TV, Film & Media Industry News Roundup, Thursday 4 July 2024

Paramount renews BET sale talks; Skydance merger; EIFF girl bands doc; NZ rebate changes; ‘Ya & Niki’ wins; Flanagan honored; Vorderman at TV Fest; media cuts; A24 shifts; Sharkfest 2024.

Today’s Highlights:

• Paramount Renews Talks to Sell BET Assets: Paramount Global is renewing efforts to sell its BET Media Group assets, with talks involving CC Capital's Chinh Chu and BET president Scott Mills.

• Paramount and Skydance Merger: Paramount Global and Skydance Media are progressing on a $2.4 billion merger deal, with Shari Redstone's National Amusements and David Ellison's Skydance Media leading the negotiations.

• Edinburgh Film Festival to Close with Girl Bands Documentary: The EIFF will conclude with the premiere of "Since Yesterday: The Untold Story Of Scotland's Girl Bands," exploring the history and challenges of Scottish girl bands.

• NZ Government Changes Production Rebate, Local Content Legislation: New Zealand plans to alter the NZ Screen Production Rebate eligibility and introduce legislation requiring digital platforms to pay media companies for news.

• Rä di Martino's 'Ya & Niki' Wins Top Prize at FIDLab 2024: The film "Ya & Niki" won the €15,000 A Fabrica award for sound post-production services at the 16th FIDLab in France.

• Fantasia 2024 Honors Mike Flanagan: US filmmaker Mike Flanagan will receive a career award at Montreal's Fantasia International Film Festival.

• Carol Vorderman to Deliver Alternative MacTaggart: Broadcaster Carol Vorderman will present the Alternative MacTaggart at the 2024 Edinburgh TV Festival, sharing her experiences in TV and social media campaigning.

• Big Media Cost-Cutting Trends: Major media companies like NBCUniversal and Paramount Global are cutting costs, impacting entities such as Seth Meyers' "Late Night" band and MTV News archives.

• A24's Shift Toward a Commercial Future: A24's recent $3.5 billion valuation signals its move towards more commercial ventures, including a failed bid for the Halloween franchise and a potential partnership with the NFL.

• National Geographic's Sharkfest 2024: Nat Geo's annual Sharkfest will feature 26 hours of new programming about sharks, emphasising actual behaviour and scientific facts.

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NEWS

Paramount Renews Talks to Sell BET Assets

After several stops and starts, Paramount Global is renewing efforts to sell off its BET Media Group assets. The company is in talks with CC Capital chief Chinh Chu, whose private equity firm is backing BET president Scott Mills in a bid for the assets, Bloomberg reported. Paramount declined to comment, and CC Capital did not respond. The unit, including BET, streamer BET+, VH1, and BET Studios, has been up for sale multiple times as Paramount reevaluates its properties amid changing strategies and executive turnover. Mills, with BET since 1997, gained oversight of VH1 in 2022.

From: The Hollywood Reporter

Paramount, Skydance Merger Is on Again in $2.4 Billion Deal

Once thought dead, the deal to sell Paramount Global resurfaced and moved toward completion on Tuesday when Shari Redstone’s National Amusements closed a tentative $2.4 billion deal with David Ellison’s Skydance Media. This came a day after news broke that billionaire mogul and former Paramount executive Barry Diller had entered the competition, potentially sparking a bidding war. Insiders said the Skydance agreement is progressing. Late Tuesday, the special committee reviewed the NAI agreement and advanced to the next stage, vetting the deal to merge Skydance with Paramount.

From: The Wrap

Edinburgh film festival to close with girl bands documentary ‘Since Yesterday’

The Edinburgh International Film Festival (EIFF) will close on August 21 with the world premiere of "Since Yesterday: The Untold Story Of Scotland’s Girl Bands," a music documentary by Carla J. Easton and Blair Young. The film explores the history of Scottish girl bands from the 1960s to the present, offering a scrapbook of Scottish pop music and revealing the challenges faced in a male-dominated industry.

From: Screen Daily

NZ gov’t pursues changes to production rebate, introduces local content legislation

The New Zealand government plans to change the eligibility criteria for the NZ Screen Production Rebate and introduce legislation requiring digital technology platforms to pay media companies for news. This intervention comes at a crucial time as New Zealand faces declines in local news following the closure of Warner Bros Discovery’s Newshub in May. The screen production industry has been calling for help, fearing the collapse of investment in local content. Media and Communications Minister Paul Goldsmith stated the government is committed to immediate action to support the media and content production sectors while developing long-term reforms.

From: C21

Rä di Martino’s ‘Ya & Niki’ leads winners of FIDLab 2024

Italian director Rä di Martino’s Ya & Niki won the top prize at the 16th edition of FIDLab, the international co-production platform of France’s FIDMarseille. Produced by Italy’s Dugong Films, Lebanon’s Abbout Production, and Egypt’s Cats Films, Ya & Niki follows an Italian teen who bonds with a Syrian refugee in a video game and received the €15,000 A Fabrica award for sound post-production services. Katsuya Tomita’s The Lanfang Republic won the Commune Image award of eight weeks of editing.

From: Screen Daily

Fantasia 2024 unveils complete programme, with career award to be presented to Mike Flanagan

US filmmaker Mike Flanagan, known for the Netflix series The Haunting Of Hill House, will receive a career award at Montreal’s Fantasia International Film Festival (July 18-August 4). Flanagan’s Netflix collaborations include Midnight Mass, The Haunting Of Bly Manor, The Midnight Club, and The Fall Of The House Of Usher. His film credits include Oculus, Hush, Doctor Sleep, Gerald’s Game, and the upcoming The Life Of Chuck, starring Tom Hiddleston, Mark Hamill, and Chiwetel Ejiofor.

From: Screen Daily

Carol Vorderman To Deliver Alternative MacTaggart

Broadcaster, writer, and campaigner Carol Vorderman will deliver the Alternative MacTaggart at the 2024 Edinburgh TV Festival. Vorderman, who began her TV career in 1982 as the maths expert on Countdown, worked with Richard Whitely for 22 years and later with Des Lynam and Des O’Connor until 2008. Awarded an MBE in 2000 for her broadcasting services, she now hosts a weekly LBC radio show, the Perfect Ten podcast, the Pride of Britain Awards, and is known for her political activism. Vorderman will share her TV and social media campaigning experiences in her address, followed by an in-depth interview.

From: World Screen

INSIGHTS

Big Media Sweats the Small Stuff: Why Cuts Like Seth Meyers’ ‘Late Night’ Band, MTV News Archives Will Continue

What do Seth Meyers’ “Late Night” band and the MTV News archives have in common? Both have faced recent cuts as media companies like NBCUniversal, Paramount Global, and Warner Bros. Discovery reduce costs amid declining advertising and distribution revenue. Meyers' NBC show will lose its band due to "budget cuts." Meanwhile, Paramount Global has scaled back digital assets, including MTV News archives and video content from “The Daily Show” and “Colbert Report,” to focus on subscription streaming services.

From: Variety

Aaron Augenblick on how animation can keep in toon

Aaron Augenblick, founder and creative producer of Augenblick Studios and Future Brain Media, emphasises that the animation industry must evolve to survive crises and the ever-changing sector. He highlights the need for adaptation and innovation to navigate challenges and ensure sustainability in the industry.

From: C21

A24’s recent cash infusion is just the latest flash of its Wall Street DNA

Last week's capital infusion, valuing Thrive at $3.5 billion, signals A24's shift toward a more commercial future. This follows a $225 million equity investment in early 2022. The studio has been targeting new audiences, including a bid for the Halloween franchise (lost to Miramax) and a potential partnership with the NFL (which went to Skydance). Despite some cinephiles' concerns, A24 has always been guided by a strong sense of business.

From: Fast Company

Class clash

Actors Eva Morgan and Vinette Robinson discuss their work on Channel 4's whodunnit thriller The Gathering, expressing their passion for the Liverpool-set project and its working-class representation. Eva Morgan is the lead in her first screen role and recently won Best Actor at the Monte Carlo TV Festival’s Golden Nymph Awards. The Gathering also won best series, and co-star Warren Brown was named best actor. The show, created by Helen Walsh, has received critical acclaim and garnered 3.2 million viewers for its debut episode, contributing to Channel 4's record streaming growth in 2024.

From: Drama Quarterly

How ‘Beverly Hills Cop: Axel F’ Composer Lorne Balfe Turned the Heat On With a Throwback Score

Composer Lorne Balfe is ideally suited to score the reboot of "Beverly Hills Cop: Axel F." In 2022, he served as score producer on "Top Gun: Maverick," collaborating with Hans Zimmer, Lady Gaga, and Harold Faltermeyer. The result was a score that balanced nostalgia with contemporary elements, providing the emotional foundation for a film that blended thrills with heartfelt moments.

From: The Wrap

Nat Geo’s Janet Han Vissering & Shark Experts Dive Into Sharkfest 2024

The 2024 instalment of National Geographic’s annual Sharkfest began in late June, featuring 26 hours of new and original programming about sharks across Nat Geo, Nat Geo WILD, Nat Geo Mundo, Disney+, Hulu, and ESPN2. Janet Han Vissering, senior VP of development and production at National Geographic, emphasises the event's focus on shows grounded in real behaviour and scientific facts. “Our shows have entertained and informed audiences for over 12 years, and there’s still so much more to uncover about these incredible creatures,” she says—Han Vissering credits “year-round research and cutting-edge technology” for the festival’s fresh and educational content.

From: TV Real