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May 16, 2006
Worth a Mention - May 16, 2006
Michael Bay Acquires Digital Domain
(Darkhorizons.con) George Lucas has Industrial Light + Magic, Peter Jackson has Weta, and now Michael Bay has Digital Domain reports Reuters.
Investment Group Wyndcrest Holdings, in which Bay and former NFL star Dan Marino are principals, are set to announce today the acquisition of the 13-year-old visual effects studio in a deal estimated to be worth $35 million.
Considered one of the 'big four' of feature film effects houses, Digital Domain was founded director James Cameron and F/X guru Stan Winston in 1994 and has worked on the visuals of such films as "Titanic" and "What Dreams May Come".
Its likely that Bay's next pic "Transformers" will award its effects contract to the company.
Official Press Release On DD:
DIGITAL DOMAIN ACQUIRED BY INVESTMENT GROUP
THAT INCLUDES DIRECTOR MICHAEL BAY
Wyndcrest Holdings, LLC Principals Michael Bay and John Textor to co-chair the Digital Domain Board of Directors
Former senior Microsoft executive and Wyndcrest Principal Carl Stork named CEO and Board member; C. Bradley Call to remain president and COO of Academy Award® -winning firm
Venice, Calif., May 16, 2006 – Digital Domain, the Academy Award®-winning full-service digital studio and production company responsible for jaw-dropping visual sequences in such films as “Titanic,” “Day After Tomorrow” and “I, Robot” as well as commercials such as the recent Budweiser Super Bowl “Superfan” spot, has been acquired by South Florida-based Wyndcrest Holdings, LLC, a group led by director Michael Bay and investor John Textor.
Carl Stork, a long-time senior Microsoft executive and principal of Wyndcrest Holdings, has been elected chief executive officer and a member of the Board of Directors of Digital Domain, replacing Scott Ross who is stepping down as CEO and remaining a consultant to the company. C. Bradley Call will remain president and chief operating officer. Bay and Textor will co-chair the Board of Directors.
“At a time when every top grossing motion picture is relying on digital visual effects to help tell compelling and entertaining stories, we believe this translates into a bright future for companies in this field, and we believe Digital Domain represented a unique opportunity to invest,” said Stork, whose accomplishments at Microsoft included leading the development of Windows® 95/98. “The creative and talented team at Digital Domain has a great reputation in both the feature film business and in the commercial advertising community for high-quality, award-winning work. Adding the expertise, business acumen and diverse relationships of the Wyndcrest principals will allow Digital Domain to capitalize on the rapidly expanding opportunities in the entertainment business.
“On behalf of all involved with Digital Domain, I would like to thank Scott Ross for his remarkable contributions as a founder and leader of the company over the past 13 years,” Stork said. “We intend to draw on his advice and counsel over the coming years and we wish him well in his future endeavors.”
“Having worked with Digital Domain in the past, I am well aware of the talent and creativity of the team here, and understand first-hand why the company has a well-earned reputation for creative and high-quality work,” said Bay. “Rapidly evolving digital visual effects technology is going to allow motion picture directors to tell even more compelling and visually stunning stories in the future, and we believe that Digital Domain is uniquely positioned to take advantage of these new technologies, as well as new distribution channels and platforms.”
“Digital Domain is well-positioned with exceptional people and leading technology at a time when reliance on visual effects is increasing in every sector of entertainment,” said Textor, who has known Bay since their days at Wesleyan University and has been his business partner for eight years. “We look forward to combining these attributes with a renewed commitment to build the commercial and film industries’ leading director-centric visual effects business. Through the addition of new capital and the appropriate strategic relationships, we are also committed to the extension of the Digital Domain business into the direct development of animated films and effects-reliant live action films.”
“While we all believe we’ve accomplished a great deal in the industry, we’re incredibly enthusiastic about the future as we believe this new ownership group will provide the necessary capital and strategic resources to allow us to grow our business profitably in both feature films and in advertising while retaining an environment that encourages our artists to strive for ever-greater heights of creative excellence,” said Call, a decade-long Digital Domain executive who assumed the presidency of Digital Domain, as well as day-to-day responsibility for leading the company, in 2002.
“We know that our future depends on continuing to satisfy the creative needs of our clients in a manner, and on a budget, that other competitors cannot match,” Call added.
Stork will take over as Digital Domain CEO effective immediately.
ABOUT DIGITAL DOMAIN
Founded in 1993, Digital Domain is an award-winning full-service digital studio and production company that creates special visual effects and other visual imagery for feature films, commercials and music videos. A pioneer in digital effects, Digital Domain’s business units have been recognized with awards from the top industry organizations. In its 13-year history, Digital Domain has won five Academy Awards®: two for Best Visual Effects (“Titanic,” “What Dreams May Come”); and three for Scientific and Technical Achievement for its proprietary imaging software. The company has also been nominated for three other Academy Awards® for Best Visual Effects (“Apollo 13,” “True Lies,” “I, Robot”). In addition, its excellence in digital imagery and animation has earned Digital Domain multiple British Academy (BAFTA) Awards, and Prix Arts Electronica and Prix Pixel INA awards.
Digital Domain’s Commercials division provides digital imagery and animation for television commercials, working with the top commercial directors. Serving Fortune 100 companies, the division has built a reputation as an innovator and industry leader in television commercial production and is the largest and most-awarded creator of digital imagery in its field. To date, it has been awarded 34 Clio Awards, 22 AICP awards, 8 Cannes Lion Awards and numerous other advertising honors. The Commercials division has also produced multiple music videos working with artists that include The Rolling Stones, Faith Hill, Creed, Janet Jackson, Busta Rhymes, Bjork, Celine Dion, Michael Jackson and Nine Inch Nails, and has earned Grammy® and MTV “Music Video of the Year” Awards.
Digital Domain’s D2 Software subsidiary was established to productize the software tools developed by Digital Domain, such as the company’s Academy Award®-winning Nuke™ compositing package.
Using high-end digital software technology, Digital Domain capitalizes on the studio’s extensive industry relationships and years of production experience to develop films of exceptional quality for an international audience. For more information, please see www.digitaldomain.com.
ABOUT WYNDCREST HOLDINGS
Wyndcrest Holdings, LLC, is a Florida-based private investment and acquisition firm focused on technology-related opportunities in entertainment, telecommunications and the Internet. Wyndcrest actively supports its portfolio companies to assure the optimal positioning and deployment of associated technologies as well as the efficient execution of related business plans.
Wyndcrest is comprised of five investment principals with significant financial and legal expertise in the closure of public/private mergers, acquisitions and investments, and in the operation of large, small and start-up companies. The principals, John Textor, Michael Bay, Jonathan Teaford, Carl Stork and Dan Marino, have direct extensive experience in the disciplines of management, technology development, strategic planning, business development and investment banking. For more information, please see www.wyndcrest.com.
More: http://www.d2.com/press_release.html
FANTASTIC FOUR 2 Flies to a New Date
(cinescape.com) It seems the Fantastic Four are no match for a bunch of toys. Transformers and Fantastic Four had both been staking claim to the July 4th, 2007 release date, a game of chicken if you will. The Fantastic Four swerved first.
Bumping the release up two weeks, Fantastic Four 2 will now release on June 15th. This marks the second time Fantastic Four has chickened out, once with War of the Worlds and once with Transformers. The original Fantastic Four was also slated to release on July 4th and also moved up two weeks to avoid another tent pole.
The collapse in Used Guys production left the June 15th date open.
MGA, Crystal Sky & Arad Team on Bratz
(comingsoon.net) MGA Entertainment, Inc., Avi Arad Productions and Crystal Sky Pictures are teaming up to bring MGA's famous Bratz dolls to the big screen.
A screenplay, tentatively entitled Bratz, is in the process of being written with a targeted production start of late fall 2006 in Los Angeles.
Under the deal, Crystal Sky Pictures will finance a live action feature film based on the popular Bratz characters. MGA's Isaac Larian, Avi Arad, and Crystal Sky's Steven Paul will produce the picture, and Crystal Sky Pictures president Benedict Carver will executive produce.
Bratz is one of the biggest-selling toy franchises in the world. Its array of spin-off products include a Bratz magazine, an animated series on 4 KidsTV, a number of DVD titles and videogames, as well as a number one selling album on the Billboard Children's Chart and multiple lines of clothing, footwear and other accessories.
"We are very excited about working with Avi Arad and Crystal Sky Pictures to create the definitive 'Bratz' live action feature film," said MGA founder and CEO Isaac Larian. "They both have a good understanding of the kids' market and a real feel for the 'Bratz' brand."
"One of my first loves was the doll industry. 'Bratz' allows me to revisit the girl's business. The 'Bratz' attitude and character will make an exciting and inspirational live-action feature," said Avi Arad.
"'Bratz' underscores Crystal Sky's strategy of delivering strong film franchises to the worldwide distribution community," said Crystal Sky chairman Steven Paul. "I am excited to be in business once again with Avi Arad, and for the first time with Isaac Larian of MGA."
Dreamworks Anim Producer: "You always have to be sure & take those meetings"
(jimhillmedia.com) It's one of Hollywood's great unwritten rules: "Take every meeting."
Meaning that -- no matter how unlikely it may seem that anything productive will actually come out of a face-to-face meeting with an industry exec -- you should still explore every possiblity. In short, take every meeting.
And no one understands this better than Bonnie Arnold, the producer of Dreamworks Animation's latest animated feature, "Over the Hedge." Back in 1991, Arnold was just an associate producer. Mind you, she was an associate producer who had worked on some very impressive motion pictures: Most notably Kevin Costner's 1990 Academy Award winner, "Dances with Wolves" as well as that 1991 holiday season smash, "The Addams Family."
But -- at the same time -- Bonnie was still just an associate producer. Which -- in the really-for-real Hollywood hierarchy -- wasn't all that high in the food chain. Which is why -- when Walt Disney Pictures called and said that they were interested in offering her a position as an in-house line producer -- Ms. Arnold followed the conventional wisdom and said: "Sure, I'll take that meeting."
Which is how Bonnie wound up at the Mouse House in early 1992. And during her get-acquainted phase (Where Ms. Arnold was making the rounds at the studio, trying to find a project that she actually felt passionate about), Bonnie bumped into Peter Schneider, the then-head of Disney Feature Animation.
And Mr. Schneider ... He was intrigued by Ms. Arnold's experience with visual effects. Particularly all of the sequences in "The Addams Family" that had made use of computer animation. Peter explained to Bonnie that "We've got this movie that we're thinking of making. One that would involve an awful lot of CG. But -- to be honest -- we're unsure about how to handle this project. We don't know whether to treat this production as a straightforward film or just as 1500 effects shots that are strung together."
Schneider asked Ms. Arnold if she might be interested in riding herd on this still-somewhat-shakey WDFA project. Bonnie said yes. But before Peter could actually give her the job, Bonnie had to "take a meeting" with this film's director, John Lasseter.
So Lasseter & Arnold met and really hit it off. Which is how Bonnie wound up being the producer of "Toy Story," the picture that helped make Pixar Animation Studios into the powerhouse that it is today.
More: http://jimhillmedia.com/blogs/jim_hill/archive/2006/05/16/2409.aspx
Bryan Singer Leaving "Logan's Run"?
(darkhorizons) Bryan Singer is taking a break after wrapping up work on "Superman Returns" which means he may not direct the remake of "Logan's Run" after all reports Variety.
Warner Bros. and producer Joel Silver want to start lensing the sci-fi pic this fall, which would've meant Singer would end up shooting two tentpoles -- "Logan's" and a "Superman Returns" sequel -- back-to-back.
Even if he doesn't direct "Logan's Run," Singer is still likely to play some sort of role and perhaps take a producer's credit. "V for Vendetta" director James McTeigue is rumoured to be stepping up to the helm but at present its only speculation.
Singer himself is not expected to make an official decision either way about "Logan's Run" until "Superman Returns" bows in July. Assuming "Superman Returns" is a hit, Warners plans to start shooting the sequel in the later part of 2007 with Singer again at the helm.
Flop Goes The Movie, in Hiding Goes the Exec
(latimes.com) In Hollywood, it's always safest to kick a man when he's down.
Last week the movie jungle was abuzz with glee over the lackluster opening of "Mission: Impossible 3," largely because Tom Cruise's popularity in Hollywood is roughly on a par with Dick Cheney's. This week the knives are out for "Poseidon," an eye-rolling remake of the 1972 epic that had such a dismal debut, barely cracking the $20-million mark in its opening weekend, that naysayers have dubbed it the disaster movie that really is a disaster.
The reviews were not kind — the Wall Street Journal's Joe Morgenstern called "Poseidon" a "deeply dreadful movie." Inside the industry, talk focused on who at Warner Bros. would take the blame for a $160-million project that will depend on gullible filmgoers in Stuttgart and Senegal to make its money back. In a business where envy and insecurity reign supreme, there's nothing worse than having a movie that doesn't open. If you don't feel bad enough already, someone else will be happy to rub some salt in your wounds.
Hollywood is so enamored by success that few people can cope with the flop sweat of failure. "You feel as if you've been sucker punched, like the wind's knocked out of you," says former Warners production chief Bill Gerber, now a producer, who has survived stinkers like "The In-Laws." "It's agonizing. As a producer, you can be working on a movie for 10 years and then by Friday night, it's over. And it's a very public humiliation. It's tough walking into the Grill on Monday, feeling the pain."
Not that you can't see it coming a mile away, especially in today's instant-info world where research tracking numbers paint a pretty accurate picture of a movie's box-office potential in the weeks leading up to its release. By early last week, the bad buzz about "Poseidon" was fueled by NRG tracking numbers that showed that while 27% of moviegoers said "The Da Vinci Code" was their first-choice movie and 17% said "X-Men: The Last Stand" was their first choice, "Poseidon" was a first choice of a mere 6% of moviegoers.
"As the head of a studio, you can see it coming," said Joe Roth, who has run 20th Century Fox, Disney and Revolution studios. "The tracking surveys are pretty accurate, at least on a pass-fail basis, so you have to prepare yourself. But the actuality is always worse. This is a business where, in terms of emotions, the hits are always bigger but the flops are always bigger too."
After a fall, some people flee the city, seeking refuge. Others stay inside, the doors closed and lights dim. When I had lunch with producer Brian Grazer after one of his movies fizzled, we stayed in his office instead of heading over to the Grill. "Going out is just too awkward," he explains. "Nobody knows what to say. And if I don't know what they mean when they say 'congratulations' after I've had a hit, how do I know what they mean when they say, 'Oh, I'm so sorry?' "
After all, who wants to work the room when your friends, not to mention your enemies, can barely disguise their glee at seeing you fall on your face? "That's definitely what made it hard for me to get out of bed after 'Dumb and Dumberer' came out," says New Line production chief Toby Emmerich, recalling his reaction to the 2003 summer sequel that, as the saying goes, aimed low and missed. "You don't want to face all that negative energy."
The negative energy is, of course, not new. In "Final Cut," Steven Bach's bracing account of the making of "Heaven's Gate," the former United Artists executive recalls being at a virtually empty ballroom where the studio had a reception after the ill-fated movie's premiere. If the mood were not already grim enough, Bach was accosted by the manager of one of the actors in the picture, who said with gin-soaked breath, "Now I can tell you what I've always wanted to tell you, which is what a [jerk] you are."
Producer Steve Tisch hasn't forgotten the lonely feeling of having to put on a brave public face after making "The Postman," a costly 1997 Kevin Costner dud. "When you go to the Grill for your Monday lunch after you've had a $100-million movie that flops, you have the feeling as you're walking by everyone is whispering, 'There's the poor guy who produced "The Postman." ' It can be very humbling."
Roth says he learned from watching how people like Barry Diller and Michael Eisner handled failure. "They were good in defeat," he said. "In fact, Eisner was much better in defeat than in victory. He'd always say, 'Try as hard as you can, take your chances, then get on with life.' Privately you're at home, depressed, retching, not answering the phone or reading the papers. But you have to come into the office on Monday and try to be optimistic, without being an idiot about it, like jumping on couches. You just put it behind you."
Producer Sean Daniel was the head of production at Universal for someone who really hated to lose — industry titan Lew Wasserman. "When a movie failed, Lew was profoundly unhappy and he shared it with you — you knew it," he recalls. "But he had perspective. He'd remind you that this was just one event in the big picture and you should never lose sight that you'd live to fight another day."
Still, the signs of defeat are unmistakable. "The sound of failure is silence," says Terry Press, head of marketing at DreamWorks. "When you have a hit, your phone starts ringing at 6:45 a.m. and never stops. In failure, there is a deafening silence. No calls from distribution, no calls from journalists, no calls from the filmmakers. It's the Hollywood version of bird flu. You feel like everyone is saying, 'Get my mask out. I don't want to be near any failure germs.' Even your own relatives don't call."
For producer Mike De Luca, who was head of production for years at New Line Cinema, nothing was quite as fraught as riding in the elevator up to the office with studio chief Bob Shaye after a bad opening weekend. "Bob and I had known each other a long time, so when I'd lost him a lot of money and we got in the elevator together I could tell by the way he looked at me — and didn't say anything at all — that it was going to be a very long day."
Some movies have such walloping bad press along the way that by the time they open it almost feels as if the worst is over. In 1992, when he made "Toys," producer Mark Johnson was shocked to hear his film trashed before anyone had seen it. "We were on a dubbing stage, trying to finish the movie, and one of the morning TV talk shows had a reporter going through the lineup of summer films, and when he came to 'Toys,' he said, 'This is going to be a real stinker.' I mean, we hadn't even finished the movie, and we were already marked as a disaster."
De Luca, who greenlighted "Town & Country" at New Line, wasn't even around to suffer when the movie was released. "The studio was so sure it was a flop," he recalled, "that they preemptively fired me before the movie came out."
So is there any way to retain a healthy psychological perspective? Or should you just go out and get drunk, a popular remedy for generations of hard-driving industry strivers? The New Hollywood opts for a more holistic approach. For Tisch, surviving a flop is a lot like going through the seven stages of grief, moving from anger and denial to knowledge and acceptance. As Emmerich put it: "Whether it's a giant bomb or a huge hit, it's always better not to smoke the Hollywood crack pipe. It's just as bad to over-celebrate a giant hit as it is to be masochistic about a huge flop. They're both going to send you to the wrong place."
Press says that when she has a failure, she stays home and cooks. "It's therapeutic. You put all these things in a bowl, shove it in the oven and out come brownies. You feel like — finally I succeeded at something."
Going into the weekend, Warners, at least publicly, still sounded optimistic about "Poseidon." While admitting that "we're a bit taken aback by the tracking numbers," studio chief Alan Horn said, "the tracking looks good overseas — it's doing even better than 'Troy.' " He reminded me that several Warners films that had been judged flops in their U.S. openings had gone on to success in the international marketplace. "I'm not a one-weekend guy," he said. "I don't count the votes till they're all in."
If things don't pan out for "Poseidon," the Warner execs might try the De Luca recovery method. After "Zathura," a film he produced, tanked last year, De Luca screened "Elf," the 2003 hit made by the same director, Jon Favreau. "It was a good way to remind myself that I'd worked with someone I admire," he said. "When I've had flops I've watched 'Caddyshack' to make me laugh, or 'Godfather 2' to inspire me. It reminds you that great movies exist, even if you didn't actually make one this time around."
Posted by dschnee at May 16, 2006 02:19 PM