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.

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Saudi Fund Takes $500 Million Stake in Live Nation

Fund acquires 12 million shares through common stock purchase.

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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.

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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.

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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.

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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.

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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.

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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.

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HBO Max Sets New Launch Date

AT&T’s WarnerMedia announced a May 27 launch date for its new streaming service HBO Max.

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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.

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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.

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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.

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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.

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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.

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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.

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