As SHOOT went to press, Silicon Graphics (OTC: SGID) announced that it has reached an agreement with all of its Senior Secured bank lenders and with holders of a significant amount of its Senior Secured debt on the terms of a reorganization plan intended to reduce its debt by approximately $250 million. As part of this agreement with many of its major stakeholders, and as the next step in its previously announced plan to reorganize its businesses, the company and its U.S. subsidiaries have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code. SGI's non-U.S. subsidiaries, including European, Canadian, Mexican, South American and Asia Pacific subsidiaries, were not included in the filing; they will continue their business operations without supervision from the U.S. courts, and will not be subject to the requirements of Chapter 11. SGI reported that it expects to file its Plan of Reorganization reflecting the agreement shortly, and to emerge from Chapter 11 within six months. “We want to assure our customers, our employees and our communities that SGI is operating-business as usual,” Dennis P. McKenna, the recently appointed, chairman and CEO of SGI, stated. “Our customers can continue to rely on SGI for its mission-critical products, services, and support.”….The directing team of Spooner/French has split up. Nick Spooner remains at bicoastal The Artists Company. His first solo shoot is for Volkswagen out of Crispin Porter+Bogusky, Miami….Carole Schumacher announced that she has sold Chicago-based Schumacher Camera to long-time staffers James Pope and Mike Acuรฑa. Pope and Acuรฑa have been running the day-to-day operations for the past few years, and have been with the company for a combined 22 years. As partners, Pope will handle the business side of the company, working with DPs and producers, while Acuรฑa will continue to head up the technical side. Carole Schumacher has agreed to continue as creative director, overseeing ad campaigns and branding. The principals said that customers will notice few if any changes in what should be a seamless transition … Honey Trap, the short film from director Bob Giraldi, was a Gold Remi Award Winner for Creative Excellence at the recent 39th Annual WorldFest-Houston. The film is the first project Giraldi has written and directed through 149WOOSTER, a New York-based production company he co-founded in 2005 with Patti Greaney and Carol Case….
New 2025 Laws Hit Hot Topics–From AI In Movies To Social Media
Name a hot topic, and chances are good thereโs a new law about it taking effect in 2025 in one state or another.
Many of the laws launching in January are a result of legislation passed this year. Others stem from ballot measures approved by voters. Some face legal challenges.
On the entertainment and social media fronts there are several notable state laws taking effect, including:
Hollywood stars and child influencers
California, home to Hollywood and some of the largest technology companies, is seeking to rein in the artificial intelligence industry and put some parameters around social media stars. New laws seek to prevent the use of digital replicas of Hollywood actors and performers without permission and allow the estates of dead performers to sue over unauthorized AI use.
Parents who profit from social media posts featuring their children will be required to set aside some earnings for their young influencers. A new law also allows children to sue their parents for failing to do so.
Social media limits
New social media restrictions in several states face court challenges.
A Florida law bans children under 14 from having social media accounts and requires parental consent for ages 14 and 15. But enforcement is being delayed because of a lawsuit filed by two associations for online companies, with a hearing scheduled for late February.
A new Tennessee law also requires parental consent for minors to open accounts on social media. NetChoice, an industry group for online businesses, is challenging the law. Another new state law requires porn websites to verify that visitors are at least 18 years old. But the Free Speech Coalition, a trade association for the adult... Read More