By TOM SOTER
and not just geographically. When creating commercials, more and more out-of-town production companies are finding the Lone Star State is the place to be. In recent months, that notion has led to the formation of alliances between out-of-state production houses and homegrown, Texas-based shops for a variety of reasons, including a desire to increase one’s presence in the Texas agency market, as well as to expand production options.
In one deal, bicoastal Atherton entered into a reciprocal agreement with Concrete Productions, Dallas. In another, New York-based Washington Square Films formed a relationship with Directorz (formerly Bednarz Films), Dallas. Per the latter arrangement, Washington Square directors Jeff Feuerzeig and Peter Sillen are represented in the Southwest by Directorz.
Texas has long attracted production companies from other areas. Mark Androw, executive producer of the Story family of companies-New York Story, Chicago Story, L.A. Story and Texas Story-has had a base of operations in Texas since ’92. When Androw started Chicago Story, the first of his companies, in ’89, the idea was to offer, in his words, "national quality directors for local production, with local production support." In ’93, Androw branched out with New York Story, and followed with L.A. Story in ’95.
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