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Hollywood Buzz: November 2024

Writer's picture: Natalie LifsonNatalie Lifson
Dec 17, 2024

By Natalie Lifson, Agent Trainee at Buchwald and your co-Editor-in-Chief at THA



News

  • Freevee To Shut Down As Amazon Consolidates Subscription & Free Content Under Prime Video -Deadline, 11/12

  • BAFTA Can Strip Future Winners of Awards If Convicted of Crimes -THR, 11/13

  • Disney to Pay $43 Million to Settle Class Action Over Gender Pay Gap -Variety, 11/25

  • Lionsgate, Starz Take Next Step to Formally Separate -THR, 11/27

  • U.S. Added 227,000 Jobs In November As Employment Bounced Back; Figures Show Slight Gains In Movie And Music Business -Deadline, 12/6


Deals


  • Fox Entertainment & Hulu Extend Major Streaming Deal With Pact Worth North Of $1.5B -Deadline, 11/21

  • Fox Entertainment & Hulu Extend Major Streaming Deal With Pact Worth North Of $1.5B -Deadline, 11/21

  • Production/management company Sugar23 and Fifth Season are partnering for a venture Sugar23 founder Michael Sugar labeled “groundbreaking,” enabling content sponsors to be more directly involved in the creative process. -Cynopsis, 12/3


Mergers & Acquisitions

  • AMC Networks Acquires Full Control of BBC America for $42 Million -Variety, 11/08

  • The Onion Buys Infowars in Bankruptcy Auction. The Onion plans to relaunch Infowars in January 2025 as a parody of itself that mocks “weird internet personalities.” -Deadline, 11/14

  • Gersh Acquires Sports & Entertainment Agency You First, Doubling In Size -Deadline, 12/3


Layoffs: iHeartMedia, CAA, The CW, Lionsgate, Condé Nast


Restructures

  • WBD

  • Comcast

  • Lionsgate + Starz


WBD Restructure

Warner Bros. Discovery has created a new corporate structure, splitting its linear and streaming content assets into two separate and distinct operating divisions. WBD’s Global Linear Networks division will include its linear networks like TBS, TNT and HLN; while its Streaming & Studios division will house the Warner Bros. studio, premium service HBO and streaming service Max. According to WBD, Global Linear Networks will concentrate on increasing profits and free cash flow to pay down debt while the streaming unit will center on driving growth and strong returns on continued investment. The new structure also is also expected to widen WBD’s options in pursuing “value creation opportunities,” which could mean acquisitions or combinations. -Cynopsis, 12/13

  • Warner Bros. Discovery Takes Step Toward Separating TV Channels From Studios Business -THR, 12/12

  • Warner Bros. Discovery Restructures in Seeming Bid to Fuel Future Deals -Variety, 12/12

  • Warner Bros. Discovery Creates New Corporate Structure, Separating Linear Networks From Streaming & Studios -Deadline, 12/12


Comcast Split

  • Comcast Plans Massive Cable Spin-Off, Separating USA, MSNBC and More From NBC, Theme Parks -Variety, 11/19

  • Comcast Spinoff Of Cable Networks Leaves Questions Of How A Split Between MSNBC And NBC News Will Work -Deadline, 11/20

  • MSNBC Faces Potential for Big Changes in Comcast Cable Spin-Off -Variety, 11/20

  • Comcast Cuts the Cord: 5 Burning Questions About M&A, MSNBC and More -Variety, 11/20

  • Why NBCUniversal Is Holding On to Bravo as It Spins Off the Rest of Its Cable Nets -Variety, 11/20

  • The Streaming Divide: How NBCU’s Entertainment Networks Ended Up On Different Sides In Comcast Spinoff After Years Of Integration -Deadline, 11/21


Unions


General

  • Intimacy Coordinators Unanimously Vote to Join SAG-AFTRA -THR, 11/12

  • SAG-AFTRA Members Sue Union Health Plan Over Data Breach -THR, 12/10

  • Writers Guild Calls on Studios to Take “Immediate Legal Action” Against AI Companies -THR, 12/12


Animation

  • As Negotiations Drag On, Animation Guild Members March on DreamWorks -THR, 11/12

  • The Animation Guild Reaches Tentative Deal With Studios -THR, 11/25

  • Animation Guild Faces Discontent on Artificial Intelligence Terms in New Contract -Variety, 12/4

  • Two Animation Guild Leaders Oppose Contract Over AI Provisions: ‘This Is the Time to Fight’ -Variety, 12/10

  • Animation Guild Executive Board Defends Deal Terms As Some Members Criticize Contract. The board released the statement as some negotiating committee members have expressed that they are voting "no" on the tentative deal. -THR, 12/11


PBS

  • Writers Guild East Members Vote to Authorize a Strike Against PBS -THR, 11/18

  • WGA Puts Pressure On PBS Management Ahead Of Potential Strike With Solidarity Pledge From 200+ Animation Writers -Deadline, 11/21

  • WGA Reaches Tentative Deal With PBS, Avoiding Impending Work Stoppage -Deadline, 11/22


Disputes

  • Disney Settles Multi-Million Dollar Pay Equity Class Action As 2025 Trial Nears -Deadline, 11/12

  • Nielsen CEO Tells Clients Paramount Seeks ‘Nearly 50%’ Price Cut in Weeks-Long Measurement Battle -Variety, 11/14

    • Paramount is demanding a 50% cut in the price for Nielsen’s measurement services, wrote Nielsen CEO Karthik Rao to media agency and advertising executives, an amount that makes it “unsustainable to provide the support and quality that all Nielsen clients rely upon.” Paramount stopped using Nielsen as its main measurement currency at the end of September, citing “substantial price increases.” -Cynopsis, 11/15

  • WBD x NBA

    • It’s Official: Warner Bros. Discovery & NBA Unveil Multi-Platform, Multi-Territory Pact, Ending Legal Battle -Deadline, 11/18

  • Netflix Sued Over Alleged Backroom Deal With Meta to Stand Down on Streaming -THR, 11/19



Paramount x Skydance

  • “Paramount Global non-executive chair Shari Redstone will reportedly leave the company’s board of directors following completion of its $8 billion merger with Skydance Media. An SEC filing reveals Skydance CEO David Ellison will be board chairman and Jeff Shell, named as president of the new company, will be given a board seat. Skydance’s deal to acquire Redstone’s National Amusements holding company is slated to close in the first half of 2025.” -Cynopsis, 11/06

  • Is Paramount still looking for a strategic partner for Paramount+? “We feel good about our position and our ability to remain a standalone,” said Paramount Co-CEO Chris McCarthy on an earnings call. That said, “You can absolutely count on us being opportunistic,” McCarthy added. “We’re looking at partnerships from a strategic lens to drive more value and you can be sure that in deciding that we’ll take key factors into consideration.” -Cynopsis, 11/11

  • Major Paramount Shareholder Hints at Potential Lawsuit Challenging Skydance Deal -THR, 11/12

  • Incoming FCC Chairman Brendan Carr Says ’60 Minutes’ Complaint “Likely To Arise” As Part Of Agency Review Of Skydance-Paramount Merger -Deadline, 11/19

  • Paramount Global Sets $1 Million Payouts To HR & Government Affairs Heads When Skydance Deal Closes -Deadline, 11/21

  • Paramount Global’s Near-Term Credit Outlook Is “Not Going To Change Just Because They’re Being Bought By Skydance,” S&P Analyst Says -Deadline, 12/9



New Initiatives

  • “Production company SuperSpecial has launched creative accelerator The Fellowship, a program for under-represented writers, in association with fantasy universe platform Loot. The effort will offer $100,000 in grants to help five writers fund fantasy novellas that could potentially be developed into series or movies by SuperSpecial.” -Cynopsis, 11/13

  • Paradigm Launches New Division The Sports Group -Deadline, 11/13

  • Spotify’s New Pivot: We’re a Big Video Creator Platform Now, Too -THR, 11/13

  • Disney & Reliance Complete $8.5B Deal To Form Indian Entertainment Giant -Deadline, 11/14

  • Onyx Collective and The Black List Launch Initiative to Identify Unpublished Manuscript for Book-to-Film/TV Option -Variety, 12/3

  • POC Content Accelerator Rideback Rise Sets 2025 Cohort -Deadline, 12/6

  • The Black List Launches Adaptation List In 20th Anniversary Celebration; 61 Novels Primed For Film & TV Projects -Deadline, 12/11

  • CNBC Plans Q1 Launch for Targeted Streaming Service -Variety, 12/11



Interesting Articles

  • “Netflix Lost Margot Robbie’s ‘Wuthering Heights’ to Warner Bros. Despite $150 Million Offer — Has the Streamer Lost Its Dealmaking Mojo?” -Variety, 11/06

  • Struggling Entertainment Workers Are Fleeing Hollywood — but Some Employers Balk at Showbiz Backgrounds -THR, 11/13

  • How Does BAFTA Choose Its Breakthroughs? A Glimpse Into Finding Tomorrow’s Top Talent -THR, 11/21




AI

  • “OpenAI CEO Sam Altman Says “New Economic Models” Needed for Creators in AI World” -THR, 12/4

  • “For Hollywood, AI Is a Double-Edged Sword” -THR, 12/14 

  • “In Major AI Deal, YouTube Teams With CAA to Give Celebrities Control Over Likenesses.” -THR, 12/17

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