The 450,000 square foot, two-building campus, which was created by real estate developer Ross J. Perot’s Hillwood and can support four concurrent large-scale productions, is the largest operating studio in Texas. SGS 1 and SGS 2 offer fully HVAC-equipped and power-optimized facilities that combine sound stages, mill space, wardrobe and green screen capabilities. 

They are the first of several campuses planned across Hillwood’s 27,000-acre AllianceTexas development, each featuring additional sound stages, post-production suites, vendor support and scalable infrastructure designed to attract top-tier productions and long-term tenants from around the world.

Filming at the campus began in March, led by Paramount and 101 Studios for the second season of “Landman,” which premieres Nov. 16.

It is centrally located in AllianceTexas, with immediate access to Perot Field Fort Worth Alliance Airport, DFW International Airport and versatile shooting locations, including Circle T Ranch and surrounding environments. 

“In order for us to have the space to create the worlds that Taylor, Paramount and 101 Studios envision, we need world-class facilities and partners,” Showtime/MTV Entertainment Studios head of global production Keri Panichi Flint said in a statement. “[Ross Perot​ Jr., Mike Berry, the Hillwood team and SGS] have been incredible partners in helping us bring a state-of-the-art facility to life in Texas to make ou​r shows with the authenticity they deserve, while, equally as important, bringing thousands of jobs to the community. We are so thankful to Texas state and local leaders, Mr. Perot, Mr​. Berry, SGS and the people and community of F​ort Worth.”

The news comes as Texas recently boosted its film incentive program to $300 million every two years, up from $200 million, which will run through 2035. Since 2007, the program has been funded by lawmakers at varying levels, ranging from $45 million on the lower end to $200 million on the high end.

“SGS Studios isn’t just about sound stages or incentives — it’s about reclaiming the independence and grit that built this industry in the first place,” Sheridan said. “Texas offers something rare: the space to dream big, the freedom to build fast and a community that still believes storytelling matters. Ross, Mike and the entire team at Hillwood are truly exceptional partners, and we are building something permanent that will be the centerpiece for one of the most state-of-the-art studios in the business.”

The project received designation as a media production development zone (MPDZ) from Fort Worth in December, followed by approval from the Texas Film Commission and Texas Comptroller in January.

“This partnership reflects the strength of AllianceTexas and the leadership of Fort Worth in embracing new industries and opportunity,” Perot Jr. said. “We are proud to help bring major film and television production to North Texas through this collaboration with SGS Studios, and we are grateful to Lt. Gov. Dan Patrick, Sen. Joan Huffman and state Rep. Todd Hunter for their leadership in advancing the state’s film incentive legislation that will further diversify our economy and create long-term growth for our region and state. I am also especially pleased that the legislation includes added incentives for production companies to recruit and train veterans, given our longstanding commitment to supporting veterans as they transition into the civilian workforce.”

In addition to the campus, SGS has partnered with Tarrant County College to offer job training programs in set construction, grip and electric, post-production and stage operations. To date, the programs have trained more than 150 students with continued growth anticipated to reach 300 students.

“We are at a pivotal moment where Texas can become a global force in the film industry, and North Texas offers the location and resources to play a central role in this development,” Hillman president Mike Berry added. “We have the infrastructure in place to grow jobs exponentially and produce thousands of future film industry workers, and with our partners, we have already started providing training for the specialty skills this workforce sector requires. Doing this will allow us to further diversify North Texas’ economic impact and long-term success.”

The post Taylor Sheridan, Paramount Set Massive Texas Production Hub in Fort Worth appeared first on TheWrap.

Movie and TV watchers are used to seeing product placement, like Eleven’s Eggo fixation in “Stranger Things” or a bevy of items seen in “Love Island.” But a number of companies are taking a more active hand in how their brands are portrayed in shows and movies and getting into these productions earlier than ever.

They include Starbucks Studios, founded in 2024, REI-Co-Op Studios, which launched 2021, and Red Bull Studios Media House, which released its first feature film in 2011. Last week, Dick’s Sporting Goods launched its in-house production studio for unscripted sports-themed TV series.

These new movie and TV backers do more than pay a fee to place a product in the movie or buy a stand-alone commercial for TV — they’re getting involved in production from the get-go, offering input on script, casting, location and other factors to make sure the project aligns with company values. At times, the brand or brand studio is even offered a producer credit.

This trend marks the further blurring of lines between Hollywood and brands, expanding the role of companies and giving them more control over the content itself. It’s a concept that might have once mortified artists and audiences alike. But with traditional studios filling their slates with more blockbusters and superhero films than documentaries or auteur-driven dramas, these big brands are finding a warmer reception in the entertainment world.

“Thirteen years ago, when I started doing this, Hollywood and the traditional independent film industry, even internationally, was more resistant to the idea of brand-funded films,” Brian Newman, founder of Sub Genre, a consulting firm that guides brand partnerships, told TheWrap.”Whereas today, because the funding sources have been drying up, both in terms of equity investment and funding from streamers and distributors … they have less funding. People are turning to brands more openly.”

For example, multimedia companies like Sugar23 (in partnership with Fifth Season), are getting involved with new brand-focused entertainment divisions to produce movies and TV in partnership with said brands. Sugar23’s new ventures include its partnership with Starbucks Studios, Keanu Reeves and UltraBoom Media for the documentary “Madwoman’s Game.”

REI, a retailer of outdoor adventure clothing and gear, said that its studio would produce films, podcasts and editorial programs that celebrate the outdoors while “complementing the co-op’s broader climate and racial equity, diversity and inclusion commitments.”

Before launching the studio, REI associate-produced (with Public House Films and TBVE) “The Dark Divide,” a feature film about “the healing power of nature” directed by Tom Putnam and starring David Cross and Debra Messing. Productions under the company’s own banner so far fall more into the category of documentary shorts, including 2025’s “The Life We Have,” a life affirming 24-minute film on a man’s battle with Stage Four cancer exhibited at the Mountainfilm Festival in Telluride, Colorado.

Such an approach is radically different from well-known historical product placement deals such as Reese’s Pieces as a snack for E.T. (for which Hershey paid a widely reported $1 million in 1982) or the whopping $45 million reportedly paid by Heineken to appear as a martini alternative in the 2012 Bond film “Skyfall,” which featured a litany of others brands including Omega, Tom Ford and Sony.

A more recent example is this summer’s “F1.” The movie received roughly $40 million in funding from real-life brands by using their logos on the cars, racetracks and uniforms for the movie’s fictional APX-GP racing team, according to USA Today — even while the primary backer was Apple Original Films with distribution handled by Warner Bros.

Speaking of Apple, the tech company has its own list of do’s and don’ts for its entertainment division — you’ll never see a villain in an Apple film or TV show using an iPhone, for example.

Change of tone

Though the concept of inviting brand marketers into the creative process may seem cringe-y from an artist’s point of view, Hollywood is not apologizing for inviting even more brand influence into feature film and TV content than is already there.

As one producer told TheWrap: “Traditional Hollywood studios have notes all the time that writers don’t always love, but in this case they know what they’re in for … Brands are the benevolent enabler of that.”

L.A.-based actor and filmmaker Denzel Whitaker (best known for his role as James/Young Zuri in 2018’s “Black Panther”), would agree with that statement.

“As creatives, usually our biggest challenge is figuring out how to finance our journey,” the 35-year-old told TheWrap. “So if there is a corporate entity coming in saying, ‘Hey, we would love to finance that idea and we have this IP we would love to bring to the table and give you a shot at it,’ I don’t see anything wrong with that. I see immense value in that.

“When you want to sign to the major league, you got to play ball, do the interviews, wear the T-shirt, be part of the marketing,” he added. “If you are an artsy person who is passionate about their film and doesn’t want any sort of corporate input … you just might have to find alternate sources to fund your project.”

Not everyone sees anything new in this phase in the branding game.

Just ask UCLA lecturer and veteran producer Tom Nunan (“Crash,” “The Illusionist”). “It’s cyclical … It comes around every 10 or 20 years, and geniuses think I can do this better than Madison Avenue,” Nunan said. “And the deals that result from it are often few and far between.”

Nunan, founder and partner of Bull’s Eye Studios, said he started the studio with the idea of doing brand-oriented programming that would hit with advertisers, but found it too complicated to try to coordinate a show or movie’s story with a company’s own advertising and marketing campaigns. He pivoted back to more traditional script development and never looked back.

Sugar23 co-founder and CEO Michael Sugar would disagree with Nunan. He told TheWrap that the company’s new studio partnerships would serve to “build new bridges between advertisers and audiences.”

Sugar added that, at least in the streaming sphere, having brands ally themselves with the actual content in a “nuanced” way can allow them to connect brands with audiences that are increasingly resistant to traditional ads breaking into their entertainment experience.

He also pointed out that while buying an ad on a TV show gives a company 30 seconds of a viewer’s attention, a branded film or series allows for at least a half-hour of exposure to content that elevates the brand.

“Where I believe the evolution is going is that brands are going to enter entertainment the same way that a studio does — early,” Sugar told TheWrap. “What we’re trying to do is bring brands into a position of early authorship and early ownership, so they actually have a chance at a meaningful return on their investment — but more importantly that they have a seat at the table creatively to ensure that the content is really aligned with with their brand ethos.”

Which, according to Sugar and others, looks much different from seeing a Rolex on a vampire or a Microsoft computer in outer space. “We think a show is like a stadium,” he said. “It’ll look like Crypto.com Arena — the game is in the stadium, but LeBron James isn’t saying ‘buy Crypto’ every time he shoots a free throw.”

The funding gap

A key word here is “investment,” according to Sugar. Brand dollars might help fill the funding gap in a shrinking Hollywood. “The industry is in crisis, anyone who says otherwise is not paying attention,” he said. “Why we’re seeing this momentum is that mostly it’s a solution.”

Sugar declined to say who’s talking to Sugar23 about new projects due to NDA contracts, but insists that some big names are committing to brands. Naturally the bigger the name, the more likely that name will retain more creative control if the brand in question is wise enough to realize that that team’s creativity is more likely to bring eyes to the company than overt product placement would.

“Big stars recognize that the industry is broken,” he continued. A brand, he said, “is a partner to spend real dollars on marketing where the studio doesn’t.”

Big stars recognize the industry is broken.

-Michael Sugar

Sugar said that while he cannot reveal details of upcoming projects, “There has been no pushback from anybody” in terms of the artistic process. “The kind of stuff coming from us in the next few months is going to be very eye-opening in terms of the level of talent that’s involved,” he added.

Karbassioun of the new Magna Studios expressed a similar view. In what the company calls a “talent-first media model,” it has recently been joined by “Brutalist” director Brady Corbet and its roster of filmmakers includes Oscar Hudson, James Marsh and Sam Pilling.

“I think that’s the reality, with multi-screens and ad blockers, people are turning away from ads, and advertisers are desperate to find new ways to engage with their audiences,” Karbassioun told TheWrap. “It’s not a new conversation, but it’s one that I think is gaining momentum and maturity from the brands. That’s why we’re seeing this shifting right now.”

Corbet in June made a stir at the Cannes Lions International Festival of Creativity by revealing that the financial realities of working on his Oscar-nominated film “The Brutalist” meant working “for less than minimum wage.” So far the director has not announced any feature film projects backed by Magna but is working on ad campaigns with the company.

Still, there’s an older school of thought that building scripts around popular IP is more effective than relying on a branded studio name.

“The most successful collaboration between a brand and Hollywood has of course been Barbie,” Nunan said. “She was a singular figure in our pop culture, that doll.”

He cited Mattel’s smart move in allowing director Greta Gerwig freedom to play with Barbie’s image, including making fun of Mattel. Gerwig’s insolent take on the brand did not stop sales of the doll from jumping 14% after the movie came out.

Nunan expressed skepticism of the benefits of the more nebulous connection between a company and a positive message and noted that sometimes brand marketing is just lightning in a bottle. Producers of HBO’s hit series “The White Lotus” has used Four Seasons’ lavish resort properties to stand in for the fictional White Lotus hotels.

“Four Seasons isn’t writing HBO checks, or vice versa, and Four Seasons has nothing to do with the production of the show,” Nunan said. “However, both parties are benefiting from it. People are going on ‘White Lotus’ vacations now.”

Unlike Nunan, however, filmmaker Whitaker said he would indeed be influenced by a, say, REI Studios or Starbucks Studios credit on a positive film, even if it had nothing to do with the company’s products. He finds that idea less offensive than old-school product placement that might ask a filmmaker to shoot a coffee cup like a commercial.

“Maybe a car company gets behind a movie that has nothing to do with cars but they’re showcasing these beautiful travel destinations,” Whitaker said. “I’m going to be like, man, that was really cool of them to get behind that. And they didn’t throw it in my face … I’d think it was really dope of them to be selfless and make something that they just enjoy.”

The post Brands Are Buying Their Way Into Writers’ Rooms appeared first on TheWrap.

Starz saw revenue fall 8% year over year to $319.7 million amid a loss of $42.5 million as the company bled both linear and streaming subscribers as it reports results for the first time as a public company.

In the second quarter, the company lost 410,000 U.S. subscribers for a total of 17.6 million, driven primarily by a loss of 290,000 linear subscribers for a total of 5.4 million and a loss of 120,000 over-the-top subscribers for a total of 12.2 million. When including the loss of 110,000 subscribers in Canada, total North American subscribers fell 520,000 to 19.1 million.

OTT revenue for the quarter came in at $221.1 million, down from $234.4 million in the year ago period, while linear and other revenue fell to $98.6 million from $113.2 million a year ago.

Starz CEO Jeff Hirsch attributed the OTT subscriber losses during the quarter to the underperformance of “BMF” Season 4 compared to internal expectations. However, he told analysts that the company remains “laser focused” on making great stories to drive growth and said “Outlander: Blood of My Blood” is already exceeding expectations — generating the third highest number of subscriber additions for a Starz series premiere and a 40% increase in viewership compared to the last episode of “Outlander” Season 7.

“Importantly, we are adding these subscribers with higher price promotions than the prior season of Outlander,” Hirsch added. “Based on this momentum, we remain confident in our expectations of sequential revenue growth and OTT subscriber growth in the September and December quarters.”

Here are the quarter’s results:

Net loss: A loss of $42.5 million, compared to a profit of $4.2 million a year ago.

Earnings Per Share: A loss of 2.54 per share, compared to a profit of $1.80 per share expected by analysts surveyed by Zacks Investment Research.

Revenue: $319.7 million, down 8% year over year, compared to $329.2 million expected by analysts surveyed by Zacks Investment Research.

Operating loss: A loss of $26.9 million, compared to a profit $10.1 million a year ago.

Adjusted OIBDA: $33.4 million, compared to $56.3 million a year ago.

In addition to “Outlander: Blood of My Blood,” other upcoming titles include the return of “Power Book IV: Force” and “Raising Kanaan,” the premiere of “Spartacus,” the final season of “Outlander,” “P-Valley” Season 3 and the launch of the 18-episode prequel series “Power: Origins.” It will also have its first owned-and-produced series “Fightland,” whose per episode costs are 30% lower than other Starz series’ first seasons in the past couple of years, per Hirsch.

Starz previously said it would spend $700 million on content in 2026, with the ultimate goal of lowering that figure to $600 million to $650 million over the next couple of years. It is aiming to have four shows, or half of its slate, be owned titles by 2027.

“This is a key tenant to our investment case and bolsters our confidence that we can reach our 20% margin target run rate coming out of calendar year 2028,” Hirsch added.

Starz’s latest quarterly results come three months after it officially split from Lionsgate into a separate, publicly-traded company. Hirsch said he believes the company is the “most misunderstood and undervalued” stock in the media sector. 

“We see our current valuation of approximately four times adjusted [operating income before depreciation and amortization] as very attractive,” he added. “We believe this valuation disconnect will become more apparent in the coming quarters when several large media companies spin off their linear networks into standalone public companies.”

Starz reiterated previous guidance of approximately $200 million in adjusted OIBDA in calendar year 2025 and plans to convert 70% of its adjusted OIBDA to free cash flow during calendar year 2026.

When asked about M&A, Hirsch said that Starz is a “very valuable asset” but is also a “very strong platform to scale around.” He said there would be “a lot of opportunity” to scale its business in the next 12 to 24 months as its peers in the media space, such as Comcast and Warner Bros. Discovery, separate parts of their businesses into standalone, publicly-traded companies.

Starz, which has a market capitalization of $256.85 million as of Thursday’s close, has seen its shares climb 24% since the split. However, its stock is down 10% in the past month.

The post Starz Posts Q2 Loss of $43 Million, Sheds 410,000 U.S. Subscribers appeared first on TheWrap.

The streamer touted year-over-year growth in key categories such as retail, consumer packaged goods, telecommunications, health & wellness, entertainment and technology. Its 2025-26 slate includes the final season of “Stranger Things,” new seasons of “Bridgerton,” “Emily in Paris,” “Nobody Wants This” and “Running Point” and the untitled Will Ferrell-led golf series.

It also said it has sold out all available in-game inventory for its pair of NFL Christmas Day games and closed sponsorships for the event with partners including Accenture, FanDuel, Google and Verizon on in-game and broadcast features. Additionally, Netflix will partner with DoorDash as the presenting sponsor for the 2025-26 season of “WWE Raw.” 

In May, Netflix revealed that its ad tier, which accounts for over 50% of new sign-ups in the 12 markets where its available, surpassed 94 million monthly active users. The company raised the price on the ad tier for the first time in January to $7.99 per month.

Netflix’s in-house ad-tech platform has also rolled out in all markets where the ad tier is available. Additionally, the company previously unveiled new interactive midroll and pause ad formats incorporating generative AI, which will be available by 2026 in all ad-supported markets, and inked partnerships with Yahoo DSP, iSpot, Australia’s OzTAM and Kantar IBOPE Media.

The company continues to expect that it will roughly double ads revenue in 2025 as it scales its ad-supported offering.

“We are committed to building a long-lasting ads business that not only drives impactful return on investment for our clients but also offers an entertaining and relevant experience for our members around the world,” Netflix ad president Amy Reinhard said in a statement. “As we head into our third year of business this fall, we can’t wait to continue to deliver a must-buy opportunity with leading technology centered around our must-watch Netflix series, films and live events.”

Netflix is the latest to close its upfront negotiations. TelevisaUnivision touted “historic” volume driven by its ViX streaming service, which recently surpassed 10 million subscribers globally. However, overall volume was flat compared with the previous year.

Disney, which touted increased sales in sports and streaming, also saw overall volume consistent with the previous year. Streaming accounted for over 40% of total upfront volume, while sports ad volume across linear and addressable hit nearly $4 billion.

Fox exceeded $2 billion in upfront revenue on core properties, excluding the World Cup, representing double-digit growth year-over-year. It also saw Tubi’s volume of upfront ad dollars committed grow by 35% year-over-year. 

NBCUniversal saw a 15% increase in commitments across its broadcast offerings, including news, sports and entertainment, and touted its largest digital upfront and strongest sports upfront in history, though it offered no hard numbers.

Peacock saw an over 20% year-over-year increase, representing nearly a third of the media giant’s total upfront commitments. The company’s new 11-year media rights deal with the NBA contributed to a 20% increase in new clients compared to the 2024-25 season and a 45% year-over-year increase in volume. Over 25% of NBCUniversal’s NBA advertisers will be new to broadcast this year. Bravo represented nearly 20% of the company’s entire entertainment demand across broadcast and cable and Versant saw a nearly 10% increase in clients investing in its brands.

When asked about the upfront during their second quarter earnings call, Warner Bros. Discovery chief financial officer Gunnar Wiedenfels acknowledged that the company had concerns going into the year due to macroeconomic and geopolitical uncertainty, but that the ad market “held up very well.”

“We’ve seen prices up across all categories, more so in sports than in general entertainment. On the digital side, there is some price pressure, but we’ve maintained a very strong price premium for the quality of inventory that we’re delivering,” he explained. “So net-net, I’m very happy with the outcome.”

Overall, ad dollars committed to broadcast primetime fell 2.5% to about $9.1 billion and cable fell 4.3% to nearly $8.68 billion, according to Media Dynamics Inc., which tracks upfront spending. Meanwhile, streaming rose 17.9% to $13.2 billion. The total value of upfront commitments rose 5% to nearly $31 billion.

The post Netflix Closes 2025 Upfront With Ad Commitments More Than Doubling appeared first on TheWrap.

The first round, held in New York on Thursday — the same day the merger with Skydance closed — focused more on the bigger corporate picture and financial aspect of the new company. Wednesday’s conversation, held on the Paramount lot in Los Angeles, leaned more into specific plans for content.

Having the right strategy for TV and film will be critical as the company looks to build up its streaming services, Paramount+ and Pluto TV, in an already crowded field of entertainment options, all while trying to slow the declines in its legacy broadcast and cable businesses.

At the same time, the leadership team expects to exceed the $2 billion in merger cost savings it previously targeted all while investing in more content and fostering relationships with big-name talent.

The executives were on Day 6 of the merger, so couldn’t offer many specific details on how exactly they’d get all of this accomplished. But here are the most interesting nuggets we rounded up from our time with them:

• Paramount wants to emulate the recommendation of social networks like TikTok
• Paramount+ isn’t interested in made-for-streaming films
• BET isn’t going to be put up for sale
• The executive team will lean on its relationships to court talent
• The team expects to put out 20 theatrical films a year
• Ellison offers a very specific example of how AI may be used
• Major backer Gerry Cardinale wants to send a message to Hollywood about how to go big

The hidden benefits of merging platform tech

Ellison has talked at length about Paramount’s plans to merge the underlying platforms running its three streaming services, Paramount+, Pluto TV and BET+, noting the dynamic of running three separate platforms is both “wildly ineffective” and “wildly inefficient.”

Cindy Holland, the new head of the direct-to-consumer business for Paramount, talked about the other benefits, including what this means for being able to tap into the data from users who watch multiple platforms. All of that data could yield better recommendations and offer better signals on what people want to watch.

Holland acknowledged that Paramount+ wasn’t there when it came to its ability to recommend content. “We don’t want to make our viewers do homework,” she said.

Her goal was for these services to be on par not just with other streamers, but social media platforms like YouTube and TikTok, whose algorithms are particularly adept at moving you from piece of content to another.

Beyond recommendations, even having the ability to offer a single sign-on for multiple services is a feature that just makes sense, she added.

Paramount+ isn’t interested in movies

Holland was blunt about the kind of content she wants to see on Paramount+: “Made-for-streaming movies are not a priority for me.”

Dana Goldberg, co-chair of Paramount Pictures and chair of Paramount Television, reiterated this notion, saying history has shown that streaming movies have failed to make any real cultural impact.

When asked about “KPop Demon Hunters,” which has made waves on Netflix and has been a massive global hit, Goldberg said that animated film has proven to be the exception to the rule (she also challenged anyone to name a live-action streaming film that has had that level of success).

President Jeff Shell said that he still believes in a window for theatrical releases to eventually land on streaming, so the service will still have its fill of movies, just after robust theatrical releases (more on that in a moment).

Keeping Paramount intact

Ellison shot down the notion that BET would be shopped around to outside buyers.

“What I would say is, like we said in the conversation with Shari [Redstone] when we had the first meeting about the company, our intention is to keep the company together and invest through the lens of long-term operation,” he said.

Shell also called it a “pretty important building block of our streaming strategy.”

Chief Operating Officer Andy Gordon noted that he believes every asset at Paramount is under-appreciated, suggesting there won’t be a rush to jettison anything.

“Finding opportunities to light everything up in the right way is our job,” he said.

A home for top-tier talent

Ellison talked about turning Paramount into the No. 1 destination for talented artists. What’s the secret to getting them to listen?

“Our relationships,” Goldberg said, adding that she and co-chair Josh Greenstein, who joined from Sony Pictures, have had decades of experience working with talent. She said she’s already talked to a number of people, but declined to name names beyond the recently announced project with Timothée Chalamet and filmmaker James Mangold.

Her goal is for Paramount to be a one-stop shop for filmmakers looking to make animated films, live-action films and more.

A full film slate

Getting that talent will be key with Paramount setting a goal of producing 20 films a year — and bringing them all to theaters.

Goldberg said she was keen to return to the “four quadrant family movie,” citing “Goonies” and “Gremlins” as examples of films that everyone in a family can get something out of.

Greenstein said he also wants to see more original films in addition to IP such as “World War Z” and “Star Trek.”

Goldberg noted that “Transformers” represented a “huge opportunity,” but that she knows the studio needs to get the film right, which will depend on the filmmaker.

Paramount’s last take, the animated “Transformers One,” was a financial failure despite getting love from hardcore fans. There are multiple takes on a new “Transformers” film in the works as TheWrap reported, including one potentially bringing back Michael Bay as a director.

On AI

Ellison said Paramount will embrace AI, but as a tool for creators.

He gave a specific example of what potential use of AI he sees for the company. Ellison’s daughter is a fan of “Paw Patrol,” and he said the industry is potentially three years away from her being able to talk to Sky, the pink-outfitted dog from the show, in a real-time AI-generated conversation for 20 minutes.

“We have to acknowledge that it’s a technology that’s evolving faster than anyone in Hollywood thinks it is,” he said.

Message to Hollywood

Gerry Cardinale, whose RedBird Capital is another major financial backer of the deal, sat to the side of the audience while Ellison and his leadership team fielded questions from journalists, but chipped in with a message to the entertainment industry, noting that everyone seems to be afraid of investment.

Noting the Ellison family and his own stake in Paramount, he said this is the first time a media CEO isn’t playing with other people’s money and will be bringing a new level of financial discipline to bear.

“We’re going to rebuild the culture not just for Paramount, but Hollywood,” Cardinale said. “We’re going to invest a lot of money and show a great return on investment.”

The post New Paramount Speaks: Theatrical Films, Streaming Investment and Tech Upgrades Are Top Priorities appeared first on TheWrap.

“Deportes Ahora” will be available on Peacock, Xumo Play, the NBC News FAST Hub and Telemundo.com starting Aug. 14, with some content livestreaming on YouTube. Over the coming months, it will roll out on additional platforms.

It will feature over 50 hours of new Spanish-language content weekly, including original programming, live shows and select live sporting events, including Básquetbol LATAM, MMA events, bare-knuckle boxing and Pro-Paddle League.

Talent appearing on the FAST channel includes Andres Cantor, Carlota Vizmanos, Diego Balado and Luis Omar Tapia, who will expand their Premier League coverage; Jorge Calvo, José Luis López Salido, and Miguel Gurwitz, who will provide additional Liga MX content; and Isabella Echeverrim who will supplement U.S. Soccer programming.

New daily live shows will include the sports news program “Telemundo Deportes Al Día” at 1 p.m. ET hosted by Carmen Boquín; debate and analysis program “Puesta a Punto” at 6 p.m. ET, and late night sports program “El Pelotazo Ahora” at 11 p.m. ET hosted by Diego Arrioja, Pablo Mariño and Verónica Rodríguez with regular contributions by Adriana Monsalve.

It will also offer original programming around key sports properties, such as Fútbol MX, Fútbol US Soccer and Tercer Tiempo Ahora, Zona de la Premier League, Historias y Leyendas de la Premier League, Previa de la Premier League, Repaso de la Premier League, Campeones de la Premier League.

Additionally, it will include weekly original offerings such as “Panorama Deportivo,” a comprehensive look at the U.S. sports landscape hosted by Jorge Calvo; “Somos o No Somos,” an opinion-driven talk show hosted by Gurwitz; and “Mundo PX Sports,” which offers news, highlights, exclusive interviews and mini-docs.

“With Telemundo ‘Deportes Ahora,’ we’re giving Hispanic audiences another way to connect with the sports they love, complementing our sports offering and enhancing their viewing experience on the road to World Cup and beyond,” Telemundo Sports executive vice president Joaquin Duro said in a statement.

There are currently more than 63 million Latinos in the U.S. today, with projections indicating that 1 in 5 Americans will be Latino by 2030. Telemundo estimates that 32 million bilingual Latinos ages 18 to 49 are driving demand for free, on-demand content.

In addition to Deportes Ahora, Telemundo’s FAST lineup includes the news, entertainment, reality and sports channel Telemundo Al Día, the 24/7 Spanish-language news channel Noticias Telemundo Ahora, the high-energy action series channel Telemundo Acción and the courtroom show channel Caso Cerrado.

The post Telemundo Launches Sports-Focused FAST Channel ‘Deportes Ahora’ appeared first on TheWrap.

The investor group, which was first revealed in March, includes current Celtics governor and CEO Wyc Grousbeck, current Celtics owner Rob Hale, Related Companies president Bruce A. Beal, Jr. and the investment firm Sixth Street.

Boston Basketball Partners LLC first announced plans to sell the team in July, noting that the Grousbeck family was doing so due to “estate and family planning considerations.”At the time, it said that the sale would happen in two phases, with the majority interest sold in 2024 or early 2025 and the balance closing in 2028.

Grousbeck was expected to continue as CEO and governor through the 2027-2028 NBA season. But, in a change from the original plan, Sportico reports that Chisholm will serve as governor instead.

BDT & MSD Partners, J.P. Morgan and the Jordan Park Group acted as financial advisors and Cooley LLP is served as legal counsel to the Grousbeck family and the Boston Celtics. Goldman Sachs acted as exclusive financial advisor and Wachtell, Lipton, Rosen & Katz served as legal counsel to the investor group.

The Grousbeck family has owned the Celtics since 2002. The team has won 18 championships, the most in the history of the NBA.

Chisholm is the co-founder, managing partner and chief investment officer of STG. He has led many of the firm’s investments, including AFS Technologies, Aldata, Cadmium, CAI Software, Capco, CoreOne, Dodge Construction Data, eProductivity Software, First Advantage, IMI, Intentia, GERS, IRi, JobRapido,  Skyhigh Security and Trellix, MSC Software, RSA, Symphony Services, Symphony Talent, Symphony Marketing Solutions, Trace One, Ventiv, and Winshuttle. Prior to co-founding STG, Chisholm co-founded The Valent Group and also worked at Bain & Company and PaineWebber, Inc.

The 80th NBA season will tip off on Oct. 21 on NBC, who struck an 11-year media rights deal with the league that runs through 2036. The league’s other media partners include Disney’s ESPN/ABC and Amazon.

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“What I would say is, like we had in the conversation with Shari [Redstone] when we had the first meeting actually about the company, is our intention is to keep the company together and invest through the lens of long term operation,” the executive told journalists during a press conference on Wednesday in Los Angeles.

The remarks come after Paramount previously backed off talks to sell its majority stake in BET in 2023. At the time, the company had received interest from Tyler Perry, Allen Media Group founder Byron Allen and Miami-based media company Group Black. Perry publicly criticized the previous bidding process, calling it “disrespectful” at an event hosted by Bloomberg in October of that year.

Speculation about a sale was renewed in July 2024, when Bloomberg reported that a group that included BET CEO Scott Mills and Chinh Chu, founder and senior managing director of the New York-based private equity firm CC Capital were in talks to acquire BET.

BET was first launched in 1980 by founder Robert Johnson as a channel specifically aimed at Black audiences. Paramount would then acquire it for $2.3 billion in 2000. BET Media Group includes the BET, BET Gospel, BET HER, BET International, BET Jams and BET Soul channels, BET Studios, streaming service BET+ and VH1.

Ellison’s comments on BET echo New Paramount president Jeff Shell, who told TheWrap at a media briefing last week that a spinoff of its cable network portfolio doesn’t make sense for the company.

Chief strategy and operating officer Andy Gordon told reporters at the New York event that there’s “probably a place” for brands like MTV and Comedy Central to exist outside of the linear world where they can be “invested in and flourish.”

However, Shell said potential sales of assets in its real estate portfolio remain “on the table,” such as National Amusements’ portfolio of movie theaters. However, the legendary Hollywood lot in Los Angeles and CBS Broadcast Center in New York City are expected to be safe.

Shares of Paramount finished Wednesday’s trading session up more than 36%, closing at $15 apiece.

The post BET Networks Is No Longer for Sale, David Ellison Says appeared first on TheWrap.

The suit, filed under seal in the Delaware Court of Chancery on behalf of Gabelli’s Value 25 Fund, its affiliates and approximately 750 separately managed GAMCO advisory clients who held Paramount’s Class A shares, follows the closing of the $8 billion deal last week.

In a statement, GAMCO Investors’ co-CIO Chris Marangi said the firm voiced its concerns early in the merger process, asking for more transparency regarding what NAI was receiving for Redstone’s voting shares. It also asked that the merger be put to a vote by the company’s minority shareholders.

“These concerns were ignored and, lacking the ability to continue holding voting shares in the new Paramount entity, GAMCO was forced to redeem its shares for cash,” Marangi added. “We now look to the courts to rectify the situation.”

Gabelli previously filed an initial books and records request in July 2024. He would subsequently file a formal complaint under a Section 220 demand in an effort to force Paramount to comply with his request.

Following a trial, a judge from the Delaware court determined that Gabelli’s Value 25 mutual fund “stated and proved a credible basis to suspect wrongdoing,” but stopped short of ordering Paramount to provide any additional documents. As of Jan. 31, Paramount produced nearly 6,000 pages of records for Gabelli’s initial request. As of March 19, he’d received nearly 10,000 of those documents, which included board and committee-level minutes and materials, director questionnaires and draft public filings.

GAMCO argues that, based on public documents and disclosures produced by Paramount’s special committee, it appears that the company assigned no value to NAI’s non-Paramount assets and that Redstone received in excess of $60 per share for her Class A shares, while GAMCO and other Class A shareholders received $23 per share.

Per a 13D filing with the U.S. Securities and Exchange Commission, Gabelli’s firm owned 4.89 million Class A shares, or 12.03% of Paramount’s voting stock, as of May 5. Gabelli elected cash over shares in New Paramount. Based on the $23 per share price, his voting stake would be worth $112.6 million.

Representatives for New Paramount and Redstone declined to comment.

Under the two-step deal, Skydance acquired NAI, which controls 77.4% of the Paramount Class A common stock outstanding and approximately 9.5% of the overall equity of the company, before merging with the Hollywood studio.

The deal provided $2.4 billion for NAI, $4.5 billion to non-NAI Paramount shareholders and an additional $1.5 billion in new capital to help pay down debt and recapitalize the company’s balance sheet. Redstone received approximately $1.75 billion for her controlling stake.

Class A shareholders were given the option to elect to receive $23 cash per share or 1.5333 shares of Class B stock of New Paramount, while Class B shareholders had the option to elect to receive $15 per share or one share of Class B stock of New Paramount, which is subject to proration if those elections exceed $4.3 billion in aggregate. If shares were elected over cash — reducing the cash required to under $4.3 billion — the $1.5 billion of cash going to Paramount’s balance sheet could grow up to a cap of $3 billion.

Skydance’s consortium of investors, which includes RedBird Capital Partners and the Ellison family, control 70% of shares outstanding and have 100% voting ownership in New Paramount. The combined company has an enterprise value of $28 billion, while Skydance is being valued at $4.75 billion.

In addition to Gabelli, the court previously granted the request of another Paramount shareholder, The Employees Retirement System of Rhode Island, to obtain books and records related to the Skydance deal.

Paramount shares, which now trade under the ticker symbol PSKY, have climbed 40% during Wednesday’s trading session and are up 32.9% in the past five days.

The post Mario Gabelli Sues Paramount, National Amusements Over ‘Unfair and Inequitable’ Merger Payout appeared first on TheWrap.

Ayaz will now serve as Disney Entertainment marketing president, overseeing marketing across studios, television and streaming and reporting directly to the division’s co-chairs Alan Bergman and Dana Walden. He will also continue to drive brand strategy under CEO Bob Iger, including leading the company’s in-house creative agencies for Disney Experiences and Disney Entertainment, Yellow Shoes and The Hive.

Meanwhile, Ryan will continue leading marketing for television content and add direct-to-consumer marketing to her portfolio, overseeing a newly integrated team across Disney+ and Hulu. She will report to Ayaz and will remain on Walden’s leadership team. Hulu marketing chief Barrie Gruner and Disney+ marketing chief Samantha Rosenberg will both report to Ryan moving forward.

“Operating as one cohesive DTC marketing team will enable us to speak to consumers with greater efficiency and impact, and this new structure will also create a deeper connection and collaboration across all of our marketing efforts,” Bergman and Walden said in a memo to staff. “These changes reflect our confidence in the exceptional talent across our marketing organization, and we’re excited for what’s ahead. We are grateful for your continued creativity, passion, and partnership as we shape the future of Disney Entertainment together.”

A 20-year Disney veteran, Ayaz has shaped marketing strategies for some of the most successful film releases in history, including nine of the top 15 box office debuts of all time, and 18 films that have passed the $1 billion mark at the global box office since he began overseeing marketing for the studio.

Key campaigns include Disney’s live-action hits “Lilo & Stitch” and “The Lion King;” Disney Animation’s “Moana 2”, “Encanto,” and “Frozen II;” Pixar’s “Toy Story 4” and “Inside Out 2;” Marvel’s “Deadpool & Wolverine,” “Avengers” and “Black Panther” films; Lucasfilm’s “Star Wars: The Force Awakens;” and 20th Century Studios’ “Kingdom of the Planet of the Apes,” “Alien: Romulus” and “Avatar: The Way of Water.”

He also has overseen content, brand and performance marketing for streaming, including campaigns for Disney+’s “The Mandalorian,” “Andor,” “Agatha All Along,” WandaVision,” “Loki,” The Beatles: Get Back” and the launch of Taylor Swift’s The Eras Tour. Ayaz also led the Disney100 brand campaign celebrating The Walt DisneyCompany’s 100th milestone, the international expansion of D23: The Ultimate Disney Fan Event into Brazil, and the brand integration of Disney+ and Hulu, and is currently overseeing the creative campaign for Disneyland’s 70th anniversary.

Ryan has led marketing and publicity strategies for Disney+ and Hulu as well as TV content across ABC Entertainment, ABC News, Disney Branded Television, Freeform, Hulu, National Geographic, Onyx Collective and Disney Television
Studios, which include 20th Television and 20th Television Animation.

Campaigns during her tenure have included ABC’s “9-1-1,” “Abbott Elementary,” “The Bachelor” franchise, “Grey’s Anatomy,” “High Potential” “Jimmy Kimmel Live” and “The Oscars”; Hulu originals “Good American Family,” “The Handmaid’s Tale,” “The Kardashians,” “Only Murders in the Building,” “Paradise” and “The Secret Lives of Mormon Wives”; Disney Branded Television’s “Bluey” and “Percy Jackson and the Olympians”; the Oscar-nominated National Geographic feature documentary “Sugarcane” and “Limitless” starring Chris Hemsworth; Onyx Collective’s “Deli Boys” and “Reasonable Doubt”; and the syndicated show “Live with Kelly and Mark,” among others.

Prior to Disney, Ryan served as chief marketing officer of the Fox Television Group, a post she had held since 2015. In that role, she oversaw all creative, media, social, digital and affiliate marketing, as well as strategy, brand partnerships, publicity, corporate communications, creative services and talent relations. During her tenure at Fox, she oversaw campaigns for “24,” “9-1-1,” “Brooklyn Nine-Nine,” “Empire,” “Glee,” “House,” “Last Man on Earth,” “The Masked Singer,” “The Mindy Project” and “New Girl.”

In its third quarter earnings for 2025, Disney+ and Hulu swung to a profit of $346 million, , compared to a loss of $19 million in the year-ago period, and saw revenue grow 6% to $6.2 billion, driven by price increases and subscriber growth. Together, the streaming services added 2.6 million subscribers for a total of 183.3 million. When including ESPN+’s 24.1 million subscribers, the total count across the three services is 207.4 million.

As part of the integration, Hulu will replace the Star tile on Disney+ in international markets starting in the fall. Work is also underway to make various technical improvements in the Disney+ app, including new features and a more personalized home page. Disney plans to launch a unified, standalone Hulu-Disney+ streaming app in 2026.

Looking ahead, Disney expects to add more than 10 million subscribers in the fiscal fourth quarter, with the majority of the increase coming from Hulu as a result of its expanded deal with Charter Communications. Disney+ subscribers are expected to see a modest increase from the third quarter.

Disney+ and Hulu will also stop reporting subscriber and average revenue per user figures starting in the first quarter of fiscal 2026, while ESPN+ will stop in the fiscal fourth quarter of 2025.

Read the full memo from Walden and Bergman below:

Team,

Disney Entertainment is home to an iconic and acclaimed collection of storytelling brands, and our marketing teams play a vital role in bringing the magic of Disney storytelling to audiences around the world. As we continue to scale our business globally, we’d like to share an update about the future of our marketing structure, particularly focused on supporting the full integration of Hulu into Disney+ that Bob announced during earnings last week.

To create a more unified strategy across streaming, film, and television, we’re realigning our marketing organization to create one best-in-class Disney Entertainment Marketing team under the leadership of Asad Ayaz, who will now report to the both of us. Asad is a strategic leader with sharp creative instincts who has been instrumental in driving high-impact campaigns at both the company and the Studio. As Chief Brand Officer, TWDC, and President, Disney Entertainment Marketing, he will now oversee marketing for our studios, television, and streaming, while continuing to drive brand strategy for the company under Bob Iger, including leading our in-house creative agencies for Disney Experiences and Disney Entertainment. This dual role will further connect all the company’s consumer touchpoints and align our marketing approach.

Shannon Ryan will add DTC to her portfolio and oversee a newly integrated team across Disney+ and Hulu, while continuing to lead marketing for television content. Shannon is a dynamic marketing leader with a proven track record of crafting innovative campaigns that resonate with audiences and create breakout hits. As President, DTC and Disney Entertainment Television Marketing, she will now report to Asad, while remaining on Dana’s leadership team. Barrie Gruner and Samantha Rosenberg will both report to Shannon moving forward.

Operating as one cohesive DTC marketing team will enable us to speak to consumers with greater efficiency and impact, and this new structure will also create a deeper connection and collaboration across all of our marketing efforts. These changes reflect our confidence in the exceptional talent across our marketing organization, and we’re excited for what’s ahead. We are grateful for your continued creativity, passion, and partnership as we shape the future of Disney Entertainment together.

Alan & Dana

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