English Entertainment
Top NY producers to lead Keshet films’ div with ‘Skinny Dip’ & ‘Newburgh Sting’
MUMBAI: Keshet Studios, the LA-based subsidiary of Keshet International (KI), the global production and distribution powerhouse behind many high-profile, award-winning and critically acclaimed series, has launched Keshet Films, announced KI CEO Alon Shtruzman. The newly formed global feature development and production division will be co-headed by award-winning producers Mandy Tagger-Brockey and Adi Ezroni.
Reporting to Keshet Studios President of Scripted Peter Traugott in Los Angeles, Tagger-Brockey in New York and Ezroni in Tel Aviv will form a unit producing features budgeted between $10 million and $20 million for the US and international markets.
Keshet Films’ inaugural development slate includes a feature adaptation of the Carl Hiaasen caper novel, Skinny Dip, and Newburgh Sting, a fictional adaptation of the award-winning HBO documentary.
“KI is a premium content company that is always on the lookout for the best creative talent, and that is exactly what we have in Mandy and Adi,” said Shtruzman. “They are a perfect fit, bringing to us a distinct point of view, filmmaking savvy, a desire to create meaningful and entertaining content, as well as an outstanding track record of producing excellent films – of all budget sizes with high-quality casts, writers and directors attached.”
Traugott added, “When we launched Keshet Studios nearly two years ago, Alon and I knew our next primary objective would be to gain a foothold in the feature film business. Mandy and Adi have an incredible network of creative relationships throughout the Hollywood, New York and Israeli film communities. We are very lucky to have them join KI and are excited for them to lead this new venture.”
The producers join KI from their New York-based Spring Pictures label, where they developed, financed and produced a multitude of award-winning independent films.
“We are thrilled to set up in house at a quality-driven company like Keshet International, furthering our commitment to supporting great talent and unique storytelling,” Tagger-Brockey and Ezroni commented. “Working closely with Alon and Peter, we intend to bring KI into the film world as an active and disruptive player.”
Tagger Brockey’s and Ezroni’s arrival at Keshet Films coincides with the April 23 world premiere of Spring Pictures’ Saturday Church, written and directed by two-time WGA Award nominee Damon Cardasis, at the 16th annual Tribeca Film Festival. A rousing celebration of one boy’s search for his identity, Saturday Church marks Tagger Brockey’s and Ezroni’s return to the Tribeca film competition after their entrant last year, Dean, which earned the 2016 Festival’s prestigious Founders Award. Dean, which stars its writer and director Demitri Martin as well as Kevin Kline, Gillian Jacobs and Mary Steenburgen, is due in theaters in June.
A veteran of the New York film scene, Tagger-Brockey began her career at InDigEnt – director Gary Winick, John Sloss and IFC’s prescient experiment matching top-notch industry creative talent with shoestring budgets and crew profit sharing. While supervising production for the company, she oversaw a wide array of acclaimed films such as the award-winning, Winick-directed Tadpole, along with Richard Linklater’s Tape, Peter Hedges’ Pieces of April, Wim Wender’s Land of Plenty and Steve Buscemi’s Lonesome Jim.
Ezroni, an award-winning actress who has spent the past decade as a film producer, was a partner at Priority Films prior to teaming with Tagger-Brockey. She received the 2008 Global Hero Award from the US State Department for her work in raising awareness of human trafficking with the films Holly and Redlight. The lead actress of Keshet Broadcasting’s globally renowned TV drama Prisoners of War, the inspiration for the Showtime hit series Homeland, she also stars in HBO Europe’s When Shall We Kiss.
In 2009, the pair co-founded Spring Pictures, where they produced A Late Quartet, directed by Yaron Zilberman and starring Philip Seymour Hoffman, Christopher Walken and Catherine Keener; The English Teacher, directed by Craig Zisk and starring Julianne Moore, Greg Kinnear and Lily Collins; and SXSW Game Changer Award-winner Kelly & Cal, directed by Jen McGowan and starring Juliette Lewis and Jonny Weston. All Nighter, directed by Gavin Wiesen and starring JK Simmons and Emile Hirsch, premiered in March.
English Entertainment
Warner Bros. Discovery shareholders approve Paramount deal
Investors wave through a $111 billion megamerger but deliver a stinging, if toothless, rebuke over half-a-billion-dollar goodbye packages
NEW YORK: The shareholders said yes to the deal. They said no to the cheque. At a virtual special meeting on Thursday that lasted barely ten minutes, Warner Bros. Discovery investors voted overwhelmingly to approve Paramount Skydance’s $111 billion acquisition of the company — and then turned around and voted against the lavish exit pay packages lined up for chief executive David Zaslav and his fellow outgoing executives.
Not that it will make much difference. The compensation vote is purely advisory and non-binding. The Warner Bros. Discovery board can, and almost certainly will, pay out as planned.
But the symbolism stings. It is the second consecutive year that WBD shareholders have voted against the executive compensation packages, and this time they had good reason. Zaslav’s exit deal is, by any measure, extraordinary. Under the terms filed with the Securities and Exchange Commission, he is set to receive $34.2 million in cash severance, $517.2 million in equity in the combined company, and $44,195 in continued health coverage — a total of at least $550 million. On top of that, Warner Bros. Discovery has agreed to reimburse Zaslav up to $335 million for taxes assessed by the Internal Revenue Service on his accelerated stock vesting, though the company says that figure will decline depending on when the deal closes. As of March 11, Zaslav also held $115.85 million in vested WBD stock awards — and last month sold a further $114 million worth of WBD shares.
Shareholder advisory firm ISS recommended voting against the compensation measure, citing “problematic” tax reimbursements to Zaslav and the full vesting of his stock awards.
Zaslav will be bound by a two-year non-competition covenant and a two-year non-solicitation of customers and employees after the deal closes.
His lieutenants are not walking away empty-handed either. J.B. Perrette, chief executive and president of global streaming and games, is in line for $142 million, comprising $18.2 million in cash severance and $123.9 million in equity. Bruce Campbell, chief revenue and strategy officer, will receive an estimated $121.5 million, including $18.8 million in severance and $102.7 million in equity. Chief financial officer Gunnar Wiedenfels is set for $120 million, made up of $6.6 million in cash severance and $113.1 million in equity. Gerhard Zeiler, president of international, will get $82.6 million, including $11.9 million in severance and $70.7 million in equity.
The deal itself, clinched in February after Netflix declined to raise its bid for Warner Bros., still needs regulatory clearance from the Justice Department and European authorities. Several state attorneys general are also weighing legal action to block it.
Senator Elizabeth Warren, Democrat of Massachusetts, was unsparing. “The Paramount-Warner Bros. merger isn’t a done deal,” she said after the shareholder vote. “State attorneys general across the country are stepping up to stop this antitrust disaster. We need to keep up this fight.”
If it does go through, the combined entity would be a formidable beast, bringing together Paramount Skydance’s stable — CBS, CBS News, Paramount Pictures, Paramount+, BET, MTV and Nickelodeon — with WBD’s portfolio of HBO, Max, Warner Bros. film and TV studios, DC, CNN, TBS, TNT, HGTV and Discovery+. Paramount has said it expects $6 billion in cost savings from the merger, which is Wall Street shorthand for mass layoffs on a significant scale.
The ten-minute meeting was presided over by chairman Samuel Di Piazza Jr., with Zaslav, Campbell, Wiedenfels and chief communications officer Robert Gibbs in virtual attendance. Di Piazza was bullish. “We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio,” he said. “With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.”
Zaslav echoed the sentiment. “Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,” he said. “Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders.”
Paramount Skydance struck a similar note. “Shareholder approval marks another important milestone towards completing our acquisition of Warner Bros. Discovery,” it said in a statement, adding that it looked forward to “closing the transaction in the coming months.”
The shareholders have spoken on the merger. On the pay, they were ignored before the vote was even counted.
