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Ataahua
Forum Admin
/ Moderator
Apr 21, 8:43pm
Post #1 of 5
(1062 views)
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One for the techies: How Sir Peter Jackson got to have his billion-dollar exit cake and eat Hollywood too
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Backstory: Two years ago PJ sold the intellectual property of Wētā Digital to US tech giant Unity Software, then created Wētā FX for his own business. Late last year, Unity shut Wētā Digital.
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As the dust settles on one of New Zealand’s biggest exits, the $2.2 billion deal for Wētā Digital is now described by stock analysts as “bananas” and “terrible” for purchaser Unity Technologies.
The mega-deal’s unwinding late last year, just two years after the ink had dried, avoided a scourging of The Shire and left Sir Peter Jackson and other Wētā Digital shareholders with both the billions in sale proceeds as well as continued control of the lucrative Wellywood film empire.
...One film industry source familiar with Wētā's operations said even inside the company many were scratching their heads at developments over the past two years.
“It seems like Unity gave Peter a billion dollars, and then just walked away,” they said.
...Yang said when the deal was struck that Unity would commercialise Wētā's software tools and make them available for its own users in game and metaverse development but these plans did not seem to make any significant progress.
“It’s fair to say that the product vision was never realised, and was not even close in terms of execution. The progress has been way slower than what management projected at the time of acquisition,” he said.
...in 2019 (Peter Jackson) had to seek external capital for Wētā Digital – by far the largest operator in Wellywood – and sold a quarter of the company to Napster founder Sean Parker for $100m.
Parker is understood to have been a key player in engineering the sale to Unity, which saw his $100m investment turn into a $600m payday in just two years, and he retains a significant stake in Wētā FX.
Full story: https://www.nzherald.co.nz/...P6RDJ3AM2PXOFOUISHQ/
Celebrimbor: "Pretty rings..."
Dwarves: "Pretty rings..."
Men: "Pretty rings..."
Sauron: "Mine's better."
"Ah, how ironic, the addictive qualities of Sauron’s master weapon led to its own destruction. Which just goes to show, kids - if you want two small and noble souls to succeed on a mission of dire importance... send an evil-minded beggar with them too." - Gandalf's Diaries, final par, by Ufthak.
Fantasy novel - The Arcanist's Tattoo
My LOTR fan-fiction
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CuriousG
Half-elven
Apr 24, 5:27pm
Post #2 of 5
(973 views)
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That does have my head spinning, that a $2 billion deal fizzled in only a couple years and seemed dead from the start. Next time, can someone hand me the $2 billion first so I can play with it since they're just throwing it away?
That does leave PJ so much richer: I wonder if that means more movies, or more mansions, or will he buy Tahiti? 
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Ataahua
Forum Admin
/ Moderator
Apr 24, 7:29pm
Post #3 of 5
(969 views)
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Well he's certainly buying a lot of land around Wellington.
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Not all of his purchases are going down well (it involves local government politics, so we'll just move on from that) but he won't ever have to worry about the price of bread.
Now if only he'd get going on his outstanding movie projects - but I strongly doubt we'll ever see his Dambusters or Temeraire movies.
Celebrimbor: "Pretty rings..."
Dwarves: "Pretty rings..."
Men: "Pretty rings..."
Sauron: "Mine's better."
"Ah, how ironic, the addictive qualities of Sauron’s master weapon led to its own destruction. Which just goes to show, kids - if you want two small and noble souls to succeed on a mission of dire importance... send an evil-minded beggar with them too." - Gandalf's Diaries, final par, by Ufthak.
Fantasy novel - The Arcanist's Tattoo
My LOTR fan-fiction
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CuriousG
Half-elven
Apr 25, 12:15am
Post #5 of 5
(949 views)
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Look, my free images on Imgur will FIX Galadriel for PJ. It's win-win. I'm waitng for his call. //
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