Former Disney, Marvel and Moonbug Executive
Assumes Leadership Role to Bolster Falcon’s Beyond’s Innovation in
Entertainment
Falcon’s Beyond (“Falcon’s” or the “Company”), a leading fully
integrated global entertainment development company specializing in
intellectual property (IP) creation and expansion, today named
Simon Philips, an accomplished entertainment industry executive, as
President, a newly created position for the company. Philips, whose
visionary approach to brand building has helped shape the strategic
direction of some of the world’s most iconic franchises – including
Disney, Pixar, Star Wars, Marvel, CoComelon, Pokémon, Teenage
Mutant Ninja Turtles and Yu-Gi-Oh – previously served as Senior
Advisor to the Falcon’s Beyond Board.
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Simon Philips has joined entertainment
powerhouse Falcon's Beyond as President. (L-R) Scott Demerau,
Executive Chairman, Simon Philips, President, and Cecil D. Magpuri,
Chief Executive Officer. (Photo: Business Wire)
Most recently, Philips was Managing Director, Global Consumer
Products at Moonbug Entertainment, the company behind properties
including CoComelon, Blippi and Little Angel. He brings significant
experience that will help drive the substantial entertainment and
consumer product synergies at Falcon’s. Philips has relocated to
Falcon’s headquarters in Orlando and reports directly to CEO Cecil
D. Magpuri.
As President, Philips will oversee the future growth and
expansion of entertainment-based business and development of the
company’s IPs. This will include developing and implementing
comprehensive corporate strategies for future growth across all
commercial operations of the company and its wholly owned
subsidiaries. Leveraging his deep industry expertise and
relationships, Philips will also focus on strategically building
the infrastructure of new consumer products and entertainment
content.
“When I became Senior Advisor to the Board last year, I
commented that Falcon’s Beyond is playing in a vast sandbox. Since
last year, I have been so impressed with the Company’s mark on the
industry. This is a terrific time to join the team for what we
expect to be explosive growth in the industry,” said Simon Philips.
“I appreciate the opportunity to bring more than 30 years of
experience and insight to Falcon’s and am thrilled about the
abundant opportunities we will pursue together.”
“Simon’s reputation and acclaim in entertainment has been truly
inspirational for me and the greater Falcon’s team,” said Cecil D.
Magpuri. “His visionary cross-channel approach to brand expansion
will further strengthen our own IP Expander flywheel. We feel
incredibly fortunate to have found someone of Simon’s caliber whose
values are so perfectly aligned with Falcon’s culture.”
Among his many accomplishments, Philips previously served as
president of Marvel Entertainment International, where he was a
member of the leadership team that helped build Marvel into an
internationally renowned brand and pave the way for its sale to
Disney. He later became Executive Vice-President & General
Manager, The Walt Disney Company, Europe, the Middle East &
Africa, where his strategic approach to bringing to life iconic
brands from across the Disney, Star Wars, Pixar and Marvel
portfolio through licensing generated more than $16 billion in
annual sales.
Details of Philips joining the company follows other recent
transformative news from Falcon’s Beyond, including the grand
opening of Falcon’s Resorts by Meliá | All Suites Punta Cana, along
with the opening of the adjacent Katmandu Park | Punta Cana on
March 15, 2023, the Caribbean’s first world-class theme park,
together offering a unique “resortainment” hospitality
experience.
Last year, Falcon’s Beyond announced plans to become a publicly
listed company through a definitive merger agreement with FAST
Acquisition Corp. II (“FAST II”) (NYSE: FZT), a special purpose
acquisition company founded by Doug Jacob and headed by Sandy
Beall. Upon the closing of the transaction, the new combined
company will be named “Falcon’s Beyond Global, Inc.” and is
expected to be listed on Nasdaq under the ticker symbol “FBYD.”
More information about the transaction can be found in the Investor
Relations section of Falcon’s Beyond website.
About Falcon’s Beyond
Headquartered in Orlando, Florida, Falcon's Beyond is a fully
integrated, top-tier experiential entertainment development
enterprise focusing on a 360° IP Expander model. The Company brings
its own proprietary and partner IPs to global markets through owned
and operated theme parks, resorts, attractions, patented
technologies, feature films, episodic series, consumer products,
licensing, and beyond. The Company has won numerous design awards
and provided design services in 27 countries around the world,
turning imagined worlds into reality.
Additional Information and Where to Find It
In connection with the proposed business combination, Falcon’s
Beyond Global, Inc. (“Pubco”) has filed with the U.S. Securities
and Exchange Commission (the “SEC”) a registration statement on
Form S-4 (the “Registration Statement”), which includes a document
that serves as a joint prospectus of Pubco and proxy statement of
FAST II, referred to as a proxy statement/prospectus. A proxy
statement/prospectus will be sent to all FAST II shareholders after
the Registration Statement is declared effective by the SEC. No
offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, or an exemption therefrom. FAST II and
Pubco will also file other documents regarding the proposed
business combination with the SEC. BEFORE MAKING ANY VOTING
DECISION, INVESTORS AND SECURITY HOLDERS OF FAST II ARE URGED TO
READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND
ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE
SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION
ABOUT THE PROPOSED BUSINESS COMBINATION.
Investors and security holders can obtain free copies of the
Registration Statement, and will be able to obtain free copies of
amendments to the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by FAST II or Pubco through the website
maintained by the SEC at www.sec.gov.
The documents filed by FAST II with the SEC also may be obtained
free of charge upon written request to 109 Old Branchville Road
Ridgefield, CT 06877. The documents filed by Pubco with the SEC may
also be obtained free of charge upon written request to 6996 Piazza
Grande Avenue, Suite 301, Orlando, FL 32835.
Participants in the Solicitations
FAST II and its directors and executive officers may be deemed
participants in the solicitation of proxies from FAST II’s
stockholders with respect to the proposed business combination. A
list of the names of those directors and executive officers and a
description of their interests in FAST II is contained in FAST II’s
final prospectus related to its initial public offering dated March
15, 2021 and the Registration Statement, each of which was filed
with the SEC and is available free of charge at the SEC’s website
at www.sec.gov. Additional information
regarding the interests of such participants will be contained in
amendments to the Registration Statement for the proposed business
combination when available.
The Company and its directors and executive officers may also be
deemed to be participants in the solicitation of proxies from the
stockholders of FAST II in connection with the proposed business
combination. A list of the names of such directors and executive
officers and information regarding their interests in the proposed
business combination is included in the Registration Statement,
which was filed with the SEC and is available free of charge at the
SEC’s website at www.sec.gov.
Additional information regarding the interests of such participants
will be contained in amendments to the Registration Statement for
the proposed business combination when available.
No Offer or Solicitation
This press release is for informational purposes only and shall
not constitute a solicitation of a proxy, consent or authorization
with respect to any securities or in respect of the proposed
business combination and shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any state or jurisdiction in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. No offering of securities shall be made
except by means of a prospectus meeting the requirements of Section
10 the Securities Act of 1933, as amended, or an exemption
therefrom.
Caution About Forward-Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook,” and similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters.
These forward-looking statements include, but are not limited
to, the expectation that the proposed transaction will occur and
Pubco will be listed on Nasdaq, Falcon’s Beyond’s future growth and
expansion plans, including the development and implementation of
comprehensive corporate strategies for future growth across all
commercial operations of Falcon’s Beyond and its subsidiaries,
Falcon’s Beyond’s plans to strategically build its infrastructure
of new consumer products and entertainment content and the
anticipated benefits of Mr. Philips’ appointment as President.
These statements are based on various assumptions and on the
current expectations of the Company, Pubco and FAST II and are not
predictions of actual performance. These forward-looking statements
are provided for illustrative purposes only and are not intended to
serve as and should not be relied on by an investor or others as, a
guarantee, an assurance, a prediction, or a definitive statement of
fact or probability. Actual events and circumstances are difficult
or impossible to predict and will differ from assumptions. Many
actual events and circumstances are beyond the control of Falcon’s
Beyond and FAST II. These forward-looking statements are subject to
a number of risks and uncertainties, including, but not limited to,
the likelihood of which could be adversely affected by (1) changes
in domestic and foreign business, market, financial, political, and
legal conditions in general and in the entertainment industry in
particular, (2) the outcome of any legal proceedings that may be
instituted against FAST II, Falcon’s Beyond or Pubco following the
announcement of the proposed business combination, (3) the
inability of the parties to successfully or timely consummate the
proposed business combination, including the risk that any
regulatory approvals or the SEC’s declaration of the effectiveness
of our prospectus/proxy statement are not obtained, are delayed or
are subject to unanticipated conditions that could adversely affect
Falcon’s Beyond or the expected benefits of the proposed
transaction or that the approval of the requisite equity holders of
FAST II is not obtained, (4) the occurrence of any event, change or
other circumstance that could give rise to the termination of the
merger agreement, (5) volatility in the price of FAST II’s or
Falcon’s Beyond’s securities, (6) the risk that the proposed
business combination disrupts current plans and operations as a
result of the announcement and consummation of the business
combination, (7) the enforceability of Falcon’s Beyond’s
intellectual property, including its patents, and the potential
infringement on the intellectual property rights of others, cyber
security risks or potential breaches of data security, (8) any
failure to realize the anticipated benefits of the proposed
transaction, (9) risks relating to the uncertainty of the projected
financial information with respect to Falcon’s Beyond, (10) risks
related to the rollout of Falcon’s Beyond's business and the timing
of expected business milestones, (11) the effects of competition on
Falcon’s Beyond's business, (12) the risk that the proposed
business combination may not be completed by FAST II’s business
combination deadline, (13) the amount of redemption requests made
by FAST II's stockholders, (14) the ability of FAST II or Falcon’s
Beyond to issue equity or equity-linked securities or obtain debt
financing in connection with the proposed transaction or in the
future, (15) and those factors discussed in the Registration
Statements and FAST II's final prospectus dated March 15, 2021
under the heading "Risk Factors," and other documents FAST II or
Pubco has filed, or will file, with the SEC. If any of these risks
materialize or our assumptions prove incorrect, actual results
could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
neither FAST II nor Falcon’s Beyond presently know, or that FAST II
or Falcon’s Beyond currently believe are immaterial, that could
also cause actual results to differ from those contained in the
forward-looking statements. In addition, the forward-looking
statements reflect FAST II's and Falcon’s Beyond's expectations,
plans, or forecasts of future events and views as of the date of
this press release. FAST II and Falcon’s Beyond anticipate that
subsequent events and developments will cause FAST II's and
Falcon’s Beyond's assessments to change. However, while FAST II and
Falcon’s Beyond may elect to update these forward-looking
statements at some point in the future, FAST II and Falcon’s Beyond
specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as a
representation of FAST II's and Falcon’s Beyond's assessments as of
any date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230310005308/en/
Media: DKC Public Relations Falcons@dkcnews.com
Investor Relations: Brett Milotte, ICR
FalconsBeyondIR@icrinc.com
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