Month: February 2017

Film producer's plan threatens Murdoch's Fox and Sky deal

Film director and lawmaker David Puttnam is proposing measures in the UK's House of Lords aimed at frustrating Rupert Murdoch's £11.7bn (€13.69bn) plan to merge his US media company, 21st Century Fox, with pay-television broadcaster Sky.

The amendments to the proposed Digital Economy Bill would subject media acquirers to a so-called fit-and-proper test in order to hold a broadcasting licence. The test would look at any past criminal wrongdoing and corporate-governance failures – ensuring Murdoch and his son, James, who is chairman of Sky and ceo of Fox, would face new scrutiny over their handling of a hacking scandal that derailed an earlier offer for Sky.

Puttnam's proposals mark one of the first concrete moves by political opponents who argue the deal, which would unite the Murdochs' TV empire, would threaten UK media plurality.

British culture secretary Karen Bradley is under pressure from the opposition Labour party to have regulator Ofcom review the deal on public-interest grounds. Campaigners include Hacked Off, a media-accountability advocacy group formed during the phone- hacking scandal.

"These amendments would provide the necessary safeguards to ensure the public interest is protected as the bid for Sky by the Murdochs is scrutinised," Evan Harris, joint executive director of Hacked Off, said in a statement.

Fox already holds a 39pc stake in Sky. Uncertainty over whether it will succeed in buying the rest has led traders to discount Sky stock, which fell 0.2pc to £10.04 on Wednesday and remains about 6.6pc below the offer price of £10.75 per share.

The difference shows traders are concerned that political obstacles may block the deal, said Neil Campling, head of global tech, media and telecom research at Northern Trust Securities.

Officials at Sky and Fox declined to comment.

Puttnam also called for safeguards to protect editorial freedom in broadcast acquisitions, and restrictions related to influence over cultural expression.

Another clause widens the fit-and-proper test that would be conducted by Ofcom, asking the media regulator to look into past conduct, including corporate-governance failures.

"We don't think this is going to derail the bid at all," said Alice Enders, director of research at Enders Analysis, citing difficulties of getting the amendments passed through both houses of Parliament. 

"It's not going to interfere with the process of regulatory clearance at the European Commission."

The Lords proposals, which Puttnam has secured cross-party backing for, are unlikely to be voted on until March. (Bloomberg)

Film Producer Lord Puttnam launches LCC Screen School with a message for Creatives in Brexit and Trump Era

Lord Puttnam, acclaimed film producer (Chariots of Fire) and author (Movies and Money: The Undeclared War Between Europe and America), officially launched LCC Screen School with a Q&A and lecture on his career and the future of the UK’s film and TV industry in the Brexit and Trump era.

Lord Puttnam

To mark the launch of LCC Screen School, Lord Puttnam, acclaimed British producer of classic films like Chariots of Fire, Bugsy Malone and The Killing Fields, opened the inaugural annual ‘LCCScreen School Presents…’ lecture series.

Talking to students, staff, press and screen indsutry professionals, Lord Puttnam spoke about the global film industry going through huge successes over the last 100 years with a focus on the UK as a creative leader.

The impact of Brexit and Trump

Lord Puttnam had a message for LCC Screen School students as the future generation of the creative industry in light of Trump’s inauguration and Brexit negotiations:

“The UK’s film industry is a remarkable, but fragile story. The special effects business exists because in the 1960s, a migrant named Stanley Kubrick came to the UK and made 2001 [A Space Odyssey]. 45% of key employees in the special effects business aren’t British nationals, they come from the EU.”

With UAL’s Stanley Kubrick Archive based at LCC, Lord Puttnam’s nod to the legacy of Kubrick was an important reference in inspiring LCC Screen School students who have the iconic filmaker’s scripts, props and set designs at their fingertips.

Collaborate, unite and remain outstanding

Supportive of LCC Screen School’s collaborative ethos, he suggested “team-writing” as the solution for better screenwriting in the UK. He said:

“Our screenwriting is weak because our TV and theatre is so strong. We’re good with words, but we’re not a naturally visual nation, so we tend to overwrite scenes. Screenwriting is still regarded in the UK as an act in isolation.”

Lord Puttnam continued:

“It’s a fantastic time to be entering the business. We’ve just got to remain outstanding. We must stand our ground and continue to drive forward talented people. This is why what UAL is doing here, is so important. There are poetries out there, all waiting to be written by you.”

 

Read the full article here