Strategy: Last News

EXCLUSIVE: Jason Bergsman, a seasoned business executive who helped Joe and Anthony Russo build AGBO into a formidable content supplier, will exit as the company’s CEO this fall.

Todd Spangler NY Digital Editor Peter Chernin’s Chernin Group has formed a new investment company, Night Capital, with digital talent-management and media firm Night Inc., whose biggest client is major YouTube creator MrBeast. Night Capital, which has funding commitments of $100 million from TCG, is focused on acquiring majority interests in “consumer-facing companies in partnership with leading talent,” the companies announced. The firm said it will team up with creators who “will be key partners in driving the strategic vision and future business growth,” they said — modeled on the business ventures of MrBeast, aka Jimmy Donaldson, who has launched a national burger chain and a games company.

FilmNation TV UK has hired a key BBC Studios drama exec as it builds out its slate. Martin Rakusen has joined Creative Director Kirstie Macdonald’s team as COO.

Manori Ravindran International Editor Corus Entertainment has struck an overall deal with U.K.-Canadian production company Dominion of Drama, and appointed its founder Jeff Norton as the head of its new imprint, Waterside Studios. Waterside Studios is positioned as a new IP and production venture focused on premium scripted Canadian content for youth and primetime audiences. The outfit will cater to the Canadian as well as international marketplace. Norton most recently served as a consultant for Corus, and previously as executive producer of “Trucktown” for production company Nelvana. He also co-wrote the novel “Keeping the Beat,” which was one of the launch titles for Kids Can Press’ young adult KCP Loft imprint.

Jem Aswad Senior Music Editor Universal Music Group has announced the launch of the Virgin Music Group, a new global division comprised of Virgin Music Label & Artist Services, Ingrooves Music Group and Mtheory Artist Partnerships. The third element is new to UMG: It has acquired Mtheory’s bespoke label division, Mtheory Artist Partnerships, although its manager services business is not part of the transaction and will remain wholly independent. Terms of the deal were not disclosed.   The Virgin Music Group, which brings the company’s label and artist services businesses under one unit, will be overseen by Mtheory founders JT Myers and Nat Pastor as co-CEOs, who will report directly to UMG Chairman and CEO Lucian Grainge. A specific breakdown of the units is below.

Michael Schneider Variety Editor at Large Estrella Media has hired former NBCUniversal exec Enrique Guillen to serve as the company’s new chief content officer. Guillen will report to Estrella Media CEO Peter Markham and be based in Burbank. At Estella Media, Guillen will oversee U.S. domestic and global content strategy for the company’s TV, streaming, digital, audio, events and digital businesses, including developing, producing, and acquiring all television and film content, overseeing network and station programming, news, sports, digital content, and studio productions. He’ll also handle international distribution of Estrella Media content. “Enrique brings impeccable credentials as a leading executive in global content development and distribution, and he is a perfect fit to help our company accelerate our leadership position,” said Markham. “We look forward to Enrique taking a prominent role in helping us plot our next phase of growth as the changes taking place in our industry present unprecedented opportunities for Estrella Media.”

Long-awaited plans to build 223 homes on a retail park on the edge of Rochdale town centre have been submitted. Developer Willmott Dixon has applied for planning permission on behalf of Rochdale council for Central Retail Park off Drake Street.

K.J. Yossman Independent Entertainment, the finance, sales and production company behind films including “We Need to Talk About Kevin” and the upcoming “My Policeman,” which is set to have its world premiere at TIFF, celebrates its fifteenth anniversary this year. Since its founding by CEO Luc Roeg in 2007, the film landscape has undergone unimaginable change, from the ascendance of streaming platforms to the global pandemic followed by a cost of living crisis that has brought cinemas to their knees. Despite the challenges, Independent Entertainment has gone from strength to strength, adapting to market changes while remaining true to what Roeg describes as its “creative core.”

Matt Donnelly Senior Film Writer No feature film has it easy in the modern theatrical and digital landscape, but 2022 has been particularly fraught. Warner Bros. is outright shelving pricey titles like “Batgirl,” Netflix has gone back to the drawing board thanks to its stock stumble and Amazon is focusing its resources on the almost-billion-dollar rollout of its “Lord of the Rings” TV series.   For fledgling indie movies that come to film markets, like the one currently underway in Toronto, the streamers used to be a safe and lucrative bets for distribution. As these now-legacy companies scramble to cut costs and boost subscriptions to please stockholders, the indie film industrial complex has once again been forced to pivot.  

Us Weekly has affiliate partnerships so we may receive compensation for some links to products and services.

The surprising decision last month to shelve completed DC movie Batgirl was “blown out of proportion” by the press, according to Warner Bros Discovery CFO Gunnar Wiedenfels.

Selome Hailu Chris Van Amburg has stepped down from his position as head of video marketing at Apple. He announced his exit in a memo sent to staff on Wednesday, citing a desire to spend more time with his family as his reason for leaving the company. Van Amburg joined Apple in September 2018, a year prior to the launch of Apple TV+, and led marketing strategy for the streamer. Projects launched during his tenure include the Emmy-winning comedy series “Ted Lasso” and the Oscar-winning coming-of-age film “CODA.” Before Apple, he worked at Sony Pictures Entertainment for 13 years, where he most recently served as senior vice president of marketing. This is Apple’s second major marketing departure of 2022. As Variety reported exclusively, head of film marketing strategy JP Richards turned in his resignation in May.

The shoe finally fell today as giant theater chain Cineworld filed for Chapter 11. The bankruptcy includes a $1.94 billion debtor-in-possession financing facility from existing lenders to keep things running.

EXCLUSIVE: Chris Van Amburg is leaving Apple after a four-year stint as Head of Video Marketing. He just announced his exit in a memo to staff.

K.J. Yossman The BBC has hired Chinny Okolidoh as its new director for diversity and inclusion. Okolidoh joins from L’Oreal U.K. and Ireland, where she is the director of diversity, equity and inclusion. At the BBC, her role will include overseeing diversity strategies, leading the diversity and inclusion team, originating and integrating initiatives related to everything from new talent to hiring to commissioning to training, and collaborating with directors across the BBC – including in news, content, studios and nations – to ensure best practices are implemented. “I’m thrilled that Chinny Okolidoh will be joining the BBC,” BBC chief operating officer Leigh Tavaziva said in a statement. “Ensuring the BBC truly reflects the public we serve – both on and off screen – has never been more important. I know Chinny’s experience and passion will help us to expertly build on the progress we’ve already made to improve representation across the industry.”

A town hall chief has hit out after coming under fire following a decision to put a long-term housing plan on hold for a second time. Stockport council leader Mark Hunter says the decision to ‘pause’ a public consultation on the borough’s emerging Local Plan was taken after ‘considerable thought’ and cross-party discussions.

Selome Hailu After being formed by celebrity chef Gordon Ramsay and Fox Entertainment in 2021, Studio Ramsay Global (SRG) has made its first key executive appointment. Cyrus Farrokh will serve as senior vice president heading up worldwide strategy and U.S. operations. Farrokh will work with Ramsay as well as Fox Alternative Entertainment (FAE) president Rob Wade and SRG’s chief creative officer Lisa Edwards to oversee business development and global growth strategy. He will be based in Los Angeles as he builds on the company’s first year of operations, which have included the launch of Fox’s “Next Level Chef as well as a new free ad-supported television channel on Fox’s Tubi, international format sales with ITV in the U.K. and the upcoming series “Gordon Ramsay’s Food Stars.”

Studio Ramsay Global, the production company founded by celebrity chef Gordon Ramsay and Fox, has made its first key executive hire.

Nick Vivarelli International Correspondent Last year Andrea Scrosati – who is group COO and continental Europe CEO of Fremantle – was at Venice with two films. This year Fremantle’s got six pics launching from the Lido, three of them in competition, which is a larger contingent than any of the U.S. studios or streamers.  Fremantle’s business model, which involves a cluster of companies mostly across Europe that they either fully own or are majority investors in, has been bearing fruit on their film side. Their output has grown “from 8 to 32 delivered movies in two years,” Scrosati says.  And the multi-pronged company’s Venice lineup – which includes Luca Guadagnino’s “Bones and All,” Emanuele Crialese’s “L’Immensità,” and Joanna Hogg’s “The Eternal Daughter” – is a reflection of that.

Mercedes star Lewis Hamilton received an apology from team prinicipal Toto Wolff after a strategy error robbed the Briton of a first race victory of the season at the Dutch Grand Prix. The seven-time champion unleashed a tirade of expletives at his team after being passed by Max Verstappen, and then team-mate George Russell and Ferrari's Charles Leclerc, following the safety car restart before coming home in fourth. Hamilton's race engineer Peter Bennington apologised to Hamilton for the events that led to the Briton coming home in fourth place and promised to review the incidents later in the day.

Warner Bros. Discovery has set another of its European management teams, as Nordic chief Christina Sulebakk lays out the structure of her unit.