By Kathy DeSalvo
Longstanding commercial house 1/33 Productions, Santa Monica, has closed up shop, with several of its key players—directors Martin Bell, Mark Raymon Bennett and Olivier Venturini, as well as executive producer/head of production David Lasseron—moving over to bicoastal Cohn+Company (see story above). Meanwhile, 1/33’s other two directors—James Dalthorp and Lionel Coleman—are headed for new roosts. At press time, Coleman had signed with Santa Monica-based Visitor. Dalthorp said he was weighing offers from three companies and expects to make a decision shortly.
Former 1/33 principal/executive producer Chris Meltesen told SHOOT he officially resigned from the production house on Feb. 1. Meltesen said that he has retired from the spot production business. He founded 1/33 with Lasseron some 10 years ago, after the dissolution of its predecessor company, Berkofsky/Barrett. "[1/33] was doing very well," said Meltesen. "I think everybody had a really rocky late spring and summer last year, as did we. But it worked out fine; in the end, we had a very good year. I know the company is financially stable."
Lasseron said 1/33 will not be filing for bankruptcy, and intends to honor its debts. "There is a small financial decision—it’s a rep commission that’s still being discussed. Otherwise, everybody else has been paid [or] will be paid. There’s no problem."
1/33 released its sales reps at the beginning of the year: Connie Mellors on the West Coast, Doug Stieber in the Midwest and Jackie Jones on the East Coast. Attorney Mike Nadler, a partner at New York-based law firm Uncyk, Borenkind & Nadler, serves as legal counsel for Mellors. Nadler told SHOOT, "There are some open questions which are in discussion, and I trust that they will be resolved."
1/33 closed its New York branch several months ago (SHOOT, 12/10/99, p.1), following the departures of director Rick Levine, whose New York-based Rick Levine Productions had been affiliated with 1/33 since late ’95, and Pam Rohs, who is Levine’s longtime executive producer. Levine recently opted to align his company with Next, a startup being launched by bicoastal OneSuch Films and Rohs. Next is a OneSuch satellite.
"We closed the [1/33] New York office because it didn’t make any sense for us to have a big Manhattan office," said Lasseron. "It was too much overhead. So what do you do without an office?—you either find a repping company or you go the old-fashioned way, which is what we did by joining [Cohn+Company]. We wanted a New York presence. Jack [Cohn, president of Cohn+ Company] has a New York office, and we have a beautiful L.A. office. It made sense."
Cohn+Company had been informally working out of 1/33’s Santa Monica production office for the last six months. "Cohn+ Company just didn’t have the facilities to set up [on the West Coast] immediately, so it worked out for us," Cohn said. "When their New York office closed, they were looking for representation and were dealing with how to market their directors, and keep them.
"My staff rep, Randi Arnold, and I both rep, and it made sense for the companies to combine," Cohn continued. "And from a sales and marketing standpoint, it was the perfect time for us to add three more directors."
According to the aforementioned Coleman, he left 1/33 when his two-year contract expired in late October. The director said he had decided several months earlier that he would look for another roost. Coleman explained that he was prompted to leave due to his desire to join a more progressive company, as 1/33 was "too conservative."
Coleman also cited the departure of 1/33 executive producer Rohs as part of the reason he left. "[Rohs] was really my confidante at the company," said Coleman. "After her departure, I pretty much knew I wasn’t going to stay. I was free to go at the October mark; at that point in time, it wasn’t decided if 1/33 was going to stay open. I had no intention of staying, even if they would have stayed open."
Endeavor Group Sells Professional Bull Riders, On Location and IMG To Parent of WWE and UFC
The parent company of WWE and UFC is buying Professional Bull Riders, On Location, and IMG from Endeavor Group in an all-stock deal valued at $3.25 billion.
The deal is part of Endeavor's efforts to shed some of its assets as it looks to be taken private in a proposed transaction with private equity firm Silver Lake, which was announced in April. Ariel Emanuel, who serves as CEO of Endeavor, is also executive chair and CEO of TKO.
Professional Bull Riders is a bull riding league that has more than 200 annual live events, approximately 1.25 million fans, and reaches more than 285 million households in more than 65 territories. On Location is live event company for more than 1,200 sporting events, such as the Super Bowl, Ryder Cup and NCAA Final Four. IMG is a distributor and producer of sports content, packages and sells media rights and brand partnerships, and provides consulting, digital services and event management to clients such as the National Football League and National Hockey League.
Parent company TKO Group said Thursday that the acquisition from Endeavor Group will complement its existing businesses as well as broaden its reach in the premium sports market.
"PBR, On Location, and IMG are industry-leading assets that meaningfully enhance TKO's portfolio and strengthen our position in premium sports globally," TKO Chief Operating Officer Mark Shapiro said in a statement. "Within TKO, they will help power the growth of our revenue streams and position us to capture even more upside from some of the most attractive parts of our sports ecosystem: media rights, live events, ticket sales, premium experiences, brand partnerships, and site fees."
As part of the deal, Endeavor will receive about 26.14 million common units of TKO... Read More