American business not expected to grow worldwide
HOLLYWOOD — The effects of consolidation in American media will be more visible at next week’s edition of Mipcom as yet another raft of indies throws in the Cannes towel — Larry Gershman’s WIN, Adler Video, Alice Entertainment, Hilltop, Cinetel, Unapix and Team, to name only a few.
Even NBC, once a key player on the Croisette, has seen the writing on the wall, handing over its international business to MGM.
And Saban, a mainstay of the Palais over the last decade, is making its last indie appearance before it is dismantled and swallowed up by Disney.
And there are only a few small fry popping up to try to take their place. Latest to emerge is Global Media TV, which was recently formed by veteran execs Tony Scotti and Cathy Malatesta.
Only sizeable newcomer to the market is Intermedia, a company run by international film vets Guy East and Nigel Sinclair.
“We’re in a new place, a new time. Don’t look for growth in the worldwide business from America. Expect to see it from Europe and Asia in the years to come,” is how one longtime international observer describes this shift in the U.S. distribution biz.