Read the full article at StockTradingToGo.com
Read the full article at StockTradingToGo.com
Read the full article at StockTradingToGo.com
The Federal Reserve is on the weather caused the slowdown bandwagon per their statement today: "growth in economic activity has picked up recently, after having slowed sharply during the winter in part because of adverse weather conditions." The indexes remain the same; the S&P 500 is holding in very well and trying to build a range while the NASDAQ is struggling to create a new higher high. Here are longer term charts: After hours Yelp (YELP) reported; this stock has been decimated the past few months, losing nearly 50%. The report was solid and the stock is up 5% in after hours. Like many young companies, the revenue growth was strong but losses continue.
Gross domestic product expanded at a 0.1 percent annual rate, the slowest since the fourth quarter of 2012, the Commerce Department said. The slowdown, which also reflected the slowest inventory accumulation in nearly a year, was much sharper than Wall Street had braced for. Economists expected a 1.2 percent growth pace. Exports fell at a 7.6 percent rate, the largest quarterly decline in five years, after growing at a 9.5 percent pace in the final three months of 2013. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased at a 3.0 percent rate, reflecting a spurt in spending on services linked to demand for heating and the Affordable Healthcare Act, which expanded healthcare coverage to many Americans.
Yelp reported a first-quarter loss of $2.6 million, or 4 cents a share, on sales of $76.4 million. During the same period a year ago, the online review and recommendation company lost $4.8 million, or 8 cents a share, on revenue of $46.1 million. Analysts surveyed by FactSet had forecast Yelp to lose 6 cents a share on $75 million in sales.
< p> Weibo (WB) which is the Chinese Twitter, and just came IPO in the past few weeks had its first nice session as a public company. Obviously it is too young to use much technical analysis on. Under Armour (UA) is yet another example of a growth stock that has been punished the past 6 weeks; today it was upgraded so spiked, but these charts are ugly. We highlighted Altria (MO) a few weeks ago, and here is Lorillard (LO) as well - these are both cigarette stocks; exactly the type of safety stocks that continue to see inflows. Original post: STTG Market Recap April 30, 2014
McG‘s Wonderland Sound and Vision, a producer of music content, has entered into a multi-year partnership with private equity-backed LD Entertainment. The newly formed alliance will provide McG with the financial backing for Wonderland to independently develop, produce and finance its own slate of feature film, television and digital projects.
McG’s Wonderland Sound and Vision, a multifaceted media entity and consistent producer of hit content, has entered into a multi-year partnership with private equity backed LD Entertainment. Jointly announced today by McG and Mickey Liddell, CEO of LD Entertainment, the newly formed alliance will provide McG with the financial backing for Wonderland to independently develop, produce and finance its own slate of feature film, television and digital projects. McG has built his brand as a multi-hyphenate and pop culture curator by accumulating $1.1 billion in box office receipts, producing over 500 hours of prime-time network television, and writing three #1 songs.
“Wonderland is built for the most talented directors, writers, and actors to come over and get their films and television shows made. Our focus is to support the artist and get the material into production. This new relationship now puts Wonderland in a position to go straight into production on our projects. We are now a buyer and, in turn, plan to deliver product to the marketplace quickly and efficiently via traditional and emerging distribution platforms,” McG said.
“McG is one of the most creative and innovative talents in the entertainment industry,” said Liddell. “LD is thrilled to embark into a partnership with the incredible team at Wonderland. We look forward to collaborating on many diverse and interesting projects in film, television and new media.”
Gina Girolamo will spearhead Wonderland’s television division. Girolamo previously served as Alloy Entertainment’s Senior Vice President of Television, where she successfully executive produced eight projects to pilot and series including THE LYING GAME, THE NINE LIVES OF CHLOE KING (ABC Family), THE SECRET CIRCLE (The CW), HOW TO ROCK (Nickelodeon), 666 PARK AVENUE (ABC) and, most recently, THE 100 (The CW), THE ORIGINALS (The CW) and RAVENSWOOD (ABC Family). Prior to Alloy, Girolamo was Vice President, Comedy Programming at Universal Media Studios and Vice President, Comedy Development at NBC.
Mary Viola, who has been with Wonderland for four years, will continue to build and oversee Wonderland’s feature film slate, including the following films currently in post-production: A MANY SPLINTERED THING starring Chris Evans and Michelle Monaghan for Voltage Pictures, and MERCY, a horror film based on a Stephen King short story, with Blumhouse for Universal. She is overseeing THE DUFF for CBS FILMS, TINK for Disney and THE GIRL WHO CONNED THE IVY LEAGUE with Amanda Seyfried. Viola also produced Wonderland’s online series AIM HIGH for Warner Bros. digital distribution.
“Gina and Mary both possess a deep understanding of pop culture, powerful storytelling and an ability to identify new talent. These qualities, combined with Wonderland’s capacity to fund our own content, will allow us to immediately create the films and television shows we are passionate about,” McG said.
Wonderland previously had a very successful twelve year relationship with Peter Roth and his Warner Bros. television division.
McG is currently in post-production on his most recent directorial effort, 3 DAYS TO KILL, starring Kevin Costner. Produced by Europacorp and Relativity, the film is scheduled for a February 14, 2014 release. McG’s feature film directorial debut was the 2000 blockbuster CHARLIE’S ANGELS. The film debuted at number one domestically and became the biggest opening for a first-time director. Other feature films directed by McG include CHARLIE’S ANGELS: FULL THROTTLE (Sony), WE ARE MARSHALL (WB), TERMINATOR SALVATION (WB), and THIS MEANS WAR (FOX).
McG is repped by WME, Management 360 and the law firm of Sloane, Offer, Weber & Dern.
ABOUT WONDERLAND SOUND AND VISION
Wonderland Sound and Vision independently develops, produces and finances its own slate of feature films, television and digital projects. Wonderland is led by McG who has built his brand as a multi-hyphenate and pop culture curator by accumulating 1.1 billion in box office receipts, producing over 500 hours of prime-time network television, and writing three #1 songs. Wonderland is currently in post production on the following films: 3 DAYS TO KILL, directed by McG and starring Kevin Costner for Europacorp and Relativity, A MANY SPLINTERED THING starring Chris Evans and Michelle Monaghan for Voltage Pictures, and MERCY, a horror film based on a Stephen King short story with Blumhouse for Universal. Wonderland’s feature development slate includes: RUIN at Fox with Wes Ball attached to direct, TINK with Elizabeth Banks attached to star at Disney, MAGIC CASTLE at Fox and THE GIRL WHO CONNED THE IVY LEAGUE starring Amanda Seyfried. In the television space Wonderland’s current shows on the air include SUPERNATURAL, entering its ninth season on the CW, and NIKITA,entering its fourth season, also on the CW. Prior network shows include ground-breaking series THE OC, CHUCK, HUMAN TARGET and FASTLANE. In the digital space, Wonderland has produced GHOSTFACERS, SORORITY FOREVER and the highly successful series AIM HIGH (2 seasons) for Warner Bros. The company has multiple projects in the pipeline with Warner Bros. digital distribution department.
ABOUT LD ENTERTAINMENT
LD Entertainment released KILLER JOE, directed by William Friedkin, written by Tracy Letts, and starring Matthew McConaughey. Most recently, LD produced, financed and distributed DISCONNECT, which was directed by Henry-Alex Rubin, and starred Jason Bateman and Alexander Skarsgård.
In addition, LD Entertainment acquired ALBERT NOBBS, starring Glenn Close and BIUTIFUL, starring Javier Bardem, which were both distributed by Roadside Attractions. THE GREY, produced by LD and starring Liam Neeson, was distributed by Open Road Films. Collectively, LD’s films have received a total of five Academy Award nominations.
Upcoming films include THERESE, starring Elizabeth Olsen, Tom Felton, Oscar Isaac, and Jessica Lange, based on the novel Thérèse Raquin by Émile Zola and WHERE THE DEVIL HIDES, starring Rufus Sewell and Jennifer Carpenter.
Wonderland Sound & Vision
The post McG’s Wonderland Sound and Vision Partners With LD Entertainment appeared first on peHUB.
KSL Capital Partners has taken a 24% stake in Canadian ski resort owner Whistler Blackcomb Holdings Inc., buying the stake from Intrawest. As a result of the sale, Bill Jensen steps down from his post of director and chief executive, and Wes Edens and Jonathan Ashley each stepped down from the board. The deal is expected to close Wednesday.
Whistler Blackcomb Holdings Inc. (TSX: WB) (the “Corporation”) and KSL Capital Partners, LLC (“KSL”) are pleased to announce that an affiliate of KSL has entered into a purchase agreement with Intrawest ULC (“Intrawest”) to acquire Intrawest’s 9,092,500 common shares of the Corporation, representing approximately 24% of the Corporation’s issued and outstanding common shares, for $12.75 per common share. The Corporation understands that the Intrawest disposition is being made in conjunction with an Intrawest refinancing. The transaction is expected to be completed tomorrow. KSL is a U.S. private equity firm dedicated to investments in travel and leisure businesses.
As a result of the sale by Intrawest, Bill Jensen has tendered his resignation as a director and Chief Executive Officer and each of Wes Edens and Jonathan Ashley has tendered his resignation as a director of the Corporation, effective as of the time of closing. Also effective as of the time of closing, the Corporation’s board of directors has appointed Dave Brownlie, the Corporation’s current President and Chief Operating Officer, as the Corporation’s President and Chief Executive Officer and a director, and appointed Eric Resnick and Peter McDermott, both of KSL, as directors to fill the vacancies created by these resignations. Mr. Resnick is co-founder and Managing Director of KSL and has deep, long-standing ties to the ski industry. Mr. McDermott is a partner at KSL.
Concurrently with these appointments, the Corporation’s board of directors has appointed Flora Ferraro, the Corporation’s current Vice President of Finance, as Interim Chief Financial Officer. The Corporation intends to announce the appointment of a permanent chief financial officer shortly.
“KSL is delighted to be acquiring a 24% interest in a world-class ski area. Whistler Blackcomb is the largest and most visited ski resort in North America and we feel that it complements our portfolio of premier travel and leisure properties. Peter and I are looking forward to working with the board to grow the business. Whistler Blackcomb has a very experienced and successful management team and we are enthusiastic to work with them as they continue to deliver a fantastic mountain experience for Whistler Blackcomb’s guests” commented Mr. Resnick.
“On behalf of the board of directors, I am very pleased to welcome Eric Resnick and Peter McDermott to the board. We would also like to express our appreciation to Wes Edens and Jonathan Ashley for their contributions to Whistler Blackcomb during their tenure on the board, and especially to Bill Jensen, for his valued service as Chief Executive Officer and as a director” commented Graham Savage, Chairman of the Corporation’s board of directors. “We are also pleased to appoint Dave Brownlie as Chief Executive Officer and as a member of the board of directors. With over 24 years in ski resort management, Dave brings insight and experience to the position and I am looking forward to continuing to work with him to grow the business.”
ABOUT THE TRANSACTION
KSL expects to hold the purchased shares for investment purposes. However, KSL and its affiliates expect to evaluate on an ongoing basis the Corporation’s financial condition and prospects and its interest in, and intentions with respect to, the Corporation and KSL’s investment. KSL and its affiliates may from time to time acquire additional common shares of the Corporation or may dispose of all or a part of their shares.
In connection with KSL’s acquisition of Intrawest’s common shares, KSL will assume Intrawest’s rights and obligations under a registration rights agreement which will provide KSL the right to require the Corporation to qualify by prospectus all or a portion of its shares for distribution to the public in Canada, subject to certain conditions. The registration rights agreement is more fully described in the Corporation’s final prospectus dated November 2, 2010 and a copy is available on SEDAR at www.sedar.com under the Corporation’s profile.
KSL’s acquisition of common shares of the Corporation from Intrawest will be made in reliance on the take-over bid exemption contained in subsection 100.1(1) of the Securities Act (Ontario), its corollary provision in Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids and section 2.3 of National Instrument 45-106 Prospectus and Registration Exemptions.
A report regarding KSL’s holding in the Corporation will be filed on SEDAR and will be available under the Corporation’s profile at www.sedar.com or by request in writing to KSL Capital Partners, LLC 100 Fillmore Street, Suite 600 Denver, CO 80206.
ABOUT WHISTLER BLACKCOMB HOLDINGS INC.
Whistler Blackcomb Holdings Inc. owns a 75% interest in each of Whistler Mountain Resort Limited Partnership and Blackcomb Skiing Enterprises Limited Partnership, which, together, carry on the four season mountain resort business located in the Resort Municipality of Whistler, British Columbia. Whistler Blackcomb, the official alpine skiing venue for the 2010 Olympic Winter Games, is situated in the Resort Municipality of Whistler located in the Coast Mountains of British Columbia 125 kilometres (78 miles) from Vancouver, British Columbia. North America’s premier four-season mountain resort, Whistler Mountain and Blackcomb Mountain are two side-by-side mountains, connected by the world record-breaking PEAK 2 PEAK Gondola, which combined offer over 200 marked runs, over 8,000 acres of terrain, 14 alpine bowls, three glaciers, receive on average over 1,192 centimetres (469 inches) of snow annually, and offer one of the longest ski seasons in North America. In the summer, Whistler Blackcomb offers a variety of activities, including hiking and biking trails, the Whistler Mountain Bike Park, and sightseeing on the PEAK 2 PEAK Gondola. Whistler Blackcomb Holdings Inc. is listed on the Toronto Stock Exchange under the symbol “WB”. For more information, visit www.whistlerblackcombholdings.com. Additional information related to the Corporation is available on SEDAR at www.sedar.com.
ABOUT KSL CAPITAL PARTNERS, LLC
KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado and New York. KSL’s current portfolio includes some of the premier properties in travel and leisure, including The Belfry, The Grove Park Inn, The Homestead, Montelucia Resort & Spa, Barton Creek Resort & Spa, Rancho Las Palmas Resort & Spa, The James Royal Palm, La Costa Resort and Spa, and ClubCorp, one of the world’s largest owners of private golf and business clubs. KSL also owns other premier recreation businesses, including Squaw Valley and Alpine Meadows, two of the leading ski resorts in North America; and Western Athletic Clubs, the owner and operator of luxury fitness clubs in California.
For more information on KSL, please visit www.kslcapital.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements or information, within the meaning of applicable Canadian securities laws, including, but not limited to, statements with respect to the anticipated closing date for KSL’s acquisition of Intrawest’s common shares of the Corporation, the appointment of new officers and new directors of the Corporation, KSL’s assumption of Intrawest’s rights under the rights registration agreement with the Corporation and other information or statements about future events or conditions which may prove to be incorrect.
The forward-looking statements and information contained in this press release are based on certain factors and assumptions made by management of the Corporation including, but not limited to KSL and Intrawest’s complying with their obligations pursuant to the purchase agreement.
The forward-looking statements and information contained in this press release are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated including, but not limited to, risks relating to the transactions not proceeding for any reason, including the price of the Corporation’s common shares changing materially as a result of any of the following unfavourable weather conditions, economic downturns, the seasonality of Whistler Blackcomb’s operations, the extent of required capital expenditures, currency fluctuations, the competitive nature of Whistler Blackcomb’s industry, the unanticipated departure of named executed officers, a general dependence on a seasonal workforce, reliance on existing material agreements, risks relating to Whistler Blackcomb’s access and use of debt financing, adequacy of the Corporation and Whistler Blackcomb’s insurance coverage, litigation, safety and accidents, environmental laws and regulations, leisure and business travel, the impact of any occurring natural disasters and economic, business and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein. Although the Corporation believes that the expectations reflected in such forward-looking statements and information are reasonable, undue reliance should not be placed on forward-looking statements or information because the Corporation can give no assurance that such expectations will prove to be correct.
These forward-looking statements and information are made as of the date of this press release, and the Corporation has no intention and assumes no obligation to update or revise any forward-looking statements or information to reflect new events or circumstances, except as required by applicable Canadian securities laws.