A first-look deal is any contract containing a clause granting, usually for a fee or other consideration that covers a specified period of time, a pre-emption right, right of first refusal, or right of first offer (also called a right of first negotiation) to another party, who then is given the first opportunity to buy outright, co-own, invest in, license, etc., something that is newly coming into existence or on the market for the first time or after an absence, such as intellectual property (manuscript, musical composition, invention, artwork, business idea, etc.) or real property (real estate).
In the film industry, it is an agreement between a writer and an independent production company or between an independent production company and a film studio in which the potential buyer (producer or studio) of a not-yet-written script or in-development film or television project pays a development fee to the writer or producer for the right to have the first look at the new material before others in the industry get to see it, and at that time make an offer to purchase or distribute or adhere to purchasing or distribution terms already stated in the agreement. [1] If the studio or company is not interested in the project, the nature of the deal allows the developer to take the project to other potential buyers. [2]
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, business organizations, or their operating units are transferred to or consolidated with another company or business organization. This could happen through direct absorption, a merger, a tender offer or a hostile takeover. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position.
A screenwriter is a writer who practices the craft of screenwriting, writing screenplays on which mass media, such as films, television programs, and video games, are based.
Metro-Goldwyn-Mayer Studios Inc., is an American media company specializing in film and television production and distribution based in Beverly Hills, California. It was founded on April 17, 1924 and has been owned by the Amazon MGM Studios subsidiary of Amazon since 2022.
A film producer is a person who oversees film production. Either employed by a production company or working independently, producers plan and coordinate various aspects of film production, such as selecting the script, coordinating writing, directing, editing, and arranging financing.
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation. A royalty interest is the right to collect a stream of future royalty payments.
Right of first refusal is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. A first refusal right must have at least three parties: the owner, the third party or buyer, and the option holder. In general, the owner must make the same offer to the option holder before making the offer to the buyer. The right of first refusal is similar in concept to a call option.
A timeshare is a property with a divided form of ownership or use rights. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each owner of the same accommodation is allotted their period of time. Units may be sold as a partial ownership, lease, or "right to use", in which case the latter holds no claim to ownership of the property. The ownership of timeshare programs is varied, and has been changing over the decades.
Filmmaking or film production is the process by which a motion picture is produced. Filmmaking involves a number of complex and discrete stages, beginning with an initial story, idea, or commission. Production then continues through screenwriting, casting, pre-production, shooting, sound recording, post-production, and screening the finished product before an audience, which may result in a film release and exhibition. The process is nonlinear, as the director typically shoots the script out of sequence, repeats shots as needed, and puts them together through editing later. Filmmaking occurs in a variety of economic, social, and political contexts around the world, and uses a variety of technologies and cinematic techniques to make theatrical films, episodic films for television and streaming platforms, music videos, and promotional and educational films.
In the film industry, an option agreement is a contract that "rents" the rights to a source material to a potential film producer. It grants the film producer the exclusive option to purchase rights to the source material if they live up to the terms of the contract and make a film from it. This is known as optioning the source material.
Imagine Entertainment, formerly Imagine Films Entertainment, also known simply as Imagine, is an American film and television production company founded in November 1985 by producer Brian Grazer and director Ron Howard.
A production company, production house, production studio, or a production team is a studio that creates works in the fields of performing arts, new media art, film, television, radio, comics, interactive arts, video games, websites, music, and video. These groups consist of technical staff and members to produce the media, and are often incorporated as a commercial publisher.
A talent agent, or booking agent, is a person who finds work for actors, authors, broadcast journalists, film directors, musicians, models, professional athletes, screenwriters, writers, and other professionals in various entertainment or sports businesses. In addition, an agent defends, supports and promotes the interest of their clients. Talent agencies specialize, either by creating departments within the agency or developing entire agencies that primarily or wholly represent one specialty. For example, there are modeling agencies, commercial talent agencies, literary agencies, voice-over agencies, broadcast journalist agencies, sports agencies, music agencies and many more.
Commercial property, also called commercial real estate, investment property or income property, is real estate intended to generate a profit, either from capital gains or rental income. Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages. In many U.S. states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.
Film finance is an aspect of film production that occurs during the development stage prior to pre-production, and is concerned with determining the potential value of a proposed film.
Flat-fee multiple listing service or flat-fee MLS refers to the practice in the real estate industry of a seller entering into an "à la carte service agreement" with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. A flat-fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and lists the property for sale in the local multiple listing service (MLS) à la carte without requiring the seller to use all services.
Icon Productions is an Australian-American production company founded in August 1989 by actor/director Mel Gibson and Australian producing partner Bruce Davey, which, unlike most other independent production companies, funds most of its development and production costs, allowing it to retain creative control of its projects. Its headquarters are in Santa Monica, California.
DreamWorks Television was an American television distribution and production company based in Universal City, California, that was a division of DreamWorks. It folded into Amblin Television in 2013.
A spec script, also known as a speculative screenplay, is a non-commissioned and unsolicited screenplay. It is usually written by a screenwriter who hopes to have the script optioned and eventually purchased by a producer, production company, or studio.
The Financial Interest and Syndication Rules, widely known as the fin-syn rules, were a set of United States rules imposed by the Federal Communications Commission (FCC) in 1970 on the television industry.
Skydance Media, LLC, also known as Skydance Productions, is an American media production company based in Santa Monica, California. Founded by David Ellison in 2006, the company specializes in films, animation, television, video games, and sports.
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