Archive for June 16th, 2008
Posted by: in Management
Filed under: Management, Private equity industry, Value and lack thereof, Public or private?
Landry’s Restaurants, Inc. (NYSE: LNY) has announced that it has entered into a definitive agreement with Fertitta Holdings, Inc.
Fertitta has concurred to acquire all outstanding common stock for $21.00 per share in cash. This represents a premium of approximately 37% over the closing share price of the Company’s common stock on April 3, 2008. This was the last day before disclosure of the revised offer made by Mr. Fertitta to acquire the company. The total value of the transaction is approximately $1.3 billion, which includes approximately $885.0 million of debt.
Fertitta is a newly formed entity wholly owned by the company’s Chairman, President, CEO and original founder, Tilman J. Fertitta. Mr. Fertitta beneficially owns approximately 39% of the Company’s outstanding shares of common stock.
Continue reading the implications and analysis at 247WallSt.com.
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Filed under: Industry, Programming, WGA Strike, Reality-Free
 And you thought that all that business with the WGA strike was over.
The writers for the new animated FOX show Sit Down, Shut Up have walked out, saying they were misled by Sony Pictures. They thought that under the agreement reached a few months ago they would be represented by the Writer’s Guild of America but Sony actually has them covered under the International Alliance of Theatrical Stage Employees. Under their rules, writers don’t get all those things they fought for, including new media (online, DVD, etc) money or even residuals.
Continue reading Sit Down, Shut Up writers stand up and walk out
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Filed under: News, Industry, OpEd, Watercooler Speak, Reality-Free
 I’m sure a lot of you were scratching your heads over the weekend, wondering how Tim Russert’s passing merited the all-encompassing, presidential-like coverage it got, especially on his home network of NBC. He’s only a reporter, right? Why the wall-to-wall coverage? Well, first of all, it seems that by all accounts, Russert was one of the most well-liked people in the news business, so the outpouring might have been a function of people mourning a friend who was taken from them too soon. But, I’ve another, more off-beat theory as to why NBC did a broadcast version of sitting shiva for Russert: it was because they’ve no idea how to replace him.
Think about it: he wasn’t only the longtime moderator of Meet The Press, where he took the venerable show and rejiggered its format, making him the face of the show. He was also NBC News’ Washington bureau chief and the main political voice for the network. “It’s going to take four or five people to replace Tim,” CBS’ Bob Schieffer told The New York Times.
For now, though, the immediate question is who will replace him on Meet The Press. Speculation is already underway.
Continue reading Who’s replacing Tim Russert?
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Filed under: Industry, Programming, OpEd, Celebrities, Reality-Free
 Jason Bateman is keeping himself busy. Hot off his pilot directing debut with Do Not Interrupt, he has signed a deal with 20th Century Fox for a first-look at the new series. Obviously, he doesn’t hold a grudge from the network’s shoddy treatment of Arrested Development.
The new series will be developed under the banner of Bateman’s company, F+A Productions. Do Not Disturb stars Jerry O’Connell and it was the only live-action comedy pilot Fox picked up as a new series for next season.
“He did an excellent job on the pilot visually, brought great energy and enthusiasm to it and, as an actor, he really comprehends how to talk to and motivate actors,” stated Gary Newman, 20th Television co-chairman. Bateman is also scheduled to lend his voice to the Fox animated series Sit Down, Shut Up which is scheduled to start in the fall.
Jason Bateman has come a long way since Silver Spoons. I’m still eagerly waiting for the new season of It’s Your Move.
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Filed under: Other Drama Shows, Industry, Programming, ER, Reality-Free
 NBC has had it pretty easy for the last fifteen years where Thursday nights at 10, 9 Central, are concerned. ER was locked in, and for the better part of that run was a dominant force. Now that the show is finally coming to an end, they need to begin grooming a replacement. It looks like it could be a case of meet the new boss, same as the old boss.
ER executive producer, John Wells, has set up a new show, LAPD, at the network. It’s an ensemble show that will follow the lives of police officers in Los Angeles and will be written by Ann Biderman. That’s a solid choice as she won an Emmy for her work on NYPD Blue. The network has ordered a pilot and casting has begun. Another ER alum, Christopher Chulack, is on board to direct. Can it replace ER? Probably not totally. Remember, ER had a run as the number one show on television. That kind of success is hard to come by. Still, given the talent involved, it is something to look forward to.
[ via Cynopsis ]
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Filed under: Industry, Programming, Reality-Free
Our Monday morning roundup of a half dozen things TV Squad readers - and Television fans in general - will be speaking about this week.
1. The death of Tim Russert: He was young, he was the face of MSNBC’s political coverage, this is an election year, and NBC needs to find a new host for Meet The Press. Anticipate people to be speaking about this for a while.
2. Burn Notice on DVD: This is the show that seemed to come out of nowhere and instantly loved by many Television viewers is now on DVD. The new season starts on July 10!
3. Retro Squad - The Super Friends: This summer, we’re doing another look back at classic TV shows. This time we’re doing theme weeks, and this week you can read a bunch of posts about The Super Friends.
4. The possible strike: The Screen Actor’s Guild contact ends on June 30. Let’s hope this isn’t a loooooong summer.
5. That Battlestar Galactica finale: What happens now? You’ll have to wait until next year to find out.
6. America’s Got Talent: Another season of the summer hit. Anticipate sword swallowers, dancers, magicians, singers, mimes, and everything in between. (Premieres Tuesday at 9pm on NBC.)
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Filed under: Industry, Reality-Free
 It looks like Oprah is getting in bed with someone else, figuratively talking. Sony Pictures Television will be distributing her new upcoming spin-off speak show hosted by heart surgeon Dr. Mehmet Oz.
This marks a change from her usual relationship with CBS Television Distribution which distributes her own show as well as the spin-offs involving Doctor Phil and Rachael Ray. Dr. Oz is being perceived by many as a competitor to Dr. Phil, whose host’s ethics have recently been in free-fall. CBS is already planning to launch its own spin-off of Doctor Phil called The Physicians.
Continue reading Oprah’s new spin-off to be distributed by Sony
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