon Rosenberg, Sleigh Bells (Derek Miller and Alexis Krauss), Sophia Bush, Stefanie Brown, Stephen Stills, Stevie Wonder
T.) Taraji P. Henson, Tatyana Ali, The Head and the Heart, Tracee Ellis Ross, Tyler Williams
V.) Valerie Jarrett, Victor Cruz, Vivica A Cox
W.) Will-I-Am
Y.) Yolanda Adams
Z.) Zach Quinto, Zachary Knighton
The broadcast and cable networks will be going all out for coverage of the 2012 presidential election, which now kicks off less than 24 hours from now. Most results shows will ramp up between 6-7 PM ET on Election Day and all seem to be planning for a long night in the presidential race between Barack Obama and Mitt Romney. Here's a rundown of plans:
ABC: "ABC News Your Voice, Your Vote – Election Night Coverage" will originate live from Times Square, with real-time results appearing on Times Square screens. Diane Sawyer and George Stephanopoulos will host beginning with a special edition of "World News with Diane Sawyer" at 6:30 PM ET and continuing until at least 2 AM.
A special edition of Nightline will air at 2:35 AM ET. Team: Jake Tapper, David Muir, Katie Couric, Barbara Walters, Jonathan Karl, Ron Brownstein and Cokie Roberts, Josh Elliott, Amy Robach, Cecilia Vega, Sharyn Alfonsi, David Wright, Ron Claiborne, Univision anchors Jorge Ramos and Maria Elena Salinas, Deborah Roberts, David Kerley, George Will, Matthew Dowd, Donna Brazile, Nicolle Wallace, Pierre Thomas, Gary Langer, Martha Raddatz, Brian Ross, Richard Besser, Bianna Golodryga
CBS: Scott Pelley will lead seven hours of division-wide, multi-platform original reporting from 7 PM-2 AM ET.
The team will use eight studios and three state-of-the-art control rooms. CBS Radio News will deliver at least six hours of live anchored coverage, updates, special reports and online feeds of the results. Team: Bob Schieffer, Norah O'Donnell, John Dickerson, Byron Pitts, Anthony Mason, Jan Crawford, Nancy Cordes, Dean Reynolds, Anna Werner, Elaine Quijano, Wyatt Andrews
NBC: "Decision 2012" begins at 7 PM ET, with Rockefeller Plaza transformed into a TV studio as well as an Oval Office and White House Briefing Room set. NBC Nightly News anchor Brian Williams will host from "Democracy Square".
Team: David Gregory, Savannah Guthrie, Chuck Todd, Peter Williams, Andrea Mitchell, Tamron Hall, Lester Holt,Tom Brokaw, Peter Hart, Bill McIntuff, Kristen Walker, Peter Alexander
Fox: Fox News Channel's Shepard Smith will anchor live coverage beginning at 7 PM ET. Team: Ed Rollins, Mary Anne Marsh, A.B. Stoddard, Martha MacCallum, Bill Hemmer, Carl Cameron, Ed Henry, Alicia Acuna, Shannon Bream, Steve Brown, Mike Emanuel, Steve Harrigan, Molly Line, Doug McKelway, Dan Springer, Eric Shawn
The News Corp CEO, a vigorous supporter of the GOP presidential candidate, seems resigned to the prospect that his guy will lose. "Everybody searching for any scrap of news about election tomorrow," he just tweeted. While there are "plenty of straws to grasp for Romney, probably not enough."
That's a shift from yesterday when he tweeted: "Seems slight edge to [President] Obama, but Romney seeing small late surge.
Many state polls look unreliable." He also wrote that there's "Contradictory evidence from all over. Impossible for any sensible person to make confident prediction."
On Saturday the exec whose company includes the Wall Street Journal, the New York Post and Fox News lamented that "Monolithic media will spend next three days pushing Obama, but final outcome far from certain.
Early voting patterns look very different." He also observed: "Just look at European welfare state and broken countries. Some want US to follow, others not. Why can't we debate civilly?"
You know that things are really bad when a company withdraws its financial guidance, and then abruptly ends a quarterly earnings call after about 12 minutes without taking analysts' questions. But that's what just happened with THQ after it disclosed that it needs more cash to remain competitive.
That point was underscored by its fiscal Q2 financial report that showed a 23.3% drop in revenues, to $91.8M, vs the period last year (not including deferred net revenues).
The video game maker pushed back the release date for its much-anticipated South Park: The Stick Of Truth which was due on March 5, 2013.
"We have been working closely with the co-creators of South Park, Matt Stone and Trey Parker, to make sure all of the game's content performs to the high standards of the TV show, and this takes time," THQ President Jason Rubin says.
The company also delayed Company Of Heroes 2 and Metro: Last Light. THQ says that these changes "will likely create a need for additional capital" and that it has hired Centerview Partners to help it come up with options to handle payments on its $100M in 5% convertible senior notes due August 2014. That usually means the company's for sale, although THQ says there's no guarantee that it will come up with anything.
International Academy of Television Arts & Sciences president and CEO Bruce Paisner says Regis Philbin brings "great credibility" to the 40th annual event, set for November 19 in New York. Philbin stepped away as co-host of Live With Regis And Kelly in November 2011 and is touring the country with the paperback edition of his book How I Got This Way.
The International Academy will present Emmys in nine categories. Alan Alda and Norman Lear will be honored with special Founders Awards. Glee creator Ryan Murphy will receive the 2012 International Emmy Founders Award and Korean Broadcasting System President and CEO Kim In-Kyu, will receive the International Emmy Directorate Award.
The reality production company behind CBS's Undercover Boss has named Aaron Saidman SVP of Development & Current Programming. Saidman will oversee all development and current series, including the second season of AMC's The Pitch, A&E's Be The Boss, which premieres this December, and Lifetime's Supermarket Superstar, the Stacy Keibler hosted competition show which begins shooting next year. Saidmen joined the company as a VP in 2010.
Wally Parks was upped to SVP Production and and Susan Janis-Mashayekhi has formally joined the company as VP Production after several seasons overseeing Undercover Boss. They will both report to EVP Amy Hussey.
National Geographic Channel's broadcast of Seal Team Six: The Raid On Osama Bin Laden drew an average of 2.7 million viewers last night, making it the network's top show of 2012 and its sixth-highest-rated broadcast in its six-year history.
The two-hour special presentation directed by John Stockwell scored a 1.4 in the adults 25-54 demo, more than four times Nat Geo's Sunday average (the average viewership in the demo last night was 1.27 million). It is the highest-rated telecast on the network since the premiere of George W. Bush: The 9/11 Interview in August 2011. Nat Geo's highest-rated show in the demo was Inside 9/11: Zero Hour, which garnered a 2.88 rating when it aired in August 2005.
The Weinstein Company movie is being made available as an unedited version on Netflix today featuring a news montage of statements by Mitt Romney, Joe Biden, Hilary Clinton and others; Seal Team Six encores on Nat Geo on Friday at 8 PM ET.
Amazon is moving closer to launching its first original series. Amazon Studios, the content development division of the online retailer, is finalizing a deal for a pilot order to Browsers, a single-camera comedy from writer David Javerbaum and 3 Arts Entertainment.
The project revolves around four interns who work at a Huffington Post-type website. Javerbaum is executive producing with 3 Arts' David Miner, with filming eyed for a January start.
Amazon Studios signaled an entry into original series in May when it announced its plans to develop comedy and childrens programming.
The company's comedy development efforts have been spearheaded by Joe Lewis who previously worked as a development/production executive at 20th Century Fox TV and Comedy Central.
During Lewis' stint at Comedy Central, Javerbaum worked on the network's The Daily Show where he rose to executive producer.
This builds on Nexstar's effort to bulk up with help from its election year windfall from sales of political ads.
In today's deals, the company paid Newport Television $35.4M for a CBS affiliate in Fresno, an NBC/CW station in Bakersfield, and a low-powered Telemundo affiliate there. In addition, Nexstar agreed to pay Mission broadcasting $17.1M for the Fox and ABC affiliates in Burlington, Vt.
The FCC has to bless the arrangements before they can take place; Nexstar expects them to close early next year. They follow the company's deal in July to buy 12 stations in markets including Salt Lake city, Little Rock, and Memphis.
EXCLUSIVE: ABC is feeling the force. No, the network is not already working on a Star Wars series following last weeks Disney acquisition of Lucasfilm.
In a competitive situation, ABC has snagged Feel The Force, an ensemble cop comedy written and executive produced by Bill Lawrence, with a put pilot commitment plus penalty.
The single-camera project is based on the 2006 BBC2 comedy starring Michelle Gomez (watch the trailer below), created by Georgia Pritchett and produced by Catherine Bailey Limited.
It centers on two rookie female cops who struggle to prove themselves in a male-dominated police force.
Warner Bros TV and Lawrence's studio-based Doozer are producing, with Doozer's Lawrence and Jeff Inglod executive producing.
This marks Lawrence's return to ABC where all of his previous series have run. That includes his first show, Spin City, which he co-created; Scrubs, which ended its run on ABC; and his latest comedy, Cougar Town, which aired on ABC for three seasons before moving to TBS
CBS has picked freshman drama Elementary to follow the network's broadcast of the Super Bowl on February 3.
The networks occasionally opt to launch new series behind the Super Bowl, like Fox did with American Dad (in tandem with The Simpsons) in 2005, and CBS premiered Undercover Boss the last time it had the Super Bowl in 2010.
But for the most part, the rule of thumb has been to put a young show on an upswing behind the big game to help it get to the next level. Recent examples include CBS' Criminal Minds, ABC's Grey's Anatomy, Fox's Glee and NBC's The Voice. (Overall, reality series have fared better than scripted following American TV's highest-rated yearly telecast.)
EXCLUSIVE: Imogen Poots has signed onto the cast of Are We Officially Dating? She will star opposite Zac Efron in the romantic comedy about three male friends in New York City who make a pledge to stay single just as each of them starts to fall in love.
Tom Gormican is directing from a script he wrote QED International is handling international sales at AFM this year.
Treehouse Pictures' Justin Nappi and Kevin Turen are producing with Scott Aversano and Andrew O'Connor. Bill Block, John Friedberg, Michael Simkin, Jason Barrett and Manu Gargi are executive producing.
Poots, who recently joined DreamWorks Studios' Need For Speed, is repped by CAA.
The American Film Market saw 5% more buying companies in attendance this year and 6% more buyers, organizers at the Independent Film & Television Alliance said today.
The market, which has more than 7,749 people to date attend the Santa Monica confab, wraps Wednesday.
A total of 753 buying companies from more than 60 countries were present. Regions with more buyers at the market included Asia (up 14%) and Latin/South America (up 17%). Korea (26%) and Japan (23%) had the largest increase among countries.
Attendance among exhibitor-affiliated participants (executives, producers, talent and guests) reached 3,069. "The healthy growth in new buying companies is the most important metric for us," AFM managing director Jonathan Wolf said.
"It shows that the global marketplace for independent film is continuing to expand."…
New York, NY– The Writers Guild of America, East (WGAE) has announced a partnership with The Black List (www.blcklst.com), which produces an annual list of the best unproduced screenplays in Hollywood, as chosen by industry executives.
The partnership allows Guild members to receive a discount to host their work on the new Black List subscription site, which includes access to the annual Black List, the site's new 'real-time portal' as well as the opportunity to register and protect their screenplays with the click of a button.
WGAE and The Black List will launch an online initiative to publicize Guild agreements and services and Guild representatives will contribute to the site's blog: http://gointothestory.blcklst.com/.
The initiative will include information throughout The Black List site about Guild programs, contracts, membership and registration as well as links to WGAE.org,
OnWritingOnline.org, and the WGAE iTunesU page.
WGAE members will also receive a 20% discount to have The Black List's stable of professional script readers review and offer notes on their work
CAA has signed Australian actor Callan McAuliffe, who stars as the young Jay Gatsby in the Baz Luhrmann-directed The Great Gatsby out on May 10, 2013. Leonardo DiCaprio portrays the adult Gatsby in the 3D adaptation of F. Scott Fitzgerald's 1925 novel.
McAuliffe stared in 2011's sci-fi thriller I Am Number Four and in Rob Reiner's romcom Flipped in 2010. He appears with Anthony LaPaglia and Rachel Griffiths in Robert Connolly's Underground, which played at this year's Toronto Film Festival. McAuliffe will continue to be repped by Alchemy Entertainment and attorney Patti Felker.
LOS ANGELES, NOV. 5 — Three legendary Production Designers – Preston Ames, Richard MacDonald, and Edward S. Stephenson – will be inducted into the Art Directors Guild (ADG) Hall of Fame at the Guild's 17th Annual Excellence in Production Design Awards Presented by BMW ceremony to be held at the Beverly Hilton Hotel on February 2, 2013, as announced today by ADG President Thomas A. Walsh and Awards Producers Greg Grande and Raf Lydon.
Veteran comedy writer-producer Jim ODoherty has signed with Paradigm. O'Doherty is the creator/executive producer of Disney XD's martial arts comedy Kickin It, which was just renewed for a third season.
He also recently created/exec produced Nickelodeon's musical comedy How To Rock based on Meg Haston's book. O'Doherty's series credits also include Fox's Grounded For Life and NBC's 3rd Rock From The Sun and The Tracy Morgan Show. He was previously with WME.
Boy-centric Disney XD has ordered a third season of its top-rated comedy series Kickin It, which will start production in January. Created by comedy veteran Jim O'Doherty and executive produced by J.J.
Wall and O'Doherty, Kickin' It follows the crew of lovable misfits at the Bobby Wasabi Martial Arts Academy.
The series stars Jason Earles, black-belt martial artist Leo Howard, Mateo Arias, Dylan Riley Snyder and Olivia Holt.
"What did television ever do to you?"
"It destroyed the electoral process."
During Christmas of '97, tamagotchis were the season's hot toys, Bill Clinton was in office, and a movie about a president involved in a sex scandal during an election was in theaters.
Wag the Dog features Robert De Niro and Dustin Hoffman at the top of their game and boasts an Oscar-nominated screenplay from David Mamet, but is that enough to make it timeless?
The Verdict: No. Oddly enough, this pitch-perfect dark satire doesn't hold up.
During an election season, a movie about manipulating a presidential race seems like it would feel timely and be a good choice for a rental.
Even though all the elements of Wag the Dog are spot on, it just doesn't work in 2012. Really though, any movie about a fake war with terrorists being manufactured by a Hollywood big-wig in order to win votes for a sitting president wouldn't sit right in the midst of an on-going and very real war on terror.
Here at BSMCH we've developed a formula to determine the Longevity Index for a movie and it (pseudo-) scientifically finds whether or not a movie will hold up after several years. Here's how Wag the Dog scored:
P=8 This has a solid plot with plenty of twists and turns as a team attempts to divert attention away from a sex scandal involving the President of the United States and a teenage girl.
S=10 The script is air tight with great
dialogue and believable characters.
D=5 This movie is dated, but more for it's overlying sensibility rather than specific design elements.
T=10 Wag the Dog is a movie that really only could have been made between 1996 and 2001. It is so firmly of that period that, while it might not have felt terribly topical at the time, it doesn't translate to a different era.
U=68 While manipulation and deception are ideas and that can be universally understood, the life and worldview of an A-list Hollywood producer isn't going to be accessible or interesting to every viewer.
Wag the Dog's LI = 82
All the elements of a great movie are here, and it is sure to be a worthwhile watch for anyone studying acting or dramatic writing, but for the average viewer, this flick has passed it's expiration date.
Perhaps forty years from now it will be revered as a classic, but it doesn't hold up during this election cycle.
On the verge of going to trial, Paramount Pictures and director John Singleton have reached a settlement to end litigation stemming from a 2005 deal for the breakout hit Hustle & Flow. Singleton sued Paramount and MTV Films in October 2011, originally claiming he was owed at least $20 million for alleged breaches of contract and fraud.
According to the lawsuit, Singleton and his Crunk Pictures took Hustle & Flow to the 2005 Sundance Film Festival, where it became a breakout hit.
Several offers were made on the film, but Singleton said he chose Paramount because of a promise to "put" two additional features.
Hustle & Flow, directed by Craig Brewer, was a success in the market, earning $75 million in gross receipts, according to the legal papers, and winning an Oscar for best song.
But Singleton says Paramount backed out of the other two films, including one that what was to be a Spike Lee-directed concert film featuring Tracy Morgan.
Paramount asserted the right to do so because the films allegedly weren't delivered by a certain deadline.
On the road to trial, Paramount scored some key wins, knocking out the fraud claim because Singleton couldn't show that the studio hadn't intentionally deceived him.
Last month, Paramount also got rid of a rescission claim, because a waiver in the contract expressly limited Singleton's right to pursue equitable remedies.
At the time, Paramount's lawyers believed that its liability for any trial loss would be a few hundred thousand dollars for director and producer fees for the two unproduced films.
Marty Singer, representing Singleton, still believed he could attain more.
But at a Friday hearing, the parties informed the court that the matter had been settled. Terms of the deal haven't been made public.
Even in the waning moments of a heated, tightly fought presidential election, Jay-Z can make headlines with a rhyme.
While performing alongside Bruce Springsteen at a rally with President Obama in Columbus, Ohio, on Monday, the rapper made a little alteration in one of his most iconic tracks, substituting Mitt Romney's first name where he would usually say the word "bitch" in the song "99 Problems."
He also changed the word "girl" for "world," and so he verse became, "If you're having world problems, I feel bad for you son, I got 99 problems but Mitt ain't one."
Jay was quick to caution that he hadn't gotten clearance from the Obama campaign to make the switch, and joked that he'd be taken down by Secret Service at any moment.
But there was no black suit intervention, and the pride of Brooklyn launched into the rest of the song -- censoring himself where the various curse words would usually appear.
Live Nation Entertainment on Monday posted $58 million in third-quarter net income attributable to shareholders, up 12 percent over the same frame a year ago.
Revenue rose 10 percent to $2 billion.
Concerts, which is the company's largest segment, saw a 12 percent climb in revenue to $1.4 billion while ticketing was up 4 percent to $346 million.
Artist Nation was up 5 percent to $128 million and sponsorship and advertising rose 11 percent to $96 million.
Live Nation said it sold 19.4 million concert tickets during the quarter, up 6 percent from a year ago. It sold 6.7 million tickets to sporting events, up 4 percent, and 3.7 million tickets to family events, up 22 percent. Tickets to "arts and theater" events, though, dropped 16 percent to 4.5 million and the "other" category fell 1 percent to 1.8 million.
In all, the company sold 36 million tickets to various events, up 3 percent year-over-over during the third quarter.
"For the quarter, global concert attendance is up 2 percent and ticket sales for Ticketmaster increased 3 percent," said CEO Michael Rapino. "We expect to have continued growth in ticket sales in the fourth quarter, as compared to last year, for both concerts and Ticketmaster."
Shares of Live Nation fell fractionally on Monday to $9.17 and were unchanged after the closing bell.
