Boat Rocker Media has acquired unscripted production company Matador Content, best known for producing Paramount Network’s “Lip Sync Battle,” in a cash and stock transaction, the companies announced on Thursday.
Matador Content will keep its name and its leadership team, meaning founders Jay Peterson and Todd Lubin will remain atop the company, which will join the Boat Rocker group. The two companies will focus on targeting high-priority intellectual property (IP) and accelerating its path to the global content marketplace.
This transaction marks Boat Rocker’s largest expansion into the U.S. market.
“We are thrilled to partner with Jay, Todd and the entire Matador team, as Boat Rocker continues to expand its capabilities as a global studio with a focus on premium content production and brand building,” said David Fortier and Ivan Schneeberg, co-executive chairmen, and John Young, CEO, of Boat Rocker Media. “While we have seen meaningful success in the US market with some of our own original series, we believe that, together with Matador, we will make an even bigger mark in very short order.”
The deal marks Boat Rocker’s third acquisition in 2018, having previously acquired Fremantle’s Kids & Family division as well as a majority stake in Canadian production company, Insight Productions. The partnership with Boat Rocker Media will allow Matador to ramp up its development slate across all genres and to access new sources of financing for pilots and series going forward.
“We have achieved incredible things over the past five years because of the amazing team of people at Matador. Boat Rocker gives us access to a premier financing and global distribution arm that will accelerate our growth and allow us to do even more with our creative and broadcast partners,” said Peterson and Lubin. “We have gotten to know the Boat Rocker team well over the past several years and believe this union perfectly suits the vision we have for our company’s future.”
For Boat Rocker, Paul, Weiss, Rifkind, Wharton & Garrison and Stikeman and Elliott served as legal counsel and TD Securities served as an advisor on the transaction. For Matador Content, CAA and Evolution Media Capital advised on the transaction and Sidley Austin LLP and Hansen, Jacobson, Toberman, Heller and Newman served as legal counsel.
16 Hollywood and Media Deals With Saudi Arabia - and Where They Now Stand (Gallery)
A growing number of Hollywood and U.S. media companies have backed out of business deals with Saudi Arabia and the crown prince, known by his initials MBS, after Turkish officials concluded that journalist Jamal Khashoggi was murdered by Saudi operatives inside the Saudi consulate in Istanbul on Oct. 2.
Here is a list of Hollywood and media deals with Saudi Arabia -- and where they stand now.
Richard Branson
British entrepreneur Richard Branson announced he would step down as chairman of Virgin Hyperloop, a planned supersonic transport system in the United Arab Emirates and other countries, CNBC reported.
The Harbour Group
Leading D.C. lobbying firm representing the Saudi government’s interests, the Harbour Group, announced on Oct. 11 it was terminating its $80,000-a-month contract with the kingdom.
Endeavor
WME parent company Endeavor, one of Hollywood's top talent agencies, said on Oct. 15 it was preparing to withdraw from its $400 million financing deal with the Saudi Arabian government.
Gerard Butler
Actor Gerard Butler pulled out of a trip to Saudi Arabia to promote his new movie "Hunter Killer" following Khashoggi's disappearance.
‘Davos in the Desert’
The New York Times, Bloomberg, CNN, CNBC, The Financial Times, Nikkei, The Los Angeles Times, Fox Business Channel, Viacom and The Economist are among the names that have withdrawn their sponsorship or canceled their appearances from the high-powered Future Investment Initiative conference in Riyadh, dubbed “Davos in the Desert,” to be hosted by the Crown Prince and the kingdom’s sovereign wealth fund in late October.
Uber
CEO Dara Khosrowshahi said he was "troubled by the reports" and would not attend the conference "unless a substantially different set of facts emerges."
AMC
The movie theater chain has plans to open 40 theaters in the kingdom within the next five years, with the aim to reach 100 locations by 2030.
AMC declined to comment when reached by TheWrap.
Penske Media Corp.
In February, Penske, which owns Hollywood trades Variety and Deadline, among other publications, received a $200 million investment from Saudi Arabia’s Public Investment Fund. The company declined to comment about whether it will reassess the investment.
World Wrestling Entertainment
WWE, which is due to return to Saudi Arabia on Nov. 2 for its "Crown Jewel" wrestling event, told TheWrap in statement that it’s "currently monitoring the situation." An insider also told TheWrap WWE talent have been instructed to promote the event -- but not its location -- for two weeks now.
IMAX
Plans for IMAX to build more movie theaters in the kingdom, which have been mired in red tape, will likely be put on “pause” following Khashoggi’s disappearance, according to a person with knowledge of the situation who spoke with TheWrap.
Vox Cinemas
This Dubai-based movie theater chain -- not to be confused with media outlet Vox -- often received revenue from rich Saudis who traveled to Dubai on weekends while KSA’s cinema ban was in effect. They, along with AMC, got the inside track on negotiations to build cineplexes in the country and are currently the only two chains with the license from the government to do so. Vox declined to comment.
Feld Entertainment
The company told TheWrap it had not signed any deals with the Saudis to bring international events, including “Disney on Ice,” “Disney Live,” “Marvel Experience” and “Monster Jam” to the kingdom, but that it was “still in conversation” with the kingdom. The company did not wish to comment further.
iPic
In March, the Florida-based luxury movie theater chain had announced it had partnered with Saudi firm BAS Global Investments Co. to develop cinemas and restaurants throughout the kingdom. An iPic rep told TheWrap Wednesday that it had “no further updates” on the deal.
Nat Geo
In April, National Geographic announced it was partnering with the General Entertainment Authority of Saudi Arabia to develop and launch several locations for its walk-through virtual-reality zoo.
Reps for Nat Geo told TheWrap they “don’t have an answer yet” on whether the partnership will continue.
Cirque du Soleil
The iconic live entertainment brand had its first performance in Saudi Arabia on Sept. 23, just before Khashoggi went missing. It is unclear whether the company has any more performances planned in Saudi Arabia. Reps for the company did not respond to a request for comment from TheWrap.
IMG Artists
The performing arts, social media, and festival and events management company signed a letter of intent to bring large-scale festivals to the kingdom.
A rep for IMG told TheWrap that the deal went “stale” shortly after it was signed, following “changes” in the monarchy’s 2030 Vision campaign.
1 of 17
Death of dissident journalist Jamal Khashoggi threatens kingdom’s modernization plans
A growing number of Hollywood and U.S. media companies have backed out of business deals with Saudi Arabia and the crown prince, known by his initials MBS, after Turkish officials concluded that journalist Jamal Khashoggi was murdered by Saudi operatives inside the Saudi consulate in Istanbul on Oct. 2.
Here is a list of Hollywood and media deals with Saudi Arabia -- and where they stand now.
