Embracer Group raises $164m for acquisition and expansion
Gamesindustry.biz reports: “Embracer Group has raised SEK 1.64 billion ($164 million) through a directed share issue for investment and acquisitions.”
What Will Entertainment Industry Schmoozefests Look Like In The Future?
Forbes reports: “The roster of cancelled industry schmoozefests amid COVID-19 is long: the film/tech/music festival South By Southwest, theater owners’ CinemaCon, the ad industry’s Cannes Lions, San Diego Comic-Con’s pop culture explosion, among much else.”
Facebook Gaming launches Tournaments
The Verge reports: “Facebook Gaming is launching a feature today meant to bring people together virtually while they can’t be in the same place physically. It’s called Tournaments, and it does exactly what it says on the tin.”
Gaming hours, spend, digital purchases up as COVID-19 keeps players inside
Gamesindustry.biz reports: “As more and more people are stuck inside due to the spread of COVID-19, those who already play video games actively are increasing their playing time, social play, and spend.”
Quibi App Downloads on Launch Day Were 7.5% of Disney Plus’ Booming Debut
Variety reports: “Quibi’s first-day app downloads hit around 300,000, coming after months of steady hype surrounding Jeffrey Katzenberg’s ambitious mobile-only streaming service.”
AT&T Unveils $5.5B Loan Amid Virus Crisis, Touts “Strength” of Subscription Businesses
The Hollywood Reporter reports: “WarnerMedia owner AT&T on Tuesday said it has struck a deal for a $5.5 billion loan, boosting its liquidity amid the coronavirus crisis. It also said it expects to be “sizing our operations to economic activity,” a sign of possible layoffs or reduced investment amid the crisis.”
Music Industry’s Biggest Lawsuits Have Been Put on Hold Due to Coronavirus
Billboard reports: “As the court system comes to grips with the pandemic, only essential legal cases are being heard.
Even for someone like former KAABOO owner Bryan Gordon, who’s no stranger to a courtroom, 2020 was going to be rough.”
ViacomCBS Networks International Acquires Israeli Producer and Pay-TV Firm Ananey
Variety reports: “ViacomCBS Networks International (VCNI) has acquired Israeli content producer and pay-TV channel provider Ananey Communications Group. VCNI is acquiring the shares in Ananey it does not already own, following its acquisition of a minority stake in the company in December 2016.”
Skydance Media Acquires Animation Unit of Madrid’s Ilion Studios
The Hollywood Reporter reports: “Skydance Media, the media company founded by David Ellison in 2010, on Monday said it has acquired the animation unit of Madrid-based Ilion Studios to form Skydance Animation Madrid.”
Showbiz Stocks Surge From Theater Chains To Broadcasters On Glimmer Of Market Hope Pandemic Is Running Its Course
Deadline reports: “Stocks rallied sharply Monday with many media shares outpacing the broader market as Wall Street – at least for today – evinced a glimmer of hope at the U.S. trajectory of the coronavirus pandemic, even as Wall Street analysts have only begun to calculate the dire impact of the virus on corporate finances for the current quarter.”
