Embracer Group to Undergo Layoffs and Game Cancellations in Corporate Restructuring

Patrick Frater Asia Bureau Chief Universal Music Group has struck an agreement to acquire majority control of the second largest music catalog in Thailand, one of the fastest growing music markets in Asia. It is buying 70% of the music catalog of RS Group, a stock market-listed music distributor and artist management group. In its regulatory filing, RS group said that UMG is paying $45 million (THB1.61 billion) for the stake and that earn-out payments could lift this by a further $44.9 million (THB174 million). The deal is expected to close in the third quarter of the year. The music catalog will then form the core of a new partnership between UMG and RS Group with UMG becoming RS Group’s exclusive music service partner for new releases and new music repertoire worldwide. UMG will also receive exclusive rights of first refusal and matching rights to acquire new releases and repertoire. UMG will become the second-largest player in the Thai music market.

EXCLUSIVE: Israeli game show format Raid The Cage is heading to the U.S.

Angelique Jackson Chlöe Bailey and Whoopi Goldberg were among the A-list honorees at the third annual Hollywood Unlocked Impact Awards. “It’s always nice to know that people appreciate you, and this award is really given because of what folks feel like I’ve done for the culture,” Goldberg said in a video message, accepting the Social Impact Award from presenter Macy Gray and thanking Hollywood Unlocked for the recognition. The East Coast-based Goldberg didn’t travel to L.A. for the awards ceremony, held at the Beverly Hilton on Tuesday night. Instead, the EGOT winner recorded her acceptance speech from home, gleefully thanking “everyone who thought this [honor] was a good idea” and sharing how wonderful it was to hear that her accomplishments were appreciated.

Naman Ramachandran Steve Knibbs, group managing director and deputy CEO of cinema chain Vue International, is set to retire. Knibbs will be stepping down on Aug. 31, bringing an end to his 36-year career in the cinema industry that includes a tenure of two decades at Vue International. Knibbs reflected on his journey, stating: “When I first entered AMC Cinemas at The Point in Milton Keynes in 1987, little did I know that it would shape my working life for the next 36 years. Now, as I prepare for retirement, I can say that I have had the privilege of experiencing the best moments of my career alongside countless exceptional individuals and teams across the U.K. and Europe.”

Elsa Keslassy International Correspondent Viaplay Group has unveiled its new operating model and executive management team for the Nordics as it anticipates an economic downturn. Earlier this month, Viaplay issued a warning over its second-quarter results and told employees that it would merge the Swedish and Norwegian units of its production arm into a new entity named Viaplay Studios. The listed banner also has new leadership — Anders Jensen stepped down and was replaced by Jorgen Madsen Lindemann as Viaplay’s CEO and president. Under the new operating model, which will be effective on July 1, the daily operation and strategic development of the businesses will be spearheaded by country management teams. Madsen Lindemann will be interim CEO of the Swedish and Finnish operations; Lars Bo Jeppesen has been appointed as EVP and CEO of the Danish and Icelandic operations and will join on Aug. 1.; and Kenneth Andresen has been appointed as interim CEO of the Norwegian operation.

K.J. Yossman Embracer Group, the Swedish gaming conglomerate that snapped up the rights to “Lord of the Rings” and “The Hobbit” in a surprise deal last summer, has finally revealed how much it paid – and it seems like they got a bargain. The Karlstad-headquartered company has confirmed it spent SEK 4.2 billion – $395 million at today’s conversion rates – to acquire Middle-Earth Enterprises from the Saul Zaentz Company last August. At the time the deal was announced, Embracer and Saul Zaentz declined to say how much the “Lord of the Rings” holding company had sold for. But estimates at the time projected the rights – which include worldwide rights to films, video games, board games, merchandising, theme parks and stage productions – were worth up to $2 billion.

Sweden’s Embracer paid nearly $396M for the rights to the Lord of the Rings franchise.

“The world’s most notorious game becomes reality.”

Ariana Madix and Katie Maloney have navigated the world of Vanderpump Rules and beyond side by side.

Another awkward Easter egg. Raquel Leviss recounted an exchange she had with Lala Kent over a potential romance with Oliver Saunders to Ariana Madix and Tom Sandoval before news broke of Scandoval.

Tom Holland is opening up about his friendship with ‘Spider-Man’ stars Andrew Garfield and Tobey Maguire, who played the iconic superhero role before him. The 27-year-old actor is sharing his appreciation for the two stars and talked about their bond after filming the 2021 film ‘Spider-Man: No Way Home.’During a recent interview with Vanity Fair, the actor revealed that they still keep in contact after working together. “We have a great group chat and we catch up every now and then.

Tom Holland, Andrew Garfield and Tobey Maguire have a “Spider-Boys” group chat.

Tom Sandoval and Raquel Leviss didn't exactly hide their attraction to one another. During the «Secrets Revealed» episode of on Wednesday, Sandoval and Leviss flirted right in front of Ariana Madix while she was still in a relationship with the former.In one unaired scene, Sandoval told Madix what went down during a guys' get-together he had, a night fans now know was when he first hooked up with Leviss.

He would like to be excluded from this narrative. Tom Schwartz opened up about the challenges he’s faced in the aftermath of Tom Sandoval and Raquel Leviss‘ affair.

Layoffs and closures are imminent at Lord of the Rings IP owner Embracer Group as the Swedish outfit unveils a restructure that will focus on “cost savings, capital allocation, efficiency and consolidation.”

Still looking for answers. Scheana Shay learned more about Tom Sandoval and Raquel Leviss‘ affair at the Vanderpump Rules season 10 reunion — but there is still at least one question left unanswered.

Grand Crew has been canceled at NBC after two seasons.

Selome Hailu “Young Rock” and “Grand Crew” have both been canceled at NBC. Based on the life of Dwayne “the Rock” Johnson, “Young Rock” followed Dwayne as he rose from childhood to a wrestling career to Hollywood stardom. Johnson starred as himself alongside Joseph Lee Anderson as Rocky Johnson, Stacey Leilua as Ata Johnson, Ana Tuisila as Lia Maivia, Adrian Groulx as 10 to 14-year-old Dwayne aka Dewey, Bradley Constant as 15 to 17-year-old Dwayne, Uli Latukefu as 18 to 26-year-old, Fasitua Amosa as Sika Anoa’i, John Tui as Afa Anoa’i and Matthew Willig as André the Giant. “Young Rock” premiered in February of 2021 and concluded its third season in February of this year. The series was co-created by Nahnatchka Khan and Jeff Chiang, who executive produced alongside Johnson, Dany Garcia, Jennifer Carreras, Hiram Garcia and Brian Gewirtz. Universal Television served as the studio in association with Seven Bucks Productions and Fierce Baby Productions.

A “Vanderpump Rules” alum is calling out Tom Sandoval.

Vanderpump fans are processing a lot right now, but this might be the thing that breaks my brain.Bravo promised the last five minutes of the would be a game-changer and (if you ask me), they weren't lying. A week after the reunion finished taping, Leviss returned to give producers one last interview—in which she recanted all the lies (her words!) Sandoval allegedly encouraged her to stick to at the reunion, including the fact that they while Madix was out of town for her grandmother's funeral.