By Carolyn Giardina
SANTA MONICA, Calif. --Ascent Media Group (AMG), the Santa Monica, Calif.-headquartered, wholly-owned subsidiary of Discovery Holding Company (NASDAQ: DISCA, DISCB), has announced its is merging its creative services for picture and sound by integrating its Creative Sound Services Group–which includes companies such as Soundelux, Todd-AO, and Sound One–more closely with its Creative Services unit–which encompasses businesses including Company 3, R!OT and FilmCore.
“Our clients are looking for a more integrated workflow,” said Bob Solomon, CEO of Ascent Media Creative Services, who explained that the integration will primarily focus on areas such as marketing.
The senior management team at Ascent Media Creative Services remains under the leadership of Solomon, senior VP of sales Bill Romeo, senior VP of business development Stefan Sonnenfeld (also colorist and president of Company 3), CTO Philip Mendelson, and CFO Dan Holmes. Robert C. Rosenthal–most recently senior VP of Creative Sound Services–will be assume the post of COO for sound companies, and report directly to Solomon.
Meanwhile, Soundelux co-founders Lon Bender, an Academy Award winner, and Wylie Stateman, will focus more fully on creative endeavors.
Bender, who had been serving as president of Creative Sound Services, while also working as a supervising sound editor on motion picture projects under the Soundelux banner, will in ’06 hold the new title of chief creative officer for Sound Services, which the company reported will allow him to focus more of his time with his clients on creative work.
“I am very happy with the direction the company has taken and proud of all that we have accomplished over the last five years. … Being afforded the ability to renew my focus on designing soundtracks — and doing it within the community that is AMG, whether in Los Angeles, New York or London, thrills me to no end,” said Bender.
Wylie Stateman will continue in his current capacities as executive VP of sound services and as a supervising sound editor.
“As co-founders of Soundelux, Lon and Wylie have helped to shape their industry. They are both formidable creative forces whose expertise is in high demand, and we are proud that they will continue to play vital roles in Ascent Media’s Creative Services Group,” said AMG president/CEO Ken Williams. “We understand and respect Lon’s desire to focus completely on creating outstanding sound for movies.”
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