Check Out Our New Look

Global Eagle Entertainment Taps Dave Davis To Be CEO

global eagleTo refresh everyone’s memory: Global Eagle is the airline entertainment and Internet company founded by former CBS and Sony exec Jeff Sagansky and former MGM chief Harry Sloan. They, along with others on the board, just gave the company’s pilot wings to Dave Davis, who was CFO and COO after serving for years as CFO of Northwest Airlines. He spent most of his career in finance, and helped Northwest navigate its merger with Delta. Davis replaces John LaValle, who will continue to serve the company as a consultant.

“I initially invested in Global Eagle because I saw so much potential for delivering content thru digital delivery to airline passengers getting connected ” Sloan says. “Since then, Global Eagle has become the dominant player in delivering movies, TV series and games to the commercial airline industry. As airline connectivity becomes more ubiquitous around the world, the demand for content will be even greater, and Dave’s excellent relationships with the airlines will serve Global Eagle well, as he leads our expansion.”

Davis may have to steer  Global Eagle through some choppy air. The company’s stock price is -23% so far in 2014 as it competes with rivals including Gogo and Panasonic to connect and serve planes in flight. But Global Eagle — which reaches planes via satellite transmissions, not terrestrial ones – hopes to gain altitude from a deal to serve Southwest Airlines, and other overseas airlines. The company reported a loss of $26.3M on revenues of nearly $86M … Read More »

Comments (0)

Global Eagle Becomes Top In-Flight Entertainment Provider With $36M Deal For IFE Services

By | Monday October 21, 2013 @ 9:30am PDT

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.

Related: Sloan And Sagansky Pay $430M To Create Inflight Entertainment Colossus

Comments (0)

Jeff Sagansky And Harry Sloan Raise $325M As They Take Acquisition Company Public

Their business, Silver Eagle Acquisition Corp., is a special purpose acquisition company (SPAC). It will use the cash from today’s IPO to hunt for deals — mostly likely ones that capitalize on their experience in content creation, although they say that they’ll consider other “high growth potential” opportunities.Jeff Sagansky formerly was CEO of Paxson Communications, Co-President of Sony Pictures Entertainment, and President of CBS Entertainment, while Harry Sloan formerly was CEO of MGM. In the IPO they sold 32.5M shares at $10 a share, and the stock — trading on NASDAQ under the symbol EAGLU — is up a few pennies in mid-day trading. Each share also includes a warrant to buy a half of a share for $5.75. Deutsche Bank Securities managed the offering. 

Comments (1)

Jeff Sagansky And Harry Sloan Plan Public Offering For Silver Eagle Acquisition Corp.

By | Thursday July 11, 2013 @ 9:21am PDT

NEW YORK, NY July 11, 2013 – Silver Eagle Acquisition Corp. (the “Company”), an acquisition vehicle formed by media executives Harry E. Sloan and Jeff Sagansky, announced today that it intends to commence its initial public offering of 25,000,000 units at $10.00 per unit. The Company intends to grant the underwriters a 45-day option to purchase up to 3,750,000 additional units. Each unit issued in the initial public offering will consist of one share of the Company’s common stock and one warrant to purchase one half of one share of common stock at an exercise price of $5.75 per half share.

Silver Eagle Acquisition Corp. was formed for the purpose of acquiring one or more businesses through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. Its efforts in identifying a prospective target business will be focused on, but not limited to, the media and entertainment industries. The Company’s sponsor is Global Eagle Acquisition LLC, which was also the sponsor of Global Eagle Acquisition Corp.

Deutsche Bank Securities Inc. is acting as the sole book runner for the proposed offering.

Comments (1)

Inflight Entertainment Specialist Global Eagle Acquires Post Modern Group For $24M

By | Wednesday July 10, 2013 @ 5:00am PDT

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 and provides entry into the cruise line and other non-theatrical markets. Post Modern Group provides digital media production, post-production and digital content delivery services for use in inflight entertainment systems. Its clients include Hollywood studios and distributors, ad agencies, major corporations, government entities, airlines and cruise lines. It is expected to generate over $35M in revenues in 2013 and more than $4.5M in full year pre-tax earnings.

Comments (0)

Harry Sloan And Jeff Sagansky Pay $430M To Create Inflight Entertainment Colossus

By | Thursday November 8, 2012 @ 10:21am PST

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: Read More »

Comments (5)

Jeff Sagansky Launches Hemisphere Capital Management To Stake Feature Film Slate

By | Tuesday August 2, 2011 @ 11:52am PDT
Mike Fleming

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: Read More »

Comments (3)

Jeff Sagansky’s Winchester Capital Closes 3-Movie Financing Deal

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 was a deal with Harry Sloan and Jeff Sagansky because the pair recently announced Global Eagle Acquisition Corp. But this is unrelated.] Sagansky, the former CBS and Sony Pictures and Paxson and RHI exec, has come back to the movie biz in a big way with Winchester Capital Management co-founder Jean-Luc De Fanti. Movies that Sagansky and De Fanti co-financed through Winchester include The Men Who Stare at Goats and The Private Lives of Pippa Lee. Winchester also financed the third season of TNT TV drama Leverage and arranged a multi-picture financing deal for Luc Besson’s EuropaCorp.

Comments (11)

Harry Sloan And Jeff Sagansky’s Global Eagle IPO Raises $190 Million

By | Wednesday May 18, 2011 @ 9:00am PDT
Mike Fleming

LOS ANGELES, CA, May 18, 2011 – Global Eagle Acquisition Corp. (Nasdaq: EAGLU), a special purpose acquisition company (SPAC) led by media executives Harry Sloan and Jeff Sagansky, today announced the closing of its initial public offering in which it raised approximately $190 Million. The Global Eagle IPO is the largest raise by a SPAC based in the United States in over three years.

Global Eagle’s purpose is to take advantage of the substantial deal sourcing, investing and operating expertise of its management team to indentify and acquire media or entertainment businesses with high growth potential in the United States or internationally.

Global Eagle was formed to complete an acquisition using its cash, debt or securities. There is no limitation on its ability to raise additional funds in connection with its acquisition. As a result, Global Eagle may acquire a target whose enterprise value is a significant multiple of the amount of cash it has raised.

Global Eagle’s offering was oversubscribed. Global Eagle initially sought $175 Million, but due to demand, sold 18,992,500 units, at $10 per unit, or approximately $190 Million. Each unit consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $11.50 per share.

Citi acted as sole book-running manager for the offering and Deutsche Bank Securities and Macquarie Capital acted as co-managers.

Read More »

Comments (13)

Jeff Sagansky Launches $250M Studio Fund

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. Read More »

Comments (18)