North America Leadership Team Announced for the New Joint Venture Comprised of Endemol, Shine Group and CORE Media
28th Oct 2014
In a series of announcements made today it was confirmed that Cris Abrego and Charlie Corwin will serve as Co-Chairmen and Co-CEOs North America of the new joint venture, which brings together Endemol, Shine Group and CORE Media. In their new roles, Abrego and Corwin will continue to report to Tim Hincks, President of the global multi-platform content provider, and will continue to spearhead day-to-day operations across Endemol’s operations in the U.S., in addition to assuming responsibility for Shine America upon completion of the transaction.
Peter Hurwitz will oversee CORE Media as President.
“Cris and Charlie are exceptionally creative entrepreneurs and leaders who are tremendously respected by the creative community, partners, and colleagues alike,” said Sophie Turner Laing and Tim Hincks. “Together with Peter we couldn’t ask for stronger executives to spearhead the venture’s US operations into a new phase of creativity and growth.”
“We are thrilled by the opportunity to grow these businesses, both creatively and commercially,” said Cris Abrego and Charlie Corwin. “Having been part of the team that has laid such a strong foundation over the past few years it’s been a privilege to work alongside the most creative, innovative and driven talent and executives in the business; and we’re excited about where we collectively can take this new venture.”
“This is a transformative time in our industry. The new venture will be a magnet for creative talent and presents huge opportunities for the future growth of CORE,” said Peter Hurwitz.
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It was also announced today that Rich Ross, CEO of Shine America, will leave to take up a new industry position and departs the company at the end of this month. Shine Group CEO, Alex Mahon will undertake day-to-day responsibilities for Shine America until the new joint venture is formed.
Turner Laing and Hincks added, “We’d like to thank Rich for his leadership of Shine America. His creative talent has led the business through a period of tremendous commercial and creative growth, which has left an indelible mark on the Company. We wish him all the best in his future endeavours.”
“As I get ready for my next adventure I can’t help but reflect on what an incredible experience Shine America has been for me both personally and professionally,” said Rich Ross. “I’m proud of the work we have accomplished together and I’m very grateful to the entire Shine family for their collaboration and support over the last few years. I wish them all the best as they embark on this incredibly exciting new era.”
21st Century Fox and Apollo recently announced a final agreement to create a leading global multi-platform content provider, bringing together Endemol, Shine Group and CORE Media. Under the terms of the agreement 21st Century Fox and Apollo will jointly manage the newly created group, with each owning 50 per cent. The group’s businesses will have creative operations in over 30 markets, with a diverse portfolio of over 600 revenue generating formats in both the scripted and non-scripted genres; coupled with digital, gaming, and distribution operations.
Completion of the transaction remains subject to regulatory clearances and other customary closing conditions. Prior to completion of the transaction, Endemol, Shine and CORE will continue to operate as separate companies. Upon completion of the transaction, CORE will retain its own capital structure. The transaction is expected to be completed by the end of the calendar year.
Biographical information:
Cris Abrego was appointed co-chairman and co-CEO of Endemol North America in September 2013, alongside Charlie Corwin. In this role they have expanded Endemol’s reach in live events and digital, and have agreed exclusive production deals with global talent. Prior to joining Endemol Abrego was co-founder and chief of 51 Minds, a leading creator and producer of reality television formats in the U.S., and recognized globally for pioneering a new genre of unscripted programming including the breakout hit series “The Surreal Life”. Abrego sold his company 51 Minds to Endemol in 2008. Abrego began his career at Bunim/Murray, where he worked on “The Real World” and “Road Rules.”
Charlie Corwin is co-chairman and co-CEO of Endemol North America. Corwin previously led the production company Original Media as CEO and co-founder, developing of some of the US’s most successful TV series and formats, as well as critically acclaimed successes. Endemol acquired a majority stake in Original Media in November 2007, after which Corwin remained as CEO and continued to grow the business. Corwin has produced numerous feature films that have been nominated for a total of 14 Spirit Awards, 3 Golden Globes, and 2 Academy Awards. He began his career at the Internet start-up Live Music Channel, which was a pioneer in video streaming and provider of live concert performances for television and the Internet, as Co-Founder and President.
Peter Hurwitz joined CORE Media as Executive Vice President and General Counsel in February 2012. Hurwitz previously served as Executive Vice President, General Counsel, for Martha Stewart Omnimedia and in the same role at The Weinstein Company. Prior to joining The Weinstein Company, Mr. Hurwitz held a number of other positions including Chief Administrative Officer for the Merchant Banking Group of The Bank of Montreal, and COO and General Counsel for The Chatterjee Group, an affiliate of Soros Fund Management, where he joined after being in private practice at the law firm Paul, Weiss, Rifkind, Wharton and Garrison.
For more information:
Charlie Gardner
tel: +44 (0) 7977 075 643
[email protected]
Patrick Keegan
Tel: +44 (0) 7990 555 305
[email protected]