COMCAST’S SPINCO GETS A NEW NAME
photo credit: Comcast NBCUniversal
Comcast‘s cable TV spinoff company now has a name: Versant. The new venture, will include most of Comcast’s cable TV assets, including USA, Syfy, E!, CNBC, MSNBC, Oxygen and Golf Channel, as well as some digital businesses like Fandango and Rotten Tomatoes. The co has struck a two-year ad sales agreement where NBCU will handle sales under its One Platform banner.
DOJ & FTC EYEING LIVE ENTERTAINMENT INDUSTRY
Michael Buckner/PMC
The Justice Department and the Federal Trade Commission have launched a public comment period in their inquiry into unfair and uncompetitive practices in ticketing in the live concert and event business. Public comments are being taken online, with a deadline of July 6. Donald Trump signed an executive order in March, ombating Unfair Practices in the Live Entertainment Market, that directed that the DOJ and the FTC ensured “that competition laws are appropriately enforced in the concert and entertainment industry.” The executive order also directed the FTC to ensure enforcement of the Better Online Tickets Sales Act, which restricts the resale of tickets that were purchased via bots. The DOJ and state attorneys general filed suit last year against Live Nation–Ticketmaster, alleging that the company has a monopoly in live entertainment that has thwarted competition.
ENDEAVOR CONTINUES ITS’ SELLOFF
Photo Credit: Endeavor
With the Silver Lake take-private complete, Endeavor Group Holdings continues to sell off its remaining “non-core” assets, with Ari Emanuel still the biggest buyer. The company on Thursday said that it had agreed to sell Frieze to a new events and experiences company founded by Emanuel, and backed by a consortium of investors. Frieze operates international arts fairs, as well as editorial and digital arts platforms. Last year Endeavor sold PBR, IMG and On Location to TKO, which it holds a controlling stake in; And it sold OpenBet and IMG Arena in another deal backed by Emanuel (SportRadar subsequently cut a deal to buy IMG Arena). And Earlier this week THR reported that Emanuel was among the buyers of WME’s basketball representation business, as WME works with the players unions on resolving conflict of interest concerns involving Silver lake and Michael Dell. WME is currently in talks to figure out the future of its baseball representation business, and sold its football business to Patrick Whitesell.
EXTRA NEWS
Lionsgate has completed the full separation of its studio and Starz businesses into two standalone, publicly-traded companies. They start trading today, Lionsgate Studios on the NYSE, Starz on the Nasdaq. The separation is designed to unlock incremental value by creating two pure play companies “able to pursue their own strategic, financial and operational priorities and attract investors drawn to the strengths of their respective businesses,”
Legendary Entertainment has also hired 30-year marketing and publicity vet Marisa McGrath Liston as EVP of Publicity & Communications. The former Lionsgate global marketing and publicity head will oversee all publicity and communications strategy and execution, working across Legendary’s divisions, including film, television, digital media, comics, gaming, and more.
The Writers Guild of America West has voluntarily recognized a union formed by its own staffers after a card count revealed that the majority of the bargaining unit favored organizing. The screenwriters’ labor group gave the green light to all non-supervisory staffers to join the Pacific Northwest Staff Union after the count revealed 81 percent of the bargaining unit supported the move.
The satellite radio giant SiriusXM is launching the new bundle, which will include its app-only “All Access” plan, as well as a subscription to Fox Nation, for $11.99 per month. That is a 33 percent discount compared to the price of buying each plan separately, with the SiriusXM plan normally costing $9.99 per month and Fox Nation $7.99 per month.
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