Basketball star Carmelo Anthony got his max contract from the New York Knicks, now he’s looking much further ahead.
ESPN is reporting that Anthony announced the creation of M7 Tech Partners, a venture capital firm whose partners are Anthony and the former CEO of Bertelsmann, Stuart Goldfarb, who heads the world’s largest direct marketer of music, video and books.
“M7″ reportedly stands for “‘Melo Seven,” Carmelo’s nickname and jersey number with the New York Knicks. The sports network also notes Anthony is intrigued with wearable and connected devices. A media statement says M7 will be an early-stage seed fund for digital media and consumer technology.
Anthony also tells them he’s been interested in tech devices “for as long as” he can remember and his firm will be on the lookout for ventures focused on leadership that resonates with clients.
Both Anthony and Goldfarb reportedly haven’t decided how much cash they will use to back ventures in the near future, however, news of the company’s creation came with another announcement; their firm is now an an equity partner with Hullabalu, an interactive children’s story company.
The Wall Street Journal says, “M7 will not have any limited partners or other outside investors, and does not plan to take a lead position in any future portfolio companies.” Hullabalu was founded by Suzanne Xie in 2012. Biz Journal reports the company raised a $1.8 million seed round last year.
Anthony agreed to a $124 million deal with the Knicks a little over a week ago.
article by Richard Spiropoulos via blackenterprise.com
Posts published in “Business/Finance”
ALBUQUERQUE (KRQE) – Donovan Smith is 11 years old and has an amazing talent for soap making. He is starting his own business, and he is trying to help people in the process, donating to the same organization that helped him and his mother find a home.
Donuts, ice cream and hamburgers—treats that look so good you could just take a bite out of them. “Someone actually licked one,” said 11-year-old Donovan Smith. That someone quickly regretted it. The treats are actually Donovan’s soap creations.
He makes soap with Aloe Vera and goat’s milk for his bath product business, Toil and Trouble. Donovan chooses the molds, the colors and the fragrances. “Darth Vader smells kind of like cologne. I tried to make it smell what Darth Vader would smell like,” he said.
Once Darth Vader smells just right, he sells him and the rest of the gang at the Rail Yards Market in Albequerque each Sunday. He is the youngest vendor there. He said his Yoda soap is one of the best sellers. It takes about an hour to make twelve of them.
Twenty percent of the sales from his pie-shaped soaps will go to Supportive Housing Coalition of New Mexico, an organization Donovan and his mother, Casey, said helped get them back on their feet three years ago when they struggled with homelessness themselves.
“He was still going to school every day. I was having meltdowns during the day because I could not see this getting any better at all,” Casey said.
Casey is a former Navy cryptologist, still dealing with PTSD and a leg injury as a result of her time in the military. She said she couldn’t find a job during the recession, hearing she was overqualified. Now, with the support of local groups, she has a job, an apartment and a hobby, helping her son with his budding business of soaps.
“They’re fun and the fact that they have the potential to help someone else makes it even better,” Casey said.
To see video of this story, click here.
article by Lysee Mitri via krqe.com
According to usatoday.com, the National Basketball Association has hired longtime marketing executive Pamela El as its chief marketing officer, two years after she was named one of the 100 most influential women in advertising
El will join the league on Aug. 18 and be responsible for brand development and will oversee marketing and advertising for the NBA, WNBA and NBA Development League. El has worked 30 years in marketing, most recently with State Farm Mutual Automobile Insurance Co. and Nationwide Mutual Insurance Co.
“Having personally worked with Pam for many years on the NBA’s partnership with State Farm, she will be a huge addition as we work to build our brand on a global scale,” NBA Chief Operating Officer Mark Tatum said in an e-mailed release.
The NBA had $5.5 billion in revenue last season. The league’s international presence includes games and programming in 215 countries and territories, according to the release.
El was named to Advertising Age’s 100 Most Influential Women in Advertising in 2012 after she helped State Farm through its first logo refresh in nearly 60 years. She has also served on the board for the Women’s Basketball Hall of Fame and the LeBron James Family Foundation.
“I love the competitiveness of the game and admire the league’s world-class teams and passionate global fan base,” El said in the release.
article by Lori Lakin Hutcherson and Lesa Lakin (follow @lakinhutcherson)
WASHINGTON (AP) — The U.S. Patent Office ruled Wednesday that the Washington Redskins nickname is “disparaging of Native Americans” and that the team’s federal trademarks for the name must be canceled.
The 2-1 ruling comes after a campaign to change the name gained momentum over the past year. The team doesn’t immediately lose trademark protection and is allowed to retain it during an appeal, which is likely.
Redskins owner Dan Snyder has refused to change the team’s name, citing tradition, but there has been growing pressure including statements in recent months from President Barack Obama, lawmakers of both parties and civil rights groups.
The decision means that the team can continue to use the Redskins name, but it would lose a significant portion of its ability to protect the financial interests connected to its use. If others printed the name on sweatshirts, apparel, or other team material, it becomes more difficult to go after groups who use it without permission.
The case involves six registered trademarks that involve the use of the word Redskins, but it does not apply to the team’s logo.
Colin Kaepernick and the San Francisco 49ers struck a deal Wednesday on a six-year contract extension, which sources told ESPN NFL Insider Adam Schefter is worth more than $110 million — including a record $61 million guaranteed.
The deal ties Kaepernick to the 49ers through the 2020 season and puts him among the 10 highest-paid quarterbacks in the NFL. His signing bonus will be $12 million, sources told Schefter, unique in that most big contracts for quarterbacks are in the range of $24 million to $40 million. Kaepernick was scheduled to make $1.073 million this season.
When signing the contract, Kaepernick specifically requested that it allow the 49ers the flexibility to negotiate extensions with other players such as wide receiver Michael Crabtree. According to one source, Kaepernick specifically asked, “So this structure gives us room to try extensions with my teammates, right?” He was told yes.
“Colin’s hard work and dedication have played an integral role in the recent success of the 49ers organization,” general manager Trent Baalke said in a statement. “His work ethic, leadership and on-field production have positively influenced our team, and we look forward to his continued growth in all areas.”
Since taking over the starting job from Alex Smith midway through the 2011 season, Kaepernick led the 49ers to their first Super Bowl in 18 years after the 2012 season — losing by three points to Baltimore — and then to the NFC title game again last season, a three-point defeat to the Seattle Seahawks, the eventual Super Bowl champion.
The extension is expected to have strong implications for potential deals for Cam Newton, Andy Dalton and Alex Smith this year, along with those for Andrew Luck, Robert Griffin III and Russell Wilson next year, when they are eligible to sign their first contract extensions.
A second-round draft pick out of Nevada in 2011, Kaepernick has thrived under former NFL quarterback Jim Harbaugh — and the coach has said how much he wants the mobile, strong-armed QB around for the long haul. Accomplishing an extension before the season is a big deal as the team begins its first year in $1.2 billion Levi’s Stadium at team headquarters.
“I really expect a real breakout year for Colin. Athletically, he looks bionic,” Harbaugh said during the organized team activity last week. “If you all remember ‘The Six Million Dollar Man,’ that’s what it looks like to me. He’s very gifted and he always has been. He has the look and feel of a guy who’s really going to break out, even more so than he already has. I’m really excited about everything about his game right now.”
More From ESPN Stats & Info
Colin Kaepernick’s extension through the 2020 season reportedly includes $61 million in guaranteed money, the most in any current NFL contract. Other Kaepernick observations:
- Since his first start in Week 11 of 2012, he’s the third-highest-rated QB in the NFL with a Total QBR of 69.6 on the 0-100 scale, behind only Peyton Manning (83.3) and Aaron Rodgers (71.3).
- According to Elias Sports Bureau, he is the sixth-youngest QB in NFL history to start multiple conference championship games. He’s started the last two, beating Atlanta in 2012 and losing to Seattle last season.
- Including the playoffs, his record against the rival Seahawks is 1-3 with 3 TDs and 7 picks, and 20-5 with 35 TDs and 9 INTs vs. all other opponents.
- Since his first start, he is tied for 4th in the league with 17 wins and ranks in the top 7 in both yards per pass attempt and yards per rush.
- He completed 60.5 percent of his passes in the pocket last season, a steep regression from his first year as a starter in 2012 (65.7 percent).
In a sensational playoff debut in January 2013 against Green Bay, Kaepernick used his speed to run for a quarterback-playoff-record 181 yards and two touchdowns. Then, in a season-opening win against the Packers last September, he threw for a career-best 412 yards and three scores.
Every year Forbes Magazine publishes a guide to the most powerful women in the world. The list consists of 100 women from a wide array of fields, and this year 10 Black women are counted among them. It is, of course, reasonable to ask how the magazine measures power. The answer is rather unclear, but it seems to be a mix of financial stature and social influence. Take a look at the full list here. Here are the women who made the list:#8 Michelle Obama
She may not carry the hard power of her husband but there’s arguably no one who makes better use of the world stage. The Harvard grad and former corporate attorney (she was Barack Obama’s boss) actively uses her platform as first lady to fight childhood obesity and promote healthier eating and lifestyles. With approval ratings at 66%, she’s more popular than her husband by far (44%) — likely because she spends more time laughing on TV than running the country. In 2013, Obama announced the Academy Award for Best Picture, mock “mom dancing” with Jimmy Fallon (18 million views on YouTube) and launched an initiative aimed at increasing the number of low-income students who go to college. This year she’s been extremely visible globally, taking a trip to China in March, where she met with her Chinese counterpart and fellow Power Woman Peng Liyuan.
#14 Oprah Winfrey
Though she turned 60 in January, Winfrey is still going at a furious pace. She’s been a red carpet staple this past year thanks to a host of nominations for her role in acclaimed historical drama “Lee Daniels’ The Butler.” She also appears to have reversed the fortunes of her once-struggling network OWN, which finally became cash-flow positive in 2013. The first quarter of 2014 was the networks most-watched to date, with double-digit growth across all demographics and bragging rights as the fastest growing cable network among women between the ages of 25 and 54. OWN’s success looks set to continue this year, with a much-anticipated reality show about troubled starlet Lindsay Lohan making headlines and producer Tyler Perry set to helm a talk show on the channel. Winfrey was FORBES’ highest-earning celebrity of 2013 (her haul: $77 million); the majority of her net worth still stems from 25 years of her profitable daytime TV show, plus earnings from her Harpo production company, which has a hand in the Dr. Phil, Rachael Ray and Dr. Oz shows. She continues to support educational causes and has spent more than $100 million on the Oprah Winfrey Leadership Academy for Girls in South Africa.
#17 Beyoncé Knowles
Beyonce is a woman who’s had no shortage of big years, but 2013 was one for the record books. The 32-year-old superstar capped off a banner year that included singing for the president, performing at the Super Bowl, and headlining the most profitable tour of the year by shocking the world with a surprise “visual album” in December. The album is iTunes’ fastest-selling album ever, moving 828,773 units in the first three days. She wrapped up the “Mrs. Carter” world tour in the spring, and will hit the road again this summer — this time joined by Mr. Carter, husband Jay Z. The duo topped Forbes list of the highest-earning celebrity couples last year, with Beyonce out-earning the hip-hop mogul by $11 million. The singer is also embracing her role as an icon of women’s empowerment, declaring that “gender equality is a myth” in an essay for The Shriver Report, throwing her weight behind Sheryl Sandberg’s campaign to “Ban Bossy,” and sampling author Chimamanda Ngozi Adichie’s TED talk, “We should all be feminists,” on her new album.
#22 Ursula Burns Chair-CEO, Xerox
The world is headed into a paperless future. And yet in her five years as CEO, Ursula Burns has managed to make Xerox–once only known for its carbon copies–a viable and profitable company. This past year, Burns helped Xerox generate adjusted earnings per share of $1.09, up from $1.02 in 2012, and post $21.4 billion in full-year revenue. She recently told shareholders that she would continue to sharpen the company’s technology-driven, services-led portfolio. Services represents 57% of the company’s total revenue and is expected to grow to two-thirds by 2017. Burns is a Xerox lifer, beginning her career in 1980 as a summer intern.
#40 Joyce Banda President, Malawi
Malawi’s first female president (and second on the African continent) narrowly won a second term this May after originally assuming office in 2012. However, she ordered that the results of the May elections be nullified and the elections be held in 90 days due to electoral irregularities; spectators say it is a desperate attempt to stay in power. Her time so far has been marred by financial scandals, arrests and prosecutions in her own government. But Banda’s most brazen decisions have been for austerity’s sake. She sold off a $15 million presidential jet, cut her own salary by 30 percent and dismissed her cabinet in the midst of corruption allegations. Her bookkeeping measures have helped lift monetary suspensions from Western donors to Malawi and restore cash injections from the IMF.
#44 Ngozi Okonjo-Iweala Minister of Finance, Nigeria
Nigerian economist Okonjo-Iweala didn’t let her failed 2012 bid to become president of the World Bank slow her down. In 2011, she received her second appointment as finance minister of Nigeria. Since then, the country’s GDP has displayed robust growth — 6.87% growth between 2012 and 2013 — especially given the relatively sluggish global recovery. Okonjo-Iweala was key to developing the reform programs that helped stabilize Nigeria’s economy and improve governmental transparency. She has now turned her attention to Nigeria’s 14% unemployment rate. The Harvard- and M.I.T.-trained Okonjo-Iweala spent 21 years as a development economist at the World Bank.
#45 Ertharin Cousin Executive Director, World Food Programme, United Nations
Cousin has fed 177 million people since taking the helm of world’s largest hunger-fighting organization two years ago. Under Cousin’s leadership WFP increased donations from individuals by 17% last year bringing in $4.3 billion in contributions from 30,000 donors. The funding growth will allow Cousins’ 13,500 strong staff to work in 83 countries this year while focusing on fighting hunger brought on by drought and civil war is Syria, as well as by violent conflicts in South Sudan and the Central African Republic. WFP has airdropped food to support 335,000 people in South Sudan who would otherwise be unreachable because of flooding and security concerns. In 2014 she will launch FoodSECuRE, a program to tackle climate-change-related food insecurity. Looking ahead, Cousin is also focused on transitioning parts of the organization from food aid to food assistance in an attempt to shift from handouts to self-sustenance.
#70 Ellen Johnson-Sirleaf President, Liberia
Liberia recently marked ten years of peace and eight years of leadership by Africa’s first female head of state. Johnson-Sirleaf, a Nobel laureate and former World Bank officer, has become an icon since her days fighting against dictators and corruption in Liberia. Today she is ramping up efforts to bring foreign investment to her impoverished nation ($700 GDP per capita and an estimated 64% of its population live below poverty line). The president says her No. 1 priority is infrastructure but is dogged by accusations of corruption, nepotism and failing the nation’s poor.
#78 Helene Gayle President-CEO, CARE
When Typhoon Haiyan struck the Philippines in November 2013 CARE was on the ground within days providing food, shelter and supplies. Within three months the anti-poverty organization had raised $20 million toward assisting the storm ravaged nation and within six months had helped 300,000 people. Under Gayle’s leadership CARE total program activities budget is $529 million (from 2012) and will complete over 900 projects in 87 countries this year.
#96 Folorunsho Alakija
Folorunsho Alakija’s winding path to becoming one of the richest woman in Africa began in London, where she pursued secretarial studies and fashion design as a young woman. After returning to Nigeria to work as an executive secretary, she founded her own tailoring company, Supreme Stitches. With clients such as former first lady Maryam Babandiga, her company quickly rose to prominence among Nigeria’s high society. Her closeness with Babandiga proved even more valuable when the Ministry of Energy approved her oil prospecting license in 1993, granting her a lucrative block in Nigeria’s coastal waters. Famfa Oil, which she controls, now holds a 60% stake in the oil field. It pumps about 200,000 barrels a day. In 2008, she founded The Rose of Sharon Foundation, which works to help widows and orphans. And in 2013, she was appointed the vice chair of Nigeria’s National Heritage Council and Endowment for the Arts.
She may not carry the hard power of her husband but there’s arguably no one who makes better use of the world stage. The Harvard grad and former corporate attorney (she was Barack Obama’s boss) actively uses her platform as first lady to fight childhood obesity and promote healthier eating and lifestyles. With approval ratings at 66%, she’s more popular than her husband by far (44%) — likely because she spends more time laughing on TV than running the country. In 2013, Obama announced the Academy Award for Best Picture, mock “mom dancing” with Jimmy Fallon (18 million views on YouTube) and launched an initiative aimed at increasing the number of low-income students who go to college. This year she’s been extremely visible globally, taking a trip to China in March, where she met with her Chinese counterpart and fellow Power Woman Peng Liyuan.
#14 Oprah WinfreyThough she turned 60 in January, Winfrey is still going at a furious pace. She’s been a red carpet staple this past year thanks to a host of nominations for her role in acclaimed historical drama “Lee Daniels’ The Butler.” She also appears to have reversed the fortunes of her once-struggling network OWN, which finally became cash-flow positive in 2013. The first quarter of 2014 was the networks most-watched to date, with double-digit growth across all demographics and bragging rights as the fastest growing cable network among women between the ages of 25 and 54. OWN’s success looks set to continue this year, with a much-anticipated reality show about troubled starlet Lindsay Lohan making headlines and producer Tyler Perry set to helm a talk show on the channel. Winfrey was FORBES’ highest-earning celebrity of 2013 (her haul: $77 million); the majority of her net worth still stems from 25 years of her profitable daytime TV show, plus earnings from her Harpo production company, which has a hand in the Dr. Phil, Rachael Ray and Dr. Oz shows. She continues to support educational causes and has spent more than $100 million on the Oprah Winfrey Leadership Academy for Girls in South Africa.
#17 Beyoncé KnowlesBeyonce is a woman who’s had no shortage of big years, but 2013 was one for the record books. The 32-year-old superstar capped off a banner year that included singing for the president, performing at the Super Bowl, and headlining the most profitable tour of the year by shocking the world with a surprise “visual album” in December. The album is iTunes’ fastest-selling album ever, moving 828,773 units in the first three days. She wrapped up the “Mrs. Carter” world tour in the spring, and will hit the road again this summer — this time joined by Mr. Carter, husband Jay Z. The duo topped Forbes list of the highest-earning celebrity couples last year, with Beyonce out-earning the hip-hop mogul by $11 million. The singer is also embracing her role as an icon of women’s empowerment, declaring that “gender equality is a myth” in an essay for The Shriver Report, throwing her weight behind Sheryl Sandberg’s campaign to “Ban Bossy,” and sampling author Chimamanda Ngozi Adichie’s TED talk, “We should all be feminists,” on her new album.
#22 Ursula Burns Chair-CEO, XeroxThe world is headed into a paperless future. And yet in her five years as CEO, Ursula Burns has managed to make Xerox–once only known for its carbon copies–a viable and profitable company. This past year, Burns helped Xerox generate adjusted earnings per share of $1.09, up from $1.02 in 2012, and post $21.4 billion in full-year revenue. She recently told shareholders that she would continue to sharpen the company’s technology-driven, services-led portfolio. Services represents 57% of the company’s total revenue and is expected to grow to two-thirds by 2017. Burns is a Xerox lifer, beginning her career in 1980 as a summer intern.
#40 Joyce Banda President, MalawiMalawi’s first female president (and second on the African continent) narrowly won a second term this May after originally assuming office in 2012. However, she ordered that the results of the May elections be nullified and the elections be held in 90 days due to electoral irregularities; spectators say it is a desperate attempt to stay in power. Her time so far has been marred by financial scandals, arrests and prosecutions in her own government. But Banda’s most brazen decisions have been for austerity’s sake. She sold off a $15 million presidential jet, cut her own salary by 30 percent and dismissed her cabinet in the midst of corruption allegations. Her bookkeeping measures have helped lift monetary suspensions from Western donors to Malawi and restore cash injections from the IMF.
#44 Ngozi Okonjo-Iweala Minister of Finance, NigeriaNigerian economist Okonjo-Iweala didn’t let her failed 2012 bid to become president of the World Bank slow her down. In 2011, she received her second appointment as finance minister of Nigeria. Since then, the country’s GDP has displayed robust growth — 6.87% growth between 2012 and 2013 — especially given the relatively sluggish global recovery. Okonjo-Iweala was key to developing the reform programs that helped stabilize Nigeria’s economy and improve governmental transparency. She has now turned her attention to Nigeria’s 14% unemployment rate. The Harvard- and M.I.T.-trained Okonjo-Iweala spent 21 years as a development economist at the World Bank.
#45 Ertharin Cousin Executive Director, World Food Programme, United NationsCousin has fed 177 million people since taking the helm of world’s largest hunger-fighting organization two years ago. Under Cousin’s leadership WFP increased donations from individuals by 17% last year bringing in $4.3 billion in contributions from 30,000 donors. The funding growth will allow Cousins’ 13,500 strong staff to work in 83 countries this year while focusing on fighting hunger brought on by drought and civil war is Syria, as well as by violent conflicts in South Sudan and the Central African Republic. WFP has airdropped food to support 335,000 people in South Sudan who would otherwise be unreachable because of flooding and security concerns. In 2014 she will launch FoodSECuRE, a program to tackle climate-change-related food insecurity. Looking ahead, Cousin is also focused on transitioning parts of the organization from food aid to food assistance in an attempt to shift from handouts to self-sustenance.
#70 Ellen Johnson-Sirleaf President, LiberiaLiberia recently marked ten years of peace and eight years of leadership by Africa’s first female head of state. Johnson-Sirleaf, a Nobel laureate and former World Bank officer, has become an icon since her days fighting against dictators and corruption in Liberia. Today she is ramping up efforts to bring foreign investment to her impoverished nation ($700 GDP per capita and an estimated 64% of its population live below poverty line). The president says her No. 1 priority is infrastructure but is dogged by accusations of corruption, nepotism and failing the nation’s poor.
#78 Helene Gayle President-CEO, CAREWhen Typhoon Haiyan struck the Philippines in November 2013 CARE was on the ground within days providing food, shelter and supplies. Within three months the anti-poverty organization had raised $20 million toward assisting the storm ravaged nation and within six months had helped 300,000 people. Under Gayle’s leadership CARE total program activities budget is $529 million (from 2012) and will complete over 900 projects in 87 countries this year.
#96 Folorunsho AlakijaFolorunsho Alakija’s winding path to becoming one of the richest woman in Africa began in London, where she pursued secretarial studies and fashion design as a young woman. After returning to Nigeria to work as an executive secretary, she founded her own tailoring company, Supreme Stitches. With clients such as former first lady Maryam Babandiga, her company quickly rose to prominence among Nigeria’s high society. Her closeness with Babandiga proved even more valuable when the Ministry of Energy approved her oil prospecting license in 1993, granting her a lucrative block in Nigeria’s coastal waters. Famfa Oil, which she controls, now holds a 60% stake in the oil field. It pumps about 200,000 barrels a day. In 2008, she founded The Rose of Sharon Foundation, which works to help widows and orphans. And in 2013, she was appointed the vice chair of Nigeria’s National Heritage Council and Endowment for the Arts.
article via forharriet.com
Rap is coming to Cupertino in a big way.
After weeks of rumor, Apple finally announced it has acquired headphone maker Beats Electronic for $3 billion, including $2.6 billion cash up front and approximately $400 million in stock that will vest over time. As part of the deal, Beats co-founders Dr. Dre and Jimmy Iovine will join Apple (AAPL -0.26%) in undisclosed roles.
“Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” CEO Tim Cook said in a statement. “That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”
RELATED: Dr. Dre, Jimmy Iovine Donate $70M for New Arts and Technology Center at USC
This acquisition is Apple’s biggest ever, and largest since it brought back Steve Jobs in 1997 though a $400 million purchase of NeXT. However, the $3 billion price is still just a tiny fraction of the company’s $150 billion cash reserves, and Beats’ estimated annual sales of $2 billion represents barely over 1% of Apple’s $171 billion revenue last year.
According to Variety.com, “Scandal” and “Grey’s Anatomy” creator Shonda Rhimes has set a long-term extension of her overall deal with ABC Studios through May 2018.
Rhimes’ deal extension has been a long time in the works, given the amount of business she has in play at ABC and her status as an uber-showrunner. “Grey’s Anatomy”, Rhimes’ initial breakout hit, remains a Thursday workhorse for the network as it heads into its 11th season. “Grey’s” spinoff “Private Practice”, although not as highly-rated, lasted seven seasons in the ABC lineup. “Scandal” blossomed into a bona fide hit for ABC this past season, and will kick off its fourth season this fall.
Next up for ABC under the Shondaland banner is the Viola Davis-starrer “How to Get Away with Murder.” The series was was created by “Grey’s Anatomy” vet Peter Nowalk and is executive produced by Rhimes and her longtime producing partner Betsy Beers.
article by Lori Lakin Hutcherson (follow @lakinhutcherson)
Rhimes’ deal extension has been a long time in the works, given the amount of business she has in play at ABC and her status as an uber-showrunner. “Grey’s Anatomy”, Rhimes’ initial breakout hit, remains a Thursday workhorse for the network as it heads into its 11th season. “Grey’s” spinoff “Private Practice”, although not as highly-rated, lasted seven seasons in the ABC lineup. “Scandal” blossomed into a bona fide hit for ABC this past season, and will kick off its fourth season this fall.
Next up for ABC under the Shondaland banner is the Viola Davis-starrer “How to Get Away with Murder.” The series was was created by “Grey’s Anatomy” vet Peter Nowalk and is executive produced by Rhimes and her longtime producing partner Betsy Beers.
article by Lori Lakin Hutcherson (follow @lakinhutcherson)
Fox Searchlight had another solid debut this weekend with its initial limited opening of Belle in four New York and L.A. theaters. British-set period drama Belle,directed by Amma Asante and staring Gugu Mbatha-Raw, managed a regal bow, grossing over $104K, giving the film a $26,123 theater average. Searchlight said the feature outgrossed “Spider-Man 2” at the Landmark Theatres in West LA and was the second-highest grosser at the Arclight Theatre in Hollywood. In New York, it also had strong numbers at Lincoln Plaza and Sunshine theaters.
“We’re pretty happy with how it opened. It’s an interesting thing with a film that’s very sophisticated like this and you’re hoping to get the cinephile crowd out,” Searchlight’s EVP of Distribution Frank Rodriguez told me Sunday morning. “The secret of this film is to keep it in theaters and see if it can get some traction. We know we have a great art film and we know we’re going to do well with it. The real goal here is to see if it can go a little mainstream. To do that with Spider-Man and the like will be interesting. Perhaps it’s a bit of counter-programming, but if we had had a $15 – 25K [PTA this weekend] I would have been happy, so we’re at the high end of that. In this business anything can happen, but we’re going into the right theaters and targeting a sophisticated audience.”
Fox Searchlight will open Belle in ten more cities next weekend including Washington, D.C., Atlanta, Toronto, San Francisco and Boston as it lures the film’s natural art-house crowd while also tempting some cross-over. The company expects Belle to be in about 350 theaters by Memorial Day weekend and it will head into about 50 – 60 runs next weekend.
article by Brian Brooks via deadline.com