New Delhi, April 13 (Ians) Japanese investment giant SoftBank is selling one of its venture capital arms, SoftBank Ventures Asia (Sbva), to Singaporean investment firm The Edgeof, as Vc funding remains scarce amid the global macroeconomic conditions.
The acquisition comes after SoftBank and its Vision Fund registered huge financial losses amid the overall slump in the world of technology.
The Edgeof, a newly-established entity, will be led by Founder Taizo Son (SoftBank CEO Masayoshi Son’s younger brother), and Co-founder and Chairman Atsushi Taira from the founding team of Mistletoe.
The Edgeof will leverage Mistletoe’s know-how and establish a pan-Asian ecosystem for ‘aStartups’ by discovering, investing and supporting the growth of game-changing startups, the companies said in a statement.
The company defines “aStartups” as startups that have a mission to address fundamental problems in the world with advanced technology.
SoftBank Group will collaborate closely with The Edgeof, offering valuable expertise,...
The acquisition comes after SoftBank and its Vision Fund registered huge financial losses amid the overall slump in the world of technology.
The Edgeof, a newly-established entity, will be led by Founder Taizo Son (SoftBank CEO Masayoshi Son’s younger brother), and Co-founder and Chairman Atsushi Taira from the founding team of Mistletoe.
The Edgeof will leverage Mistletoe’s know-how and establish a pan-Asian ecosystem for ‘aStartups’ by discovering, investing and supporting the growth of game-changing startups, the companies said in a statement.
The company defines “aStartups” as startups that have a mission to address fundamental problems in the world with advanced technology.
SoftBank Group will collaborate closely with The Edgeof, offering valuable expertise,...
- 4/13/2023
- by Agency News Desk
- GlamSham
Tokyo, Feb 7 (Ians) There is no respite for SoftBank Group in the ongoing global tech meltdown as the Japanese investment giant on Tuesday reported a massive around 5.9 billion net loss in its third quarter that ended December 31.
SoftBank said it lost around 5.5 billion in its signature Vision Funds alone in the October-December period, “reflecting declines in the share prices of a wide range of portfolio companies”.
The investment giant had lost 10 billion in the previous quarter (July-September 2022).
According to the company, the fair value of its current late-stage portfolio is now more than 37 billion.
On its earnings call with analysts, SoftBank said it’s in the “defence mode”.
For the first time in decades, Masayoshi Son, founder and chief executive of SoftBank Group, skipped the analysts’ call.
According to The Financial Times, at December-end, SoftBank said the fair value of the 100 billion Vision Fund I was down 4.4 per cent from a year earlier.
SoftBank said it lost around 5.5 billion in its signature Vision Funds alone in the October-December period, “reflecting declines in the share prices of a wide range of portfolio companies”.
The investment giant had lost 10 billion in the previous quarter (July-September 2022).
According to the company, the fair value of its current late-stage portfolio is now more than 37 billion.
On its earnings call with analysts, SoftBank said it’s in the “defence mode”.
For the first time in decades, Masayoshi Son, founder and chief executive of SoftBank Group, skipped the analysts’ call.
According to The Financial Times, at December-end, SoftBank said the fair value of the 100 billion Vision Fund I was down 4.4 per cent from a year earlier.
- 2/7/2023
- by News Bureau
- GlamSham
Las Vegas, Jan 8 (Ians) Samsung’s chief executive officer Han Jong-hee has said the company was still pursuing a merger deal, even though its efforts have hit a snag.
The tech company’s deal-making activities were only “delayed due to various external factors,” Han Jong-hee, vice chair and co-ceo at Samsung, said at the ‘CES 2023’ here.
Han cited the ongoing Russia-Ukraine war, China’s lockdowns, tensions between the United States and China, and other macroeconomic challenges as reasons for the delay over the last year.
Samsung has been eying a new M&a deal for years, reports Yonhap news agency.
At last year’s CES, Han said the company was extensively reviewing M&a opportunities in various industries.
“We are moving faster than you might think. We are open to every possibility, and I think we can deliver good news sooner or later,” he said at that time.
A year has passed,...
The tech company’s deal-making activities were only “delayed due to various external factors,” Han Jong-hee, vice chair and co-ceo at Samsung, said at the ‘CES 2023’ here.
Han cited the ongoing Russia-Ukraine war, China’s lockdowns, tensions between the United States and China, and other macroeconomic challenges as reasons for the delay over the last year.
Samsung has been eying a new M&a deal for years, reports Yonhap news agency.
At last year’s CES, Han said the company was extensively reviewing M&a opportunities in various industries.
“We are moving faster than you might think. We are open to every possibility, and I think we can deliver good news sooner or later,” he said at that time.
A year has passed,...
- 1/8/2023
- by News Bureau
- GlamSham
Bengaluru, Nov 16 (Ians) Beleaguered Japanese SoftBank Group is likely to sell shares worth around 215 million in financial payments major Paytm’s parent company via a block deal this week, the media reported on Wednesday.
CNBC-TV18 reported, citing sources, that the Japanese investor is offering to sell 29 million shares in the digital payments and financial services company at Rs 601.45 apiece.
The move comes as Paytm’s lock-in for pre-ipo investors ends later this week.
At Rs 601, Paytm’s shares are currently trading at least 70 per cent below its IPO price.
According to reports, SoftBank invested some 1.6 billion in Paytm. It took out up to 250 million in the company’s IPO in November last year.
The Masayoshi Son-led SoftBank’s remaining stake in the Indian fintech major is about 900 million.
Battered by heavy losses, Masayoshi Son-run SoftBank is also reportedly laying off at least 30 per cent of employees at its loss-making Vision Fund.
CNBC-TV18 reported, citing sources, that the Japanese investor is offering to sell 29 million shares in the digital payments and financial services company at Rs 601.45 apiece.
The move comes as Paytm’s lock-in for pre-ipo investors ends later this week.
At Rs 601, Paytm’s shares are currently trading at least 70 per cent below its IPO price.
According to reports, SoftBank invested some 1.6 billion in Paytm. It took out up to 250 million in the company’s IPO in November last year.
The Masayoshi Son-led SoftBank’s remaining stake in the Indian fintech major is about 900 million.
Battered by heavy losses, Masayoshi Son-run SoftBank is also reportedly laying off at least 30 per cent of employees at its loss-making Vision Fund.
- 11/16/2022
- by Glamsham Bureau
- GlamSham
Tokyo, Sep 29 (Ians) Battered by heavy losses, Masayoshi Son-run SoftBank is laying off at least 30 per cent of employees at its loss-making Vision Fund, a media report said on Thursday.
Bloomberg reported that the company has started briefing some employees — around 150 — about being laid off. The SoftBank Vision Fund unit had about 500 employees as last reported.
Last month, SoftBank Group had revealed plans to sell nearly 242 million American depository receipts (ADRs) of Chinese behemoth Alibaba, that will help it gain 4.6 trillion yen (34 billion) in pre-tax gain from the sale.
The Japanese giant, which suffered losses running into billions of dollars in the past two quarters this year, said that the sale will trim its stake in Alibaba to 14.6 per cent, a decrease from 23.7 per cent at the end of June.
Earlier this year, investment bank Jefferies had predicted that SoftBank would need “40-45 billion of cash this year” if it were to sustain.
Bloomberg reported that the company has started briefing some employees — around 150 — about being laid off. The SoftBank Vision Fund unit had about 500 employees as last reported.
Last month, SoftBank Group had revealed plans to sell nearly 242 million American depository receipts (ADRs) of Chinese behemoth Alibaba, that will help it gain 4.6 trillion yen (34 billion) in pre-tax gain from the sale.
The Japanese giant, which suffered losses running into billions of dollars in the past two quarters this year, said that the sale will trim its stake in Alibaba to 14.6 per cent, a decrease from 23.7 per cent at the end of June.
Earlier this year, investment bank Jefferies had predicted that SoftBank would need “40-45 billion of cash this year” if it were to sustain.
- 9/29/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Sep 22 (Ians) Masayoshi Son-led SoftBank has cut the internal valuation of Ritesh Agarwal-run Oyo to 2.7 billion from its last reported valuation of nearly 10 billion, TechCrunch reported on Thursday.
The reported valuation cut comes at a time when the hospitality major is eyeing its initial public offering (IPO) in months to come.
The report, citing a source, said that SoftBank is the largest investor in Oyo — at 45 per cent — and its estimation “is a strong signal of the startup’s current health”.
A company spokesperson termed the report as “inacurate”, saying it makes “no rational basis” as the company has actually improved its finances.
“We are confident that the above speculations about valuation markdown is patently incorrect. Valuation is an outcome of business performance. As per our latest audited results, we have clocked Rs 7 crore maiden adj Ebitda profit in the June quarter, at 41 per cent gross profit...
The reported valuation cut comes at a time when the hospitality major is eyeing its initial public offering (IPO) in months to come.
The report, citing a source, said that SoftBank is the largest investor in Oyo — at 45 per cent — and its estimation “is a strong signal of the startup’s current health”.
A company spokesperson termed the report as “inacurate”, saying it makes “no rational basis” as the company has actually improved its finances.
“We are confident that the above speculations about valuation markdown is patently incorrect. Valuation is an outcome of business performance. As per our latest audited results, we have clocked Rs 7 crore maiden adj Ebitda profit in the June quarter, at 41 per cent gross profit...
- 9/22/2022
- by Glamsham Bureau
- GlamSham
Seoul, Sep 22 (Ians) British chip designer Arm is the talk of the town — again — in South Korea, as it emerged as Samsung Electronics’ potential merger and acquisition target.
Samsung Electronics Vice Chairman Lee Jae-yong said that SoftBank Group CEO Masayoshi Son will visit South Korea next month to talk about a potential partnership or a deal.
“When he visits, he might have some offer (regarding an Arm deal). But I am not sure,” he told reporters upon arrival at Gimpo International Airport from his two-week business trip abroad, without elaborating further.
His last stop was Britain, where the semiconductor and software design company is based, stoking years-old speculations that deep-pocket Samsung might be interested in buying Arm, to consolidate its position as a leading chipmaker and beef up its competitiveness further in the industry of growing strategic importance, reports Yonhap news agency.
But he did not meet Arm executives during his visit to Britain,...
Samsung Electronics Vice Chairman Lee Jae-yong said that SoftBank Group CEO Masayoshi Son will visit South Korea next month to talk about a potential partnership or a deal.
“When he visits, he might have some offer (regarding an Arm deal). But I am not sure,” he told reporters upon arrival at Gimpo International Airport from his two-week business trip abroad, without elaborating further.
His last stop was Britain, where the semiconductor and software design company is based, stoking years-old speculations that deep-pocket Samsung might be interested in buying Arm, to consolidate its position as a leading chipmaker and beef up its competitiveness further in the industry of growing strategic importance, reports Yonhap news agency.
But he did not meet Arm executives during his visit to Britain,...
- 9/22/2022
- by Glamsham Bureau
- GlamSham
Tokyo/New Delhi, Aug 10 (Ians) Masayoshi Son-led SoftBank Group on Wednesday revealed plans to sell nearly 242 million American depository receipts (ADRs) of Chinese behemoth Alibaba, that will help it gain 4.6 trillion yen (34 billion) in pre-tax gain from the sale. The Japanese giant, which saw massive losses in billions of dollars in the […]...
- 8/10/2022
- by Glamsham Bureau
- GlamSham
New Delhi, Aug 8 (Ians) Masayoshi Son, Founder and CEO of Japanese investment group Softbank, on Monday warned unicorns and startups to prepare for a harsh and longer funding winter ahead, as the company posted disastrous results for the second straight quarter this year. In the earnings call after reporting 23.4 billion net loss in […]...
- 8/8/2022
- by Glamsham Bureau
- GlamSham
SXSW can’t get enough of Adam Neumann. Just last year, during the festival’s virtual edition, Jed Rothstein’s documentary feature, “WeWork: Or the Making and Breaking of a $47 Billion Unicorn” centered on the co-working company’s co-founder. Now, for SXSW’s in-person return, he’s back — albeit being played by Jared Leto in the Apple TV+ scripted series, “WeCrashed.”
Expanding the runtime from 104 minutes to eight hours and adding a love story to the office drama, Drew Crevello and Lee Eisenberg’s low-key satire of WeWork’s rise and fall doesn’t suffer all the same flaws as its unscripted predecessor. Leto ably captures Neumann’s magnetism, which was oft-discussed yet never realized in the doc. The series’ structure is sound, doing just enough to support yet another in media res opening. The dark comedy clicks, the design is polished, and pacing smooth, but like the documentary (now...
Expanding the runtime from 104 minutes to eight hours and adding a love story to the office drama, Drew Crevello and Lee Eisenberg’s low-key satire of WeWork’s rise and fall doesn’t suffer all the same flaws as its unscripted predecessor. Leto ably captures Neumann’s magnetism, which was oft-discussed yet never realized in the doc. The series’ structure is sound, doing just enough to support yet another in media res opening. The dark comedy clicks, the design is polished, and pacing smooth, but like the documentary (now...
- 3/12/2022
- by Ben Travers
- Indiewire
Adam Neumann’s vision of a communal, creative, snack hub-filled future comes crashing down in a fake-it-till-you-make-it fable
Jed Rothstein’s very entertaining documentary is another horror story from the tulip-feverish world of tech startups: its subject is WeWork, co-founded in 2010 by the (allegedly) charismatic entrepreneur Adam Neumann – part CEO, part cult leader. His business model was basically really simple: renting out cubicle-style office space to creatives and freelancers in buildings in which he’d bought short leases on borrowed money. But these tenants got shared facilities such as groovy hangout areas, table football, coffee and snack hubs and the feeling that they were part of a vital experiment in communal creativity, a vision of a new interrelated future.
Neumann waffled on like this endlessly, like Steve Jobs without an iPhone in his hand. The business took off, and the hype and the business journalism adoration took off, too. There...
Jed Rothstein’s very entertaining documentary is another horror story from the tulip-feverish world of tech startups: its subject is WeWork, co-founded in 2010 by the (allegedly) charismatic entrepreneur Adam Neumann – part CEO, part cult leader. His business model was basically really simple: renting out cubicle-style office space to creatives and freelancers in buildings in which he’d bought short leases on borrowed money. But these tenants got shared facilities such as groovy hangout areas, table football, coffee and snack hubs and the feeling that they were part of a vital experiment in communal creativity, a vision of a new interrelated future.
Neumann waffled on like this endlessly, like Steve Jobs without an iPhone in his hand. The business took off, and the hype and the business journalism adoration took off, too. There...
- 8/11/2021
- by Peter Bradshaw
- The Guardian - Film News
Mark Kornblau is departing his spot heading up communications at NBCUniversal’s news brands for a position as global head of communications for Softbank Group.
Kornblau is currently executive vice president of communications for NBCUniversal News Group. He’s been at NBC News for seven years.
Kornblau will join Softbank on Aug. 16, and will be be based in the company’s New York office, reporting to Masayoshi Son, representative director, corporate officer, chairman and CEO of Sbg, as well as Marcelo Claure, corporate officer, executive vice president and COO of Sbg and chief executive officer of Softbank Group International.
During his tenure, Kornblau led negotiations for the network’s coverage of the 2020 Democratic presidential debates, while leading communications for TV and digital news brands including the broadcast news division and MSNBC. Last year, Cesar Conde was named to succeed Andrew Lack atop the news division, in the newly created role...
Kornblau is currently executive vice president of communications for NBCUniversal News Group. He’s been at NBC News for seven years.
Kornblau will join Softbank on Aug. 16, and will be be based in the company’s New York office, reporting to Masayoshi Son, representative director, corporate officer, chairman and CEO of Sbg, as well as Marcelo Claure, corporate officer, executive vice president and COO of Sbg and chief executive officer of Softbank Group International.
During his tenure, Kornblau led negotiations for the network’s coverage of the 2020 Democratic presidential debates, while leading communications for TV and digital news brands including the broadcast news division and MSNBC. Last year, Cesar Conde was named to succeed Andrew Lack atop the news division, in the newly created role...
- 7/7/2021
- by Ted Johnson
- Deadline Film + TV
Jellysmack, which helps creators who are successful on one platform diversify their portfolios across Facebook, Instagram, Snapchat, TikTok, Twitter, and YouTube, has announced a Series C funding round that it says has catapulted it to unicorn status -- meaning it now touts a valuation over $1 billion.
SoftBank Vision Fund 2 -- the venture capital arm of the Tokyo-based conglomerate -- was the sole investor in the round, though the amount of the investment has not been disclosed, nor have the specifics of Jellysmack's post-funding valuation. Softbank founder, chairman, and CEO Masayoshi Son announced the investment this morning in an investor briefing.
Prior to this round, Jellysmack had raised $40 million from Highland Europe, Partech, Interplay, and Unilever Ventures.
As part of the investment, Softbank Investment Advisers’ managing partner Yanni Pipilis will join Jellysmack’s board of directors.
Visit Tubefilter for more great stories.
SoftBank Vision Fund 2 -- the venture capital arm of the Tokyo-based conglomerate -- was the sole investor in the round, though the amount of the investment has not been disclosed, nor have the specifics of Jellysmack's post-funding valuation. Softbank founder, chairman, and CEO Masayoshi Son announced the investment this morning in an investor briefing.
Prior to this round, Jellysmack had raised $40 million from Highland Europe, Partech, Interplay, and Unilever Ventures.
As part of the investment, Softbank Investment Advisers’ managing partner Yanni Pipilis will join Jellysmack’s board of directors.
Visit Tubefilter for more great stories.
- 5/12/2021
- by Geoff Weiss
- Tubefilter.com
Exclusive: The WeWork documentary from Ross Dinerstein’s Campfire, Forbes Entertainment and Olive Hill Media has landed at Hulu.
The feature-length film, directed by Jed Rothstein, becomes the latest doc project for the streamer, which is building up its library of original non-fiction titles including Fyre Fraud and Hillary.
Production on the untitled documentary, which started remotely in April, is close to being complete and it is set to air in 2021. It is being directed by Rothstein, who directed The China Hustle and Killing in the Name.
The doc will follow the rise and fall of the shared workspace company under its hard partying founder. It will look at how over the last ten years founder Adam Neumann was able to raise more than $12B from the likes of JPMorgan’s Jamie Dimon and SoftBank’s Masayoshi Son and command a $47B valuation. However, while the company was looking for a $100B IPO,...
The feature-length film, directed by Jed Rothstein, becomes the latest doc project for the streamer, which is building up its library of original non-fiction titles including Fyre Fraud and Hillary.
Production on the untitled documentary, which started remotely in April, is close to being complete and it is set to air in 2021. It is being directed by Rothstein, who directed The China Hustle and Killing in the Name.
The doc will follow the rise and fall of the shared workspace company under its hard partying founder. It will look at how over the last ten years founder Adam Neumann was able to raise more than $12B from the likes of JPMorgan’s Jamie Dimon and SoftBank’s Masayoshi Son and command a $47B valuation. However, while the company was looking for a $100B IPO,...
- 10/6/2020
- by Peter White
- Deadline Film + TV
Exclusive: The story of WeWork and its controversial founder and former CEO Adam Neumann is to be the subject of a feature documentary from Ross Dinerstein’s Campfire, Forbes Entertainment and Olive Hill Media.
Jed Rothstein, who directed the Oscar-nominated short Killing In The Name, as well as an episode of Netflix’s recent true crime docuseries The Innocence Files, will helm.
More from DeadlineWondery Podcast 'WeCrashed' In Works As Limited Series At AppleStephen Falk Tapped As Showrunner Of WeWork Limited Series Starring Nicholas Braun For Chernin/Endeavor Content'The Innocent Man': Campfire's Ross Dinerstein Reveals How Netflix True-Crime Series Helped Get Karl Fontenot Out Of Jail
The doc will follow the rise and fall of the shared workspace company under its hard partying founder. It will look at how over the last ten years Neumann was able to raise more than $12B from the likes of JPMorgan’s Jamie Dimon...
Jed Rothstein, who directed the Oscar-nominated short Killing In The Name, as well as an episode of Netflix’s recent true crime docuseries The Innocence Files, will helm.
More from DeadlineWondery Podcast 'WeCrashed' In Works As Limited Series At AppleStephen Falk Tapped As Showrunner Of WeWork Limited Series Starring Nicholas Braun For Chernin/Endeavor Content'The Innocent Man': Campfire's Ross Dinerstein Reveals How Netflix True-Crime Series Helped Get Karl Fontenot Out Of Jail
The doc will follow the rise and fall of the shared workspace company under its hard partying founder. It will look at how over the last ten years Neumann was able to raise more than $12B from the likes of JPMorgan’s Jamie Dimon...
- 4/23/2020
- by Peter White
- Deadline Film + TV
The rise and crash of WeWork and its founder Adam Neumann is getting the big-screen treatment from Blumhouse and Universal.
Screenwriter Charles Randolph, who won an adapted screenplay Oscar for “The Big Short,” is on board to write the film.
The troubled shared-workplace startup pulled the plug on an initial public offering in September after investors raised questions against its mounting losses. It accepted a bailout from SoftBank in October.
Blumhouse will produce and is adapting the movie from Katrina Brooker’s reporting and upcoming book, to be published by W. W. Norton, on the intertwined lives and ambitions of Neumann and SoftBank CEO Masayoshi Son. Brooker is a senior contributing writer for Fast Company. She has conducted in-depth interviews with Neumann and dozens of sources within SoftBank and WeWork, and written stories on the fallout of WeWork’s Ipo.
Randolph will also produce. He penned the script for Jay Roach’s upcoming “Bombshell,...
Screenwriter Charles Randolph, who won an adapted screenplay Oscar for “The Big Short,” is on board to write the film.
The troubled shared-workplace startup pulled the plug on an initial public offering in September after investors raised questions against its mounting losses. It accepted a bailout from SoftBank in October.
Blumhouse will produce and is adapting the movie from Katrina Brooker’s reporting and upcoming book, to be published by W. W. Norton, on the intertwined lives and ambitions of Neumann and SoftBank CEO Masayoshi Son. Brooker is a senior contributing writer for Fast Company. She has conducted in-depth interviews with Neumann and dozens of sources within SoftBank and WeWork, and written stories on the fallout of WeWork’s Ipo.
Randolph will also produce. He penned the script for Jay Roach’s upcoming “Bombshell,...
- 12/2/2019
- by Dave McNary
- Variety Film + TV
Big Short Adapted Screenplay Oscar winner Charles Randolph is adapting Katrina’s Brooker’s upcoming W.W. Norton book about controversial real estate corp WeWork for both Blumhouse and Universal. Book focuses on the intertwined lives and ambitions of Masayoshi Son, CEO of Softbank, and Adam Neumann, CEO of WeWork, the latter which has been mired in scandal since its failed Ipo. Brooker is a senior contributing writer for Fast Company whose reporting in the tech sphere has appeared in Vanity Fair, The New York Times, Fortune and Bloomberg. She conducted in-depth interviews with Neumann and dozens of sources within SoftBank and WeWork, and wrote landmark feature stories on the crisis around SoftBank’s $100b Vision Fund and the fallout of WeWork’s Ipo.
Upcoming for Randolph is Lionsgate/Bron Studios’ Bombshell about the women who took down Fox News boss Roger Ailes. Pic opens on Dec. 20. Randolph’s Big Short,...
Upcoming for Randolph is Lionsgate/Bron Studios’ Bombshell about the women who took down Fox News boss Roger Ailes. Pic opens on Dec. 20. Randolph’s Big Short,...
- 12/2/2019
- by Anthony D'Alessandro
- Deadline Film + TV
“Bombshell” writer Charles Randolph is set to write a feature film based on the rise and fall of WeWork and its CEO and founder Adam Neumann that is being fast tracked at Blumhouse Productions and Universal, TheWrap has learned.
Blumhouse will produce and is adapting the film based on the reporting and an upcoming book by journalist Katrina Brooker. The film will chart the intertwined lives and ambitions of Masayoshi Son, the CEO of Softbank, and Neumann, who from 2010 to 2019 was the CEO of the commercial real estate company WeWork that has been the subject of scrutiny following a failed Ipo. Randolph will also produce.
Brooker, who is a senior contributing writer for Fast Company and the author of an upcoming book on WeWork to be published by W.W. Norton, has conducted in-depth interviews with Neumann and dozens of sources within SoftBank and WeWork that have delved into Neumann’s eccentric behavior,...
Blumhouse will produce and is adapting the film based on the reporting and an upcoming book by journalist Katrina Brooker. The film will chart the intertwined lives and ambitions of Masayoshi Son, the CEO of Softbank, and Neumann, who from 2010 to 2019 was the CEO of the commercial real estate company WeWork that has been the subject of scrutiny following a failed Ipo. Randolph will also produce.
Brooker, who is a senior contributing writer for Fast Company and the author of an upcoming book on WeWork to be published by W.W. Norton, has conducted in-depth interviews with Neumann and dozens of sources within SoftBank and WeWork that have delved into Neumann’s eccentric behavior,...
- 12/2/2019
- by Brian Welk
- The Wrap
Tim Cook, Lachlan Murdoch, Shari Redstone, Brian Roberts, Mark Zuckerberg and Bob Iger are among the media and technology moguls who will be touching down in Sun Valley, Idaho, in July for Allen & Co.’s annual media conference.
The invite-only confab is a chance for the one-percent of the one-percent to break out their windbreakers and jeans, and give the power suits a rest while biking and hiking in alpine splendor. It’s also historically been the locus of deal-making. Comcast’s purchase of NBC/Universal, the Washington Post’s sale to Jeff Bezos and Disney’s pact for Capital Cities/ABC were all hatched at Sun Valley. The conference was also the birthplace of some less successful mergers, namely AOL’s disastrous marriage to Time Warner.
In recent years, as technology and streaming have upended the traditional entertainment business, the biggest stars at Sun Valley have hailed from Silicon Valley.
The invite-only confab is a chance for the one-percent of the one-percent to break out their windbreakers and jeans, and give the power suits a rest while biking and hiking in alpine splendor. It’s also historically been the locus of deal-making. Comcast’s purchase of NBC/Universal, the Washington Post’s sale to Jeff Bezos and Disney’s pact for Capital Cities/ABC were all hatched at Sun Valley. The conference was also the birthplace of some less successful mergers, namely AOL’s disastrous marriage to Time Warner.
In recent years, as technology and streaming have upended the traditional entertainment business, the biggest stars at Sun Valley have hailed from Silicon Valley.
- 5/29/2019
- by Brent Lang
- Variety Film + TV
Michael Bloomberg today announced the second Bloomberg Global Business Forum will be held in New York City on September 26th at the Plaza Hotel during the 73rd session of the United Nations General Assembly.
Supported by Bloomberg Philanthropies, the daylong forum is the sole convening dedicated to encouraging presidents, prime ministers and CEOs to collaborate on trade issues by reaching a better understanding of one another’s challenges and mutual opportunities, thereby strengthening global economic prosperity. With protectionism on the rise – as well as worldwide population growth, economic inequality and climate change threats – it has never been more important for the world’s public and private sector leaders to uncover common goals and engage in economic diplomacy to promote continued globalization, innovation and competition. This one-of-a-kind forum will move beyond analysis and provide participants with the chance to shape the next stage of the global economy.
“The Forum comes at...
Supported by Bloomberg Philanthropies, the daylong forum is the sole convening dedicated to encouraging presidents, prime ministers and CEOs to collaborate on trade issues by reaching a better understanding of one another’s challenges and mutual opportunities, thereby strengthening global economic prosperity. With protectionism on the rise – as well as worldwide population growth, economic inequality and climate change threats – it has never been more important for the world’s public and private sector leaders to uncover common goals and engage in economic diplomacy to promote continued globalization, innovation and competition. This one-of-a-kind forum will move beyond analysis and provide participants with the chance to shape the next stage of the global economy.
“The Forum comes at...
- 7/11/2018
- Look to the Stars
Sun Valley, Idaho — The black and silver SUVs packed with CEOs started rolling in about noon. Allen & Co.’s annual gathering of media and tech titans at the Sun Valley Lodge resort here brings together several combatants in active industry battles that have observers transfixed.
Will Comcast’s Brian Roberts and Disney’s Bob Iger wind up talking in the halls about their escalating bidding war for Rupert Murdoch‘s 21st Century Fox? Will Shari Redstone and Leslie Moonves, now fighting each other in court over control of CBS Corp., meet on a resort pathway or in a conference session? Several conference attendees admitted privately that the corporate soap operas have been the buzz of the confab in the early going.
Redstone and Moonves arrived at the lodge within an hour or two of each other. The same was true for Roberts and Murdoch. Murdoch pulled in to the circular driveway with his wife,...
Will Comcast’s Brian Roberts and Disney’s Bob Iger wind up talking in the halls about their escalating bidding war for Rupert Murdoch‘s 21st Century Fox? Will Shari Redstone and Leslie Moonves, now fighting each other in court over control of CBS Corp., meet on a resort pathway or in a conference session? Several conference attendees admitted privately that the corporate soap operas have been the buzz of the confab in the early going.
Redstone and Moonves arrived at the lodge within an hour or two of each other. The same was true for Roberts and Murdoch. Murdoch pulled in to the circular driveway with his wife,...
- 7/11/2018
- by Cynthia Littleton
- Variety Film + TV
Things could get awkward at Sun Valley, the annual gathering of moguls and media barons taking place next month in Idaho.
Shari Redstone and Leslie Moonves, currently locked in a fierce battle for control of CBS that has them trading legal jabs and corporate put-downs on a daily basis, have both been invited to the one-percent confab. By the time Sun Valley takes place in July, Moonves may have succeeded in his plan to dilute the Redstone family’s control of CBS and prevent a shotgun merger with Viacom. If he fails, he could be out of a job.
Viacom CEO and Redstone favorite Bob Bakish’s name does not appear on the list.
Redstone and Moonves aren’t the only big names gassing up the private jets and hitting Idaho for Allen & Co.’s annual media conference. Facebook chief Mark Zuckerberg, Amazon head Jeff Bezos, General Motors CEO Mary Barra,...
Shari Redstone and Leslie Moonves, currently locked in a fierce battle for control of CBS that has them trading legal jabs and corporate put-downs on a daily basis, have both been invited to the one-percent confab. By the time Sun Valley takes place in July, Moonves may have succeeded in his plan to dilute the Redstone family’s control of CBS and prevent a shotgun merger with Viacom. If he fails, he could be out of a job.
Viacom CEO and Redstone favorite Bob Bakish’s name does not appear on the list.
Redstone and Moonves aren’t the only big names gassing up the private jets and hitting Idaho for Allen & Co.’s annual media conference. Facebook chief Mark Zuckerberg, Amazon head Jeff Bezos, General Motors CEO Mary Barra,...
- 6/1/2018
- by Brent Lang
- Variety Film + TV
After years of negotiations, it’s finally official: Mobile carriers Sprint and T-Mobile have agreed to join forces in a mega-merger, the two companies announced Sunday. The all-stock transaction, which puts the value of the combined company at $146 billion, is poised to significantly change the U.S. telecom and media landscape.
The combined company will be known as T-Mobile and led by T-Mobile CEO John Legere. T-Mobile’s current COO Mike Sievert will serve as president and COO of the combined company. Sprint CEO Marcello Claure will serve on the board of the new company, but not have any active management role. Joining him on the board will be Softbank CEO Masayoshi Son. T-Mobile is also keeping the combined company on its books.
T-Mobile majority owner Deutsche Telekom will hold a 42% stake in the new company, whereas Sprint majority owner SoftBank will hold 27%, with the rest held by public shareholders.
The combined company will be known as T-Mobile and led by T-Mobile CEO John Legere. T-Mobile’s current COO Mike Sievert will serve as president and COO of the combined company. Sprint CEO Marcello Claure will serve on the board of the new company, but not have any active management role. Joining him on the board will be Softbank CEO Masayoshi Son. T-Mobile is also keeping the combined company on its books.
T-Mobile majority owner Deutsche Telekom will hold a 42% stake in the new company, whereas Sprint majority owner SoftBank will hold 27%, with the rest held by public shareholders.
- 4/29/2018
- by Janko Roettgers
- Variety Film + TV
Charter Communications is not interested in a merger with Sprint Corp., a person familiar with the matter tells Bloomberg. Earlier this evening, The Wall Street Journal reported that Sprint chairman Masayoshi Son proposed a merger of his telecommunication company with Charter to form a publicly traded media and communications giant that would be controlled by Son’s SoftBank. SoftBank Group didn’t immediately respond to a request for comment. Also Read: Verizon Explores Charter Merger That Would Unite Giants (Report) In January, Verizon was exploring a merger with Charter. At the time, The Journal reported that Verizon chief Lowell McAdam...
- 7/29/2017
- by Rosemary Rossi
- The Wrap
Sachin Tendulkar
International sporting legend, Sachin Tendulkar, Hollywood’s most sought-after child star, Sunny Pawar, CEO of Mastercard, Ajay Benga, world-class snooker player, Ding Junhui and Google DeepMind CEO, Demis Hassabis were among the big winners at the seventh annual, The Asian Awards, a global celebration of Pan Asian excellence, on May 5th at the Park Lane Hilton, London.
The Asian Awards also paid tribute to Om Puri, who passed away earlier this year, with the Outstanding Achievement in Cinema award, which is given to those who push the boundaries of cinema-making. Om Puri’s wife, Nandita Puri and son, Ishaan Puri accepted the award on his behalf.
Hosted for the first time by comic genius, and winner of the 2015 Outstanding Achievement in Television award, Sanjeev Bhaskar, The Asian Awards was attended by London Mayor Sadiq Khan and glittered with A-listers like Lindsay Lohan, Meera Syal, Ding Junhui, Richard Osman,...
International sporting legend, Sachin Tendulkar, Hollywood’s most sought-after child star, Sunny Pawar, CEO of Mastercard, Ajay Benga, world-class snooker player, Ding Junhui and Google DeepMind CEO, Demis Hassabis were among the big winners at the seventh annual, The Asian Awards, a global celebration of Pan Asian excellence, on May 5th at the Park Lane Hilton, London.
The Asian Awards also paid tribute to Om Puri, who passed away earlier this year, with the Outstanding Achievement in Cinema award, which is given to those who push the boundaries of cinema-making. Om Puri’s wife, Nandita Puri and son, Ishaan Puri accepted the award on his behalf.
Hosted for the first time by comic genius, and winner of the 2015 Outstanding Achievement in Television award, Sanjeev Bhaskar, The Asian Awards was attended by London Mayor Sadiq Khan and glittered with A-listers like Lindsay Lohan, Meera Syal, Ding Junhui, Richard Osman,...
- 5/8/2017
- by Press Releases
- Bollyspice
This story first appeared in the Nov. 28 issue of The Hollywood Reporter magazine. The termination of merger talks between DreamWorks Animation and Hasbro has plunged the company behind Shrek and Penguins of Madagascar into a state of high anxiety. The stalled Hasbro negotiation is the second in recent weeks to be leaked to the media only to be declared dead within 48 hours. THR revealed Sept. 27 that Japan's SoftBank was interested in buying Dwa for as much as $3.4 billion. Around that point, however, SoftBank CEO Masayoshi Son had started to cool to the idea. Dwa was angling to
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- 11/19/2014
- by Kim Masters, Paul Bond
- The Hollywood Reporter - Movie News
Softbank will invest $627 million in Snapdeal, the fastest growing and largest online marketplace in India. See photos: President Barack Obama Speaks at DreamWorks (Photos) Founded in 2010 by Kunal Bahl and Rohit Bansal with more than 25 million registered users and 50,000 registered sellers, Snapdeal is being compared to China's e-commerce conglomerate Alibaba, which had $25 billion Ipo. Softbank, which owns Sprint, holds a 32 percent stake in Alibaba. Also read: Legendary Entertainment Receiving $250 Million Investment From SoftBank “Since SoftBank's foundation, our mission has been to contribute to people's lives through the Information Revolution,” said Masayoshi Son, Chairman and CEO of SoftBank Corp. “We believe India is.
- 10/28/2014
- by Gina Hall
- The Wrap
The Japanese conglomerate has found its Hollywood partner, investing a quarter of a billion dollars to form a joint venture with Legendary to maximise content via Ott platforms with particular emphasis on China and India.
SoftBank’s investment is expected to close in October subject to conditions and comes hot on the heels of an alleged courtship of DreamWorks Animation.
Vice-chairman of Softbank and CEO of Softbank Internet And Media Nikesh Arora will be appointed to Legendary’s board of directors as part of the transaction.
The deal gives Legendary the ability to leverage its IP rights, including television, digital, licensing, merchandising – “and other ancillary lines” according to a press release – across the Ott service. Among its many holdings, Softbank owns telecoms company Sprint.
“Our goal at Simi is to leverage SoftBank’s international platform and network of internet and media partners to accelerate content creators’ digital strategies and extend their global reach,” said Arora.
“Legendary...
SoftBank’s investment is expected to close in October subject to conditions and comes hot on the heels of an alleged courtship of DreamWorks Animation.
Vice-chairman of Softbank and CEO of Softbank Internet And Media Nikesh Arora will be appointed to Legendary’s board of directors as part of the transaction.
The deal gives Legendary the ability to leverage its IP rights, including television, digital, licensing, merchandising – “and other ancillary lines” according to a press release – across the Ott service. Among its many holdings, Softbank owns telecoms company Sprint.
“Our goal at Simi is to leverage SoftBank’s international platform and network of internet and media partners to accelerate content creators’ digital strategies and extend their global reach,” said Arora.
“Legendary...
- 10/2/2014
- by jeremykay67@gmail.com (Jeremy Kay)
- ScreenDaily
The Japanese conglomerate has found its Hollywood partner and will form a joint venture with Legendary to maximise content via Ott platforms with particular emphasis on China and India.
SoftBank’s investment is expected to close in October subject to conditions. Vice-chairman of Softbank and CEo od Softbank Internet And Media Nikesh Arora will be appointed to Legendary’s board of directors as part of the transaction.
The deal gives Legendary the ability to leverage its IP rights, including television, digital, licensing, merchandising – “and other ancillary lines” according to a press release – across the Ott service. Among its many holdings, Softbank owns telecoms company Sprint.
“Our goal at Simi is to leverage SoftBank’s international platform and network of internet and media partners to accelerate content creators’ digital strategies and extend their global reach,” said Arora.
“Legendary is already a content powerhouse and we are very excited to make this investment and help them bring their incredibly...
SoftBank’s investment is expected to close in October subject to conditions. Vice-chairman of Softbank and CEo od Softbank Internet And Media Nikesh Arora will be appointed to Legendary’s board of directors as part of the transaction.
The deal gives Legendary the ability to leverage its IP rights, including television, digital, licensing, merchandising – “and other ancillary lines” according to a press release – across the Ott service. Among its many holdings, Softbank owns telecoms company Sprint.
“Our goal at Simi is to leverage SoftBank’s international platform and network of internet and media partners to accelerate content creators’ digital strategies and extend their global reach,” said Arora.
“Legendary is already a content powerhouse and we are very excited to make this investment and help them bring their incredibly...
- 10/2/2014
- by jeremykay67@gmail.com (Jeremy Kay)
- ScreenDaily
After talks to acquire DreamWorks Animation did not result in a deal, SoftBank announced Thursday that it will invest $250 million in Legendary Entertainment, with the deal expected to close this month. Softbank also has an option to make two more investments of $375 million each through 2018, which, if exercised, could bring its total investment to $1 billion, The Hollywood Reporter has confirmed. Variety first reported the additional optional investments. On Monday, THR revealed the talks between the Japanese conglomerate and the Hollywood studio. “[Founder and CEO] Masayoshi Son has built SoftBank into one of the world's most respected companies. With
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- 10/2/2014
- by Erik Hayden, Georg Szalai
- The Hollywood Reporter - Movie News
Japan’s SoftBank had been very publicly kicking the tires of DreamWorks Animation but its interest reportedly shifted this week to Thomas Tull’s Legendary Entertainment soon after Dwa talks cooled. Now there’s a deal: The companies just announced SoftBank will invest $250 million in Legendary and the two will form a joint venture to exploit the production company’s intellectual property rights worldwide. That includes TV, digital, licensing and merchandising on various platforms — with a focus on the China and India markets.
SoftBank’s investment is expected to close in this month, and Softbank Vice Chairman Nikesh Arora, also CEO of SoftBank Internet and Media, will join Legendary’s board of directors as part of the deal.
“[SoftBank CEO] Masayoshi Son has built SoftBank into one of the world’s most respected companies,” Tull said in announcing the deal. “With the arrival of Nikesh and the launch of Simi, they have...
SoftBank’s investment is expected to close in this month, and Softbank Vice Chairman Nikesh Arora, also CEO of SoftBank Internet and Media, will join Legendary’s board of directors as part of the deal.
“[SoftBank CEO] Masayoshi Son has built SoftBank into one of the world’s most respected companies,” Tull said in announcing the deal. “With the arrival of Nikesh and the launch of Simi, they have...
- 10/2/2014
- by The Deadline Team
- Deadline
A version of this story first appeared in the Oct. 10 issue of The Hollywood Reporter magazine. Is the SoftBank bid to buy DreamWorks Animation dead or just resting? Neither side is talking. But those talks, plus news that SoftBank is planning a significant investment in Thomas Tull's Legendary Pictures — coming a week after China's Fosun Group announced a $200 million stake in former Warner Bros. chief Jeff Robinov's Studio 8 — underscore that the courtship between Hollywood and deep-pocketed Asian investors is heating up. And SoftBank's U.C. Berkeley-educated founder and CEO, Masayoshi Son — the richest
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- 10/1/2014
- by Kim Masters
- The Hollywood Reporter - Movie News
Asian billionaires are high on Hollywood and it's only a matter of time before the industry starts to see a wave of acquisitions and partnerships between high-profile producers and Asian investors. So who's buying and who are the primary targets? SoftBank has been courting both DreamWorks Animation and Legendary Pictures, according to reports, but Softbank billionaire CEO Masayoshi Son isn't the only player looking for Hollywood relationships and access to content. Also read: DreamWorks Talks May Signal Consolidation Wave by Cash-Rich Asian Companies Alibaba CEO Jack Ma, who has gone on the record naming Hollywood film “Forest Gump” has his favorite of all time,...
- 10/1/2014
- by Gina Hall
- The Wrap
Japan's financial conglomerate SoftBank has cooled off from its talks to acquire DreamWorks Animation, and has instead set its sights on buying a stake in Thomas Tull‘s Legendary Entertainment, according to media reports. SoftBank CEO Masayoshi Son has been in talks with Tull for several weeks in addition to his negotiations with DreamWorks CEO Jeffrey Katzenberg. The Legendary deal would not give SoftBank a majority stake, but could still be considered a major investment, according to The Hollywood Reporter. A spokeswoman for Legendary declined to comment to TheWrap. Also read: DreamWorks Talks May Signal Consolidation Wave by Cash-Rich Asian Companies Softbank,...
- 9/30/2014
- by Linda Ge
- The Wrap
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