© Copyright 2020 Variety Media, LLC, a subsidiary of Penske Business Media, LLC. Led by filmmaker Peter Berg, Film 45 is an EMMY award-winning production company creating non-scripted entertainment and branded content for film, television, and digital platforms. Endeavor Content’s involvement can range from offering advisory services for WME and IMG clients on options for getting a greenlight, to putting up seed money to allow creative partners the time to develop material before shopping it on the open market.“We’re not a factory,” says Rice. See our Cookie Policy for more information. Since late March, we have been rolling out cost-saving measures in phases across our companies and geographies and intend to complete most of this process in late May,” an Endeavor spokesperson told “Approximately a third of our population will be impacted by reduced pay for reduced work, furlough, or position elimination, with the majority affected by reduced work and furlough.”Word of Endeavor’s next phase of cuts were prompted by days of speculation that a culling was imminent at WME, specifically in TV and motion picture lit departments.
The cuts will manifest as layoffs, reduced pay for reduced hours for select employees and furloughs, a company spokesperson said. The cuts will manifest as layoffs, redu…
It’s literally the best time since before 1995 to build ownership [stakes] for creators.” Our website uses cookies and other tracking technologies to improve user experience. Endeavor Group Holdings, or simply Endeavor, formerly known as William Morris Endeavor Entertainment (WME or WME-IMG), is a private American holding company for talent and media agencies with its primary offices in Beverly Hills, California, United States. You will be redirected back to your article in
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“We come into dealmaking with a problem-solving attitude rather than this-is-the-way-things-are-done attitude,” Yazdi said.With the right projects, Endeavor Content sees an opening for A-listers to leverage their clout to retain much greater ownership of the content they produce. Read Next: Wong Kar-wai Sets ‘Blossoms Shanghai’ as His First TV Series
We’re not limited by our precedents like the mass approach you get at a studio.”Where the business model takes a big turn is when Endeavor Content, in some instances, retains an ownership interest in a project. We help bring culture-defining content to life within our own portfolio, as well as for hundreds of our client creators, brands, sports federations and events. Read Next: Seth Rogen Says ‘Pineapple Express 2’ Was Turned Down Due to Budget Concerns Subsidiary formed through an initial investment by Sequoia Capital China, Tencent and FountainVest Partners to expand Endeavor’s presence in China Global leader in the development, financing and sales of premium film, television, theater and audio content. Moreover, Endeavor leadership stresses that the potential for conflicts is mitigated by the fact that all deals are reviewed by outside lawyers and other third parties.“Ultimately we’re trying to put as many alternatives on the table and our partners go with whatever makes the most sense for them,” Taylor says. © Copyright 2020 Variety Media, LLC, a subsidiary of Penske Business Media, LLC.
Endeavor Content’s startup mentality is a plus in navigating the thicket of producers, financiers and foreign sales agents that are integral to the process. Endeavor currently employs 7,500 people worldwide in more than 90 offices.The cuts will affect every division of Endeavor’s core business, including talent agency WME at every level of that company, and portfolio holdings including live events company IMG.“The long-term prospects for Endeavor remain unchanged, but like other companies, we are taking a variety of actions to mitigate the impact of this pandemic. “There’s the sales side, advisory work or wrapping financing and infrastructure around producers.”On the film side, Endeavor Content has cast a wide net for projects, although it is not in the business of acquiring finished films. Comprised of a team of close collaborators, Film 45 tells stories with authenticity, soulfulness, and grit. Endeavor Content has bolstered its ranks with several hires and promotions across its film and TV groups. One Endeavor insider disputed this, saying all departments will see cuts.The cuts are largely in response to the devastating impact of coronavirus, insiders told The narrative surrounding the high-flying operation, run by Ari Emanuel and Patrick Whitesell, has largely been centered around the company’s significant $4.6 billion in debt, and broken promises from leadership to senior members of the company after a scuttled public offering last fall.The Endeavor insider said the cuts are part of a larger strategy to stay nimble, and reaffirmed the faith of Endeavor’s primary investor Silver Lake Partners.Belt-tightening began March 25, with roughly 250 staffers laid off and salary reductions instituted from the top down. Endeavor Content, headed by WME veterans Chris Rice and Graham Taylor, is not a production company, per se. “You’ve still got 60-plus buyers in the U.S. You’ve got new entrants with massive firepower in Netflix and Amazon, and Apple, YouTube and Facebook are next down the line.
“We’re getting better control, better deal dynamics and great TV shows and movies. Two of Endeavor Content’s most high profile projects, BBC America’s “Killing Eve” and Hulu’s “The First,” came from creative talent affiliated with UTA and CAA, respectively. Endeavor sees this peak TV moment as the biggest opportunity for talent and independent producers since regulatory reforms in the U.S. in the mid-1990s lifted the ban on ABC, CBS and NBC owning most of the shows they aired.“It’s the best time to be building these businesses,” Rice says. Additionally, at times, Endeavor Content handles international sales and distribution of a movie or TV series.