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April 29, 2016

April 29th News Report from your Los Angeles Representative

Weekly Update from Kelly Graham-Scherer, Los Angeles Representative

Happy Friday everyone,

It is rumored that the British Columbia government will make an announcement today regarding changes to film and television tax credits in that province. If any news breaks later today, expect to see a supplement to this report in your in-box.

The other big news which has dominated headlines this week is the $3.8 billion sale of DreamWorks Animation to Comcast, the parent company of NBCUniversal. Although the Los Angeles Times story below was published just before the details were confirmed, it offers a comprehensive look at how Comcast's drive to become an entertainment colossus to rival ABC Disney has massive implications across the screen-based industries.
http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-dreamworks-comcast-20160428-story.html

The Hollywood Reporter also took a look at the implications of the Comcast takeover, specifically focusing on which of the current Hollywood studios stand to benefit from what many see is the first in a series of upcoming mergers and acquisitions. As detailed below, shares of Lionsgate, which has a Canadian tax domicile, jumped more than 7 percent after the DreamWorks deal was unveiled.
http://www.hollywoodreporter.com/news/hollywood-feeding-frenzy-how-dreamworks-888597

The deal also has major implications not just for ancillary businesses, but for the theme park business for which Disney and Universal Studios compete fiercely. As the Hollywood Reporter details below, DreamWorks Animation's particular genre of IP hews a lot closer to the kind of cultural output that has helped make Disneyland and its sister parks the happiest places on Earth.
http://www.hollywoodreporter.com/news/how-will-dreamworks-animation-boost-888705

Finally this week, after years of being overshadowed by digital rivals, television network broadcasters may be in line for a comeback as they prepare for upfronts the week of May 16th. Upfronts is the marketplace in which major networks present programming for the 2016-17 TV season to Madison Avenue. As detailed in the L.A. Times below, advertising and media agency executives say the pendulum is swinging back to TV ads because they are easier to buy, advertisers feel more secure with commercials and they are not always sure their digital ads are being seen.
http://www.latimes.com/entertainment/envelope/cotown/la-et-0428-ct-upfront-networks-20160429-story.html

Warmest regards,

Kelly Graham-Scherer
Los Angeles Representative
Toronto/ Ontario Film Office

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