Dear Edwina,
This just in: mOcean Digital's department closed its doors last Friday (i.e. let the last 3-5 people go). You know, mOcean, formerly CMP, who bought out Deadline Advertising about 5+ years ago.
Aside from an occasional twinge of schadenfreude, these reports are never good news as they are all too often the results of shrinking profit margins.
Dear Edwina,
I noticed "Last to know" posted the question "What happened to Mojo?" on your blog last week. Has anyone replied?
No. And it's a question we have been asked on more than one occassion, which we suppose qualifies it for Ye Olde Rumor Mill. We did pick up some chatter about the print group reforming under another name.
Less than 48 hours after Los Angeles witnesses a rare annular solar eclipse, the CCO of Eclipse Advertising announces his resignation on Facebook.
Actual photo
Chatter is rife with speculation that a certain Wilshire agency is boarding the bus to Splitsville. Not Kaputsville, as in “We’re going under!” but more like divorce a vinculo matrimonii, as in “I’m leaving and I'm taking the dog and the 52-inch flat-screen TV with me!” It sounds like we won’t be losing an agency, but rather gaining a new offshoot.
We heard a wild, unsubstantiated rumor that a certain studio is shaking up the bros and sistahs in their theatrical marketing department. (Okay, that’s just a straightforward rumor. The wild and unsubstantiated part is that they’re bringing in a truckload of illegal marketing execs from Guatemala to replace them.)
We first heard of Intralink closing its doors on April Fools' Day, so naturally we doubted the veracity of the report. We have since had the story upgraded to Reliable Rumor status.
Please check our recently updated Edwina's Vendor Map for a respectful viewing of the recently installed tombstone.
In memorial, we are re-posting Intralink's mission statement, first seen here on MonKeyArtAwards on March 22, 2008:
If you’re like us, you’ve always been a keen admirer of the sheer pomposity of this week’s Mystery Agency. So it hardly came as a surprise when we clicked on “ABOUT US” on their site and found they had gone like totally globular in their strategic thinking:
(Our) signature is a blend of established experience and cutting edge creative – (our signature blend is also available in decaf) offering a wide range of work in every film genre. (comedy: white background; drama: dark background) We provide our clients with strategic thinking and a unique knowledge of global needs that create a clear advantage for campaigns as they travel from their theatrical debut into subsequent windows of release.(right down to their final resting place in the $7.99 DVD bin on aisle three at Rite-Aid.)
If you're like us, you noticed a tantalizing string of comments that popped up under last week's Jerry Weintraub/HBO ad post:
Off topic: super secret meeting was held at "our place" on fiday afternoon. All bigwigs were there. Something is up.
Posted by: X | Saturday, April 09, 2011 at 10:36 PM
Super secret meeting? Something big is up? Whatever could it be?????
Studio collusion on pricing? Major layoffs? Agency mergers and closings?
That would truly be AWFUL! Had it not already happened. Trying to figure out what could happen that would be worse than what's come before.
Posted by: Anita Cocktail | Sunday, April 10, 2011 at 09:38 PM
Is this wig too big for my tiny head?
Posted by: Jerry Weintraub | Monday, April 11, 2011 at 09:29 AM
Hey, what ever happened to http://www.aema.net/ (rhymes with enema)?
Posted by: Fee Fy Mo Mirley | Monday, April 11, 2011 at 11:07 AM
One of our readers sent us a link to Nikki Finke’s post regarding corporate rapist Carl Ichan’s blown fuse over the runaway spending at Lionsgate. Icahn is attempting a hostile takeover of the studio. His tender offer expires today, but a second offer commences Thursday and runs for two weeks.
But, honestly, who cares about all that bidness stuff - if you’re like us, the most interesting thing in all this is the comment made by “Sarah” (see below).
In addition, the anecdotal evidence regarding the
overspending in Lions Gate's corporate suite is the stuff of legend. A cursory
review of recent press reports yields many references to
management's lavish
new offices, their huge salaries and more than a few mentions of the Bentley
driven by CEO, Jon Feltheimer. Sadly, however, one is hard pressed to find the
stories detailing how manage- ment is committed to increasing earnings per share
by attempting to boost revenues and cut costs. Reported "general and
admin- istrative" expenses (which includes salary and overhead) increased
from under $70 million for the fiscal year ended March 31, 2006 to over $180 in
2010. As a shareholder, I'm forced to ask how much longer this board of
directors will allow the party in the management suite to continue. How long
can management continue to claim "record performance" while cash flow
remains anemic and the stock price remains in decline? Since the board is
clearly unwilling to tell the Emperor he wears no clothes, it is left up to the
shareholders to take action. We therefore intend to conduct a proxy
solicitation to seek to replace the board with our nominees at the upcoming
annual general meeting of shareholders. We are hopeful that a newly elected
board will act expeditiously to replace management and hold the new team
accountable for performance moving forward.
Sincerely yours,
CARL C. ICAHN
Comments:
It’s amazing that a co-head of marketing can get away with wedding expenses covered by a studio and vendors in this day and age. I’m not going to name names, but I bet Mr. Ichan knows. Oh wait, the freebie line shouldn’t end at a wedding, that’s just the most recent.
Comment by Sarah — Friday June 11, 2010 @ 9:55pm PDT
Lots of chatter going on in our comments section regarding all those secret meetings
in the Temple of Doom to set salary caps for freelancers.
We are not surprised, seeing as how the AEMA clearly states their mission:
"To collect and make available industry statistics, economic data and other similar information."
Even if all the rumors are true, we don’t see anything sinister afoot. This is about creative shops trying to stay afloat as the studios continue to cut budgets while still demanding the usual absurd volume of work.
Ask yourself: if you were one of those REAL big shots who run the corporations that run the studios, how much would you think some bleary-eyed drone cranking out movie posters was worth?
So... three quarters of the remaining print staff at Ant Farm (3 out of 4 people) just decamped to Eclipse, a breakdown house. Face saving lifeboat move, ahead of the axe? Or shrewd business decision? Discuss...
Today, Oren Aviv announced that he is resigning his post of president, Walt Disney Studios Motion Picture Production.
Avis said, “As of today, I'm stepping down from my position as president of Production, Walt Disney Studios. I have loved every day that I have been at the studio and feel incredibly privileged to have been part of a team that enriched my life for 20 years.
I will miss all the amazing filmmakers, the many talented actors and most importantly the lifelong friends I've been so lucky to work with throughout my Disney career.
I'm proud of the hundreds of movies I've helped to make and market, especially the studio's upcoming films, from Alice in Wonderland and Prince of Persia to The Sorcerer's Apprentice and Tron. All have been extremely rewarding creative and personal endeavors for me, and have allowed me to work with the best group of executives and staff in the business.
I wish Disney, Bob Iger, Rich Ross and their new teams great success for many years to come.“
Rich Ross, chairman, The Walt Disney Studios stated, “Oren’s significant contributions to The Walt Disney Studios are well-documented and countless movie-goers have been entertained by his diverse portfolio of films,” said The Walt Disney Studios Chairman, Rich Ross. “We appreciate his work and wish him all the best in his future endeavors.”
A successor will be named at an appropriate time.
Was "Smitty" there? Then you know it was important!
Posted by: Who's Who | Monday, April 11, 2011 at 09:26 AM