Toth exits CAA for Quibi; Crackle sold by Sony; Entertainment Partners sold to TPG Capital.
A former Creative Artists Agency agent was tapped to join Jeffrey Katzenberg’s short-form streaming venture Quibi. Jim Toth was at CAA for nearly two decades and will lead Quibi’s content acquisition and talent development, according to the Hollywood Reporter. Quibi’s mobile app will launch in spring 2020. The company has raised $1 billion in venture funding.
Culver City-based movie streaming firm Crackle Inc. is no longer owned by Sony Pictures Entertainment Inc. Variety reports Crackle was sold to Chicken Soup for the Soul Entertainment (CSS Entertainment) for an undisclosed sum. CSS Entertainment will rebrand Crackle as Crackle Plus, a catch-all name for a streaming service that encompass streaming channel Popcornflix and other online video business. Former head of Crackle and Sony’s Chief Digital Officer Eric Berger is expected to leave the company after the deal is finalized.
Private investment firm TPG Capital, which holds a majority stake in Creative Artists Agency, acquired Burbank-based payroll management firm Entertainment Partners on March 26 – just as the CAA and Writers Guild of America ramp up debates over packaging deals and contracts. Terms of the deal were not disclosed. The Wrap reports the acquisition will close in second quarter 2019.
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Silicon Beach Report May 16: Quibi Seeks Additional $1 Billion
- Silicon Beach Report June 4: Crackle Venture Selects Leadership Team
- Silicon Beach Report April 2: Lucid Sight Takes Home $6 Million
- Silicon Beach Report March 19: Backstage Capital Backtracks
- Silicon Beach Report March 11: Stamps.com Announces $60 Million Stock Repurchase Plan
- Silicon Beach Report April 1: New Hires at Tinder and Quibi
- Silicon Beach Report March 12: Pritzker Group Leads Livly Investment
- Silicon Beach Report June 10: Pluto TV Pushes into Latino Markets