It’s a comparatively tiny deal, but it gives Harry Sloan and Jeff Sagansky’s Global Eagle Entertainment valuable bragging rights in this fast-growing corner of the business. They actually paid $36M in cash for the UK’s Travel Entertainment Group Equity Limited. It’s the parent of IFE Services which offers movies including The World’s End, The Heat, World War Z, and The Great Gatsby as well more than 20,000 hours of TV programming including The Newsroom to airlines in Asia, South America and Africa. The purchase “will significantly enhance our presence in multiple fast-growing, emerging markets where our combined service offerings are in demand,” says Global Eagle CEO John LaValle. To help finance the deal, Global Eagle sold $21M worth of its stock to an existing institutional shareholder. It will give another existing investor, PAR Investment Partners, a $19M promissory note convertible into non-voting shares.
Global Eagle Entertainment, the inflight entertainment company created last November by Hollywood veterans Harry Sloane and Jeff Sagansky, has added Post Modern Group to the company portfolio. The $24M deal expands Global Eagle’s relationships with international airlines …
The Hollywood veterans’ publicly traded Global Eagle Acquisition has agreed to offer stock valued at $430M to buy two companies that will give them a leg up in the fast-growing inflight entertainment business. They’re acquiring Row 44, a satellite connectivity firm, and content company Advanced Inflight Alliance. The combined enterprise will trade on NASDAQ. “This is exactly the kind of worldwide digital media opportunity we’ve been seeking for Global Eagle since our IPO; and this is also a platform for Jeff and me to utilize our media and content relationships and experience to drive expansion and enhancement of inflight content and programming around the world, ” says Global Eagle CEO Harry Sloan who was formerly chief of Metro-Goldwyn Mayer Studios. His company’s co-founder, Jeff Sagansky, was a top exec at Sony Pictures and CBS.
Here’s the release:
BREAKING: An announcement just went out that Jean-Luc De Fanti, Jeff Sagansky and Eli Baker have launched the Hemisphere Tentpole Co-Financing Fund, a revolving equity and debt fund that intends to co-finance 12-16 films over a four- to five-year period. They start with last weekend’s The Smurfs, and the upcoming The Adventures of Tin Tin, Men In Black 3 and World War Z. My colleague Nikki Finke broke most of this stuff last week, when she wrote that Sagansky, De Fanti and Baker’s Winchester was behind the co-financing effort. They are simply calling it by another name. The new wrinkle is World War Z, the Brad Pitt zombie movie. Paramount insiders said there was another financing entity besides the studio and David Ellison’s Skydance that got the $125 million movie moving, but they wouldn’t reveal the funding source. Obviously is was Hemisphere. Here’s the official release:
EXCLUSIVE UPDATE: The deal is for these three movies: The Smurfs (Sony Pictures, which opens Friday), Men In Black 3 (Sony Pictures), and The Adventures Of Tintin (Paramount Pictures). I’ve learned that Jeff Sagansky of Winchester Capital closed financing for $150 million today. [Mea Culpa: I initially thought this …
EXCLUSIVE: Few showbiz execs have held as many top jobs as Jeff Sagansky. Now the former CBS and Sony Pictures and Paxson and RHI exec is back in the movie biz in a big way. Institutional investors are backing Hemisphere Media Capital, the new venture from Winchester Capital Management founders Jean-Luc De Fanti and Sagansky. Japanese distributors Toho-Towa and Kadokawa Pictures and Singapore-based producer/talent manager RGM Media are also on board. Hemisphere is in talks with a number of studios and plans to announce its first investments shortly. The Hemisphere Motion Picture Partners fund expects to invest more than $400 million in 8-10 movies over 4 years.