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Erik Hayden

Executive Editor, Business

More from Erik Hayden

Endeavor Merges Hospitality Firm On Location With IMG’s Events Division

Endeavor, the publicly traded representation and entertainment powerhouse, is merging the events division of talent agency IMG with its sports and music ticketing and hospitality firm On Location, the company said on Wednesday. Top executives at On Location will run the combined firm. Paul Caine, a former exec at Bloomberg and advertising platform Magnite who […]

AMC Theatres’ Shareholders Vote Against CEO Adam Aron’s $18.9M Pay Package

In a symbolic move, shareholders of AMC Theatres voted against the pay packages of company officials, including CEO Adam Aron, the exhibition giant disclosed in a filing with the Securities and Exchange Commission on Friday. In a non-binding tally, stock holders with 86,896,550 in shares voted against the compensation paid to AMC’s executive officers, while […]

STX Sold to Investor Group Led by Najafi Companies

STX Entertainment, the Robert Simonds-founded film and TV studio that once hoped to compete with Hollywood majors by focusing on mid-budget, talent-driven projects, has found another buyer in an investor consortium led by Najafi Companies. Investment firms AS Birch Grove LP and 777 Partners joined in financing the deal, which was unveiled Friday. STX’s leadership […]

Hedge Fund Titan Bill Ackman Sells All Netflix Stock as Billion-Dollar Bet Flops

Bill Ackman, the Pershing Square Capital Management founder who less than three months ago bought $1.1 billion in Netflix stock, disclosed on Wednesday that he has sold his entire stake in the company at a major loss. “While we have a high regard for Netflix’s management and the remarkable company they have built, in light […]

David Zaslav Tells Warner Bros. Discovery Staff to “Be Patient With Us” Amid Integration

Days after closing a megadeal that brought together the Warner Bros. entertainment empire with the unscripted powerhouse of Discovery, mogul David Zaslav outlined his vision for the combined Hollywood giant in a Thursday town hall with staff in Burbank. In conversation with Oprah Winfrey, Zaslav walked through how the merger went from a call with […]

Ann Sarnoff Exiting Warner Bros. When Discovery Deal Closes

Ann Sarnoff, the chair and CEO of WarnerMedia Studios and Networks Group, is exiting the company as AT&T spins off its entertainment division to Discovery in a $43 billion megamerger. “I want to thank Ann for all of her leadership during a transformational period for the company and our industry,” said David Zaslav, incoming CEO […]

Imax Aims to Get Back in the Black

After the theatrical movie industry endured what Imax CEO Richard Gelfond called an “enormous stress test” during the COVID-19 era, the giant-screen exhibitor aims to move back into the black. October was kind to Imax: 22.5 percent of Dune’s $41 million domestic weekend debut and 12.5 percent of No Time to Die’s $55 million opening […]

CAA to Buy ICM Partners in Major Agency Deal

Creative Artists Agency is acquiring its rival ICM Partners in a blockbuster deal that will consolidate the ranks of major Hollywood agencies as the representation industry undergoes a pandemic-era business shift. The companies, led by CAA’s Bryan Lourd, Kevin Huvane and Richard Lovett and ICM’s Chris Silbermann, did not disclose sale price and said the […]

MGM Sold to Amazon for $8.45 Billion in Blockbuster Deal

In a landmark mega deal, Amazon is acquiring MGM Holdings — whose storied studio boasts one of the largest film and TV libraries — in a bid to turbocharge its Prime membership offering to customers and potentially mine intellectual property of franchises such as James Bond and Rocky. The deal, pending regulatory approval, values the studio […]

Streaming Giants’ Next Worry: A Subscriber Churn Uptick

Netflix, Disney+ and others gained customers amid COVID-19 lockdowns. But as consumers increasingly leave home, executives’ focus may turn to customer retention.

Endeavor Files to Go Public (Again)

One big difference this time around: The Beverly Hills-based entertainment giant, which disclosed a net income loss of $625 million for last year, isn't in a scorched-earth fight with Hollywood screenwriters.

Paradigm Agrees to Sell Music Division to Wasserman

The talent firm's roster reps Ed Sheeran, Billie Eilish, Coldplay, Kacey Musgraves, Imagine Dragons and many other top-selling artists.