MEDIA & ENTERTAINMENT
Scopely Acquires Developer PierPlay
Growing 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.
Saudi Fund Takes $500 Million Stake in Live Nation
Fund acquires 12 million shares through common stock purchase.
Rebel Girls Turns the Page
Small publisher finds best-selling formula
A rebel’s approach to the rules of book publishing seems to be working for Elena Favilli, founder and chief executive of Rebel Girls, a Santa Monica-based independent publishing house.
Royalties Reign for Create
Service has earned $100 million for artists
Jonathan Strauss and Alexandre Williams founded Create Music Group to change how royalties are paid to artists and musicians.
Disney Leads Pack of Industry Cutbacks
Production companies, talent agencies also turn to downsizing
Walt Disney Co.’s recent announcement that it will stop paying more than 100,000 employees represents the latest blow to entertainment industry workers in a continuing wave of cuts, furloughs and layoffs spawned by the Covid-19 crisis.
FaZe Clan Raises $40 Million
Iovine, Ntwrk lead Series A funding round
FaZe Clan Inc., a Hollywood-based esports and entertainment company, announced it has raised $40 million in Series A funding.
UMG Hits $1.9 Billion Mark
Subscriptions, streaming lift music giant’s earnings
Santa Monica-based Universal Music Group reported a strong financial performance for the first three months of this year, appearing to be largely unscathed by the effects of the coronavirus pandemic.
Covid-19 Shutdowns Slow Film and TV Production
On-location filming in greater Los Angeles is down more than 18% so far in 2020 and continues to fall as a result of the coronavirus pandemic, according a report released April 23 by FilmLA.
HBO Max Sets New Launch Date
AT&T’s WarnerMedia announced a May 27 launch date for its new streaming service HBO Max.
Live Nation to Cut Costs by $500 Million
Promoter also secures $120 million revolving credit facility loan
Live Nation Entertainment Inc. has taken significant steps to boost its financial condition.
Wooden to Depart Tourism Board
CEO will retire at the end of June
Ernest Wooden Jr. will retire at the end of June as president and chief executive of the Los Angeles Tourism and Convention Board.
S&P Slashes Rating for Endeavor
Debt enters junk bond territory
S&P Global has dropped its rating for Endeavor Operating Co. and Endeavor’s subsidiary, WME IMG Holdings, to the middle of the junk bond range and called into question the firm’s future viability.
Former Echo Fox Investor Launches Gaming Network
Venture capitalist Stratton Sclavos has launched Players Ntwrk, a digital gaming and entertainment network operated by Vision Esports Inc., a company he created and privately funded.
S&P Slashes Endeavor’s Credit Rating
Company’s debt hits junk bond level
S&P Global has dropped its rating for Endeavor Operating Co. and Endeavor’s subsidiary, WME IMG Holding, to the middle of the junk bond range and called into question the firm’s future viability.
Peacock Attracts Top Advertisers Ahead of Rollout
NBCUniversal’s new Peacock streaming service has landed marquis advertisers Verizon, Subaru, L’Oreal, Molson Coors and Capital One ahead of its April 15 rollout.
