Entertainment One Ltd Launch of new global venture with Brad Weston (4605F)
18 May 2017 - 1:03AM
UK Regulatory
TIDMETO
RNS Number : 4605F
Entertainment One Ltd
17 May 2017
Date: 17 May 2017
On behalf of: Entertainment One Ltd. ('the Company')
Entertainment One Ltd.
Launch of MAKEREADY, a new global venture with Brad Weston
Entertainment One to enter into a new global venture with Brad
Weston, establishing MAKEREADY, a new global content creation
company
Entertainment One Ltd. today announces that it has entered into
an agreement with industry veteran Brad Weston to launch MAKEREADY,
a new global content creation company. MAKEREADY will develop and
produce original feature films and high-end television for premium
cable, OTT and emerging platforms on a worldwide basis. eOne will
distribute new content created by the venture.
The partnership unites one of the world's most outstanding and
creative senior media executives with eOne's extensive
international distribution network to create a new independent
studio that will develop and produce original content for global
distribution on all platforms. Under the terms of the agreement,
eOne is funding MAKEREADY's launch, including new content that the
partnership greenlights. eOne will have distribution of MAKEREADY
films in its territories and MAKEREADY television worldwide,
providing eOne with a pipeline of premium content created by and
starring top tier talent. The investment falls materially below the
Class two threshold. The agreements with Brad Weston contain
certain customary puts and calls and other exit events, including
an opportunity for Entertainment One to acquire up to 100% of
MAKEREADY, upon certain events, for consideration to be determined
in the future.
Brad Weston has presided over both major and independent
studios, during his over 30 years in the entertainment business. He
most recently served as president and chief executive officer of
New Regency, where in just five years, he led the company to a
remarkable 34 Academy Award(R) nominations and 12 wins, including
two Best Picture Oscars, for films including "The Revenant,"
"Birdman," "Gone Girl," "12 Years a Slave" and "The Big Short."
Prior to joining New Regency, Weston served as president of
production for Paramount Pictures where he was responsible for
films including "Star Trek," "Cloverfield," "The Fighter," "Shutter
Island," "GI Joe," and "Rango." As a part of the new venture
agreement, Brad Weston has entered into a new long term employment
agreement. Pam Abdy, former president of production for New
Regency, will head MAKEREADY's executive team, alongside the
company's soon-to-be announced television and digital
executives.
Darren Throop, CEO, commented:
"We are thrilled to support Brad on the launch of his new
company. We have always been impressed by his incredible track
record of delivering compelling content that is as commercially
successful as it is award-worthy, and we are excited to be able to
deliver that content to audiences around the world."
Enquiries:
Redleaf Communications Rebecca Sanders-Hewett +44 (0)20 7382
David Ison 4730
Susie Hudson eOne@redleafpr.com
Joe Sparacio +44 (0)20 3714
Entertainment One Ltd. Patrick Yau 7931
+44 (0)20 7742
J.P. Morgan Cazenove Hugo Baring 4000
Virginia Khoo
Thomas White
Patrick Robb +44 (0)20 7597
Investec Bank PLC Matthew Lewis 5970
Notes to Editors:
Evolution Media, a merchant bank focused on the media and sports
industries, orchestrated the deal. Brad Weston is represented by
Latham & Watkins LLP and eOne by Mayer Brown LLP and in-house
counsel.
About Entertainment One
Entertainment One Ltd. (LSE:ETO) is a global independent studio
that specialises in the development, acquisition, production,
financing, distribution and sales of entertainment content. The
Company's diversified expertise spans across film, television and
music production and sales, family programming, merchandising and
licensing, and digital content. Through its global reach and
expansive scale, powered by deep local market knowledge, the
Company delivers the best content to the world.
Entertainment One's robust network includes film and television
studio The Mark Gordon Company; content creation venture Amblin
Partners with Steven Spielberg, DreamWorks Studios, Participant
Media, and Reliance Entertainment; leading feature film production
and global sales company Sierra Pictures; unscripted television
production company Renegade 83; world-class music labels Dualtone
Music Group and Last Gang; and award-winning digital agency Secret
Location.
The Company's rights library, valued at US$1.5 billion (as at 31
March 2016), is exploited across all media formats and includes
more than 100,000 hours of film and television content and
approximately 40,000 music tracks.
www.entertainmentone.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCOKODKPBKDBPD
(END) Dow Jones Newswires
May 17, 2017 11:03 ET (15:03 GMT)
Entertainment One (LSE:ETO)
Historical Stock Chart
From Apr 2024 to May 2024
Entertainment One (LSE:ETO)
Historical Stock Chart
From May 2023 to May 2024