MEDIA & ENTERTAINMENT

Recent and archived news stories on: media companies, newspapers, television, digital media, entertainment industry, public relations firms, artist representation, agencies

Netflix Acquires Iconic Egyptian Theatre

Netflix completes its long-pending purchase of Hollywood's legendary Egyptian Theatre from American Cinematheque.

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Advertisers Question Quibi Payments

More trouble is surfacing for short-form streaming service Quibi, this time from major advertisers.

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Live Nation Credit Is Downgraded

Company’s planned $800 million debt issuance gets junk level status

S&P Global Inc. has downgraded Live Nation Entertainment Inc.’s credit rating to junk bond status with a negative outlook and rated the company’s proposed $800 million issuance of senior secured notes at junk level.

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Junk Rating for WME Talent Agency Loan

Impact of virus cited for downgrade

Moody’s Investors Service Inc. has downgraded Beverly Hills-based William Morris Endeavor Entertainment’s new term loan further in the junk bond range.

Quibi Reaches Out to Homebound Audiences

Startup expands with software for TV

Smartphone-only streaming service Quibi plans to make its short-form content available for TV viewing beginning the last week in May, the company has confirmed.

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Streaming Services Make the Best of a Bad Thing

Both newcomers and established services see a surge in viewers

No one was expecting the coronavirus outbreak when some of Hollywood’s biggest companies decided 2020 would be a good time to launch a host of streaming offerings.

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Hollywood Bowl, Ford Theatres Cancel Seasons

The Los Angeles Philharmonic Association has canceled all 2020 summer performances at the Hollywood Bowl and the Ford Theatres due to the Covid-19 crisis.

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Disney Results Reflect Virus Impact

Company suffers $1 billion hit at parks as earnings tumble 63%

With its theme parks shuttered, its movie releases altered and its sports programming scrambled by the Covid-19 crisis, Walt Disney Co. saw a stark drop in its latest quarterly earnings.

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Activision Levels Up Full-Year Outlook

Latest ‘Call of Duty’ release drives company’s strong quarterly results

Santa Monica-based video game publisher Activision Blizzard Inc. has raised its full-year outlook after beating revenue expectations and reporting net income growth in the first quarter ended March 31.

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Ratings Firms Hit CAA Over Debt

Agency suffers downgrades

Creative Artists Agency has been downgraded in the junk bond range by two credit ratings agencies, with each saying the pandemic has highlighted CAA’s high debt level.

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Endeavor’s WME IMG Takes Another Credit Hit

Moody’s downgrades agency

Moody’s Investors Service downgraded its outlook for Beverly Hills-based WME IMG Holdings to negative from stable and lowered the company’s credit rating.

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Saudi Fund Acquires Live Nation Stake

Government investment vehicle buys $500M in common stock

Saudi Arabia’s sovereign wealth fund has purchased 5.7% of Live Nation Entertainment Inc.’s common stock, the fund disclosed April 27 in a filing with the Securities and Exchange Commission.

Scopely Picks Up PierPlay

Mobile publisher acquires development studio

Scopely Inc., a Culver City-based mobile game publisher and developer, announced April 28 that it has acquired PierPlay, a game development studio based in Culver City.

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King & Spalding Hires 12 Partners From Boies Schiller

Arrivals boost firm’s media, entertainment practice

The downtown office of law firm King & Spalding has lured away 12 partners from Boies Schiller Flexner, striking a blow to the rival firm’s major media company practice.

Tok of the Town

A captive and voracious audience powers mobile app TikTok to new heights

If there’s one business that has enjoyed a substantial boost from the lockdown prompted by Covid-19, it’s short-form video app TikTok.

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