PRO Tip Sheet: 5 Insights From This Week

This week we reported on how investors are threatening lawsuits over Paramount’s deal with Skydance Media, on the crisis at Sundance behind Joana Vicente's exit, on Kim Kardashian’s pivot to star in movies and on how “NCIS” became a global franchise. 5Insights From WrapPRO]( This week we reported on how investors are pushing back on Paramount Global’s negotiations with Skydance Media and warning of lawsuits if the board doesn’t consider other offers. We also unearthed the broader crisis at Sundance that is behind the exit of CEO Joana Vicente, delved into Kim Kardashian’s ambition to become a movie star and how streamers are looking to bank on her fame, explained how “NCIS” became a global franchise for CBS as it hits 1,000 episodes and discussed whether a post-strikes Hollywood is ready for AI film festivals. 1. [Investors Call Skydance Deal for Paramount ‘Suboptimal’ and Warn of Lawsuits]( By Manfredi and Emily Smith | Source:WrapPRO]( - Paramount and Skydance are nearing a deal that could give David Ellison's company control, but shareholders are concerned about potential decreases in ownership stakes and the exclusion of better offers, particularly Apollo Global Management's bid. - Shareholder dissent highlights tensions between maximizing Redstone's interests and upholding fiduciary responsibilities, with concerns raised over fairness and the potential for costly lawsuits if the special committee's recommendation is disregarded. - Some shareholders criticize Skydance's bid as “suboptimal” and argue that it prioritizes Redstone's interests over the broader shareholder base, while Apollo's $26 billion cash offer has not been seriously considered, prompting concerns about the fairness of the process. [Keep Reading]( 2. [At Sundance, Behind the Exit of CEO Joana Vicente Looms a Larger Crisis]( By Sharon Waxman and Drew Taylor | Source: [WrapPRO]( - Joana Vicente's departure from the Sundance Institute reflects underlying challenges in articulating a clear vision for the festival amidst a shifting landscape for independent film, exacerbated by the complexities of the COVID-19 pandemic and donor engagement. - Financial struggles, exacerbated by pandemic-related disruptions and evolving market dynamics, have led to questions about Sundance's ability to maintain its key position in the independent film ecosystem, amid declining revenue and a shrinking marketplace for indie films. - Woke tensions and internal conflicts, exemplified by the controversy surrounding the screening of “Jihad Rehab” at Sundance 2022, have contributed to a broader sense of uncertainty and disillusionment within the organization. [Keep Reading]( 3. [Kim Kardashian Wants to Be a Movie Star and Streamers Hope to Bank on Her Mega-Fame]( By Kristen Lopez and Emily Smith | Source:WrapPRO]( - Kim Kardashian wants to pivot from reality TV to movie stardom, as she leverages her massive following and diverse appeal to secure deals with major studios like Amazon MGM and Netflix. - While Kardashian lacks extensive acting experience, her ability to engage and convert audiences, demonstrated by her success in reality TV and fashion, is a key factor driving studios' interest in her projects. - Streamers, in particular, see Kardashian as a valuable asset due to her potential to attract Gen Z viewers and drive subscription growth, while traditional studios are more skeptical she can deliver box office hits. [Keep Reading]( 4. [‘NCIS’ Hits 1,000 Episodes: How the CBS Procedural Became a Global Franchise]( By Jose Alejandro Bastidas | Source:WrapPRO]( - “NCIS,” which marks its 1,000th episode on Monday, defied early ratings struggles to become a global phenomenon, with over 300 million viewers across all platforms, showcasing the potential for long-term success and international appeal in TV franchises. - The 21-year-old franchise's strategic focus on ensemble casts, engaging storytelling, and broad audience appeal has fueled its longevity, despite challenges such as cast shakeups and behind-the-scenes issues. - With plans for new spin-offs like “NCIS: Origins” and international versions like “NCIS: Sydney,” the franchise continues to innovate and expand its storytelling universe, demonstrating the ongoing potential for growth and adaptation in the entertainment industry. [Keep Reading]( 5. [Is Post-Strike Hollywood Really Ready for an AI Film Festival?]( By Diane Haithman | Source: [WrapPRO]( - Despite recent Hollywood strikes over AI use, Runway's AI Film Festival is set to return for its second year, highlighting a growing interest and acceptance of AI in filmmaking. - The festival showcases a range of AI applications in film, from text-to-image to editing techniques, reflecting a broader trend of tech companies pushing AI's creative potential. - While some see AI as a tool for creative empowerment, others, including unions like SAG-AFTRA, remain cautious, wary of AI's potential to replace human creativity and its impact on jobs in the industry. [Keep Reading]( With a focus on delivering actionable intelligence, the PRO Tip Sheet empowers readers to stay ahead of the game in the industry. Want to go deeper? [Explore WrapPRO today](. TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Unsubscribe](