Just as George Banks, Mary Poppins’ bowler-hatted boss sang nearly 60 years ago, bankers demand “precision” when they go to work. Without “order” there’s a danger of “chaos and moral disintegration … and a ghastly mess.” Well sung, given that the world today faces existential “disorder” as media and entertainment bank-ers wind their way to the 75th Cannes Film Festival.
The past 15 years have already thrown outsized curve balls of their own at bankers and second-tier financiers, including the financial crisis of 2008-09, when the Masters of the Universe suffered from a Marvel-scale crisis — leading to a plethora of bank media and entertainment loan books being closed — and giving rise to a host of second tier financing operations. Fast forward to March 2020, even before the Covid-19 pandemic shook the globe, and the lending industry saw a range of key players exit the independent sector. Bank Leumi, First Republic, Pacific Mercantile and Bank Hapoalim all shuttered,...
The past 15 years have already thrown outsized curve balls of their own at bankers and second-tier financiers, including the financial crisis of 2008-09, when the Masters of the Universe suffered from a Marvel-scale crisis — leading to a plethora of bank media and entertainment loan books being closed — and giving rise to a host of second tier financing operations. Fast forward to March 2020, even before the Covid-19 pandemic shook the globe, and the lending industry saw a range of key players exit the independent sector. Bank Leumi, First Republic, Pacific Mercantile and Bank Hapoalim all shuttered,...
- 5/10/2022
- by Angus Finney
- Variety Film + TV
The novel coronavirus pandemic has already taken a toll on Hollywood and everyone who works in the business, but the industry is bound to face a tough and potentially vastly different road ahead when the lockdown lifts and Hollywood productions are cleared to resume.
“Restarting a production is going to be difficult depending on how long this goes in terms of retaining actors, keeping the schedules available for the productions to restart, which means spending money to keep the production costs in place,” Jeff Zaks, senior vice president of media and entertainment banking at Opus Bank, said during TheWrap’s live webinar on Tuesday.
Zaks, along with Banc of California head of entertainment Adrian Ward and Viviana Zarragoitia, vice president of boutique lending firm Three Point Capital, joined TheWrap founder and Editor-in-Chief Sharon Waxman Tuesday on a Zoom virtual meet-up to discuss how the pandemic is, and will continue to,...
“Restarting a production is going to be difficult depending on how long this goes in terms of retaining actors, keeping the schedules available for the productions to restart, which means spending money to keep the production costs in place,” Jeff Zaks, senior vice president of media and entertainment banking at Opus Bank, said during TheWrap’s live webinar on Tuesday.
Zaks, along with Banc of California head of entertainment Adrian Ward and Viviana Zarragoitia, vice president of boutique lending firm Three Point Capital, joined TheWrap founder and Editor-in-Chief Sharon Waxman Tuesday on a Zoom virtual meet-up to discuss how the pandemic is, and will continue to,...
- 4/7/2020
- by Trey Williams
- The Wrap
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