Global advisory firm FTI Consulting is expanding its entertainment and media practice, tapping Philip Schuman to co-lead the group with Luke Schaeffer and the firm’s content valuation experts, Roy Salter and Eric Briggs.
The move essentially absorbs HighView Media, the consultancy firm that Schuman launched after serving as co-president of Universal Television Distribution.
With Schuman, FTI will now be able to provide clients advice on delivery platforms, including cable operators, satellite companies, IPTV providers, mobile providers, Internet platforms, and branded entertainment destinations — an attractive offering as more content owners turn to new outlets to distribute entertainment.
“Phil and the HVM team give us added depth and another key point of entry into media and entertainment companies, especially at a time when both sectors face not only intense day-to-day strategic, competitive and operational challenges, but potentially disruptive technological changes as well,” said Carlyn Taylor, head of FTI Consulting’s TMT practice. “With the HVM team and our already strong existing services, we have created a leading large-scale media and entertainment group designed to assess, recommend and execute the actions needed for our clients to prosper amid transformative changes facing their industries.”
Schuman will serve as senior managing director and co-leader of FTI Consulting’s media and entertainment group.
“Almost every company you talk to is facing a transformational change in the industry,” Schuman told Variety. Through FTI, his team will focus on “looking at the world not as a shrinking empire but one that helps companies grow the pie and win.”
The move to bring in Schuman comes after FTI acquired The Salter Group in 2013. That firm had worked on some of Hollywood’s most high-profile sales, especially those involving the valuation of film libraries and other assets.
Schuman’s staff of five will join him at FTI, including Cindy Wang and Daniel Punt, who both become managing directors.
Alexander Trauttmansdorff and Fabrice de Sez of HVM’s European unit also will become affiliated with FTI Consulting to provide media and entertainment expertise.
“FTI Consulting is an ideal platform for the HVM team to join as the industry pushes closer to a tipping point because of new technologies, consolidation and globalization,” said Schuman. “By combining HVM’s sector expertise, business development and strategic assessment capabilities with FTI Consulting’s global reach, leading media and entertainment valuation and financial advisory services, we believe our combined group will create its own special alchemy.”