Latest news with #StevenPaul
Yahoo
6 days ago
- Business
- Yahoo
Where Did the $750 Million Go? Hollywood Incentive Bill Passes CA Senate Without Newsom's Pledge
Legislation aimed at modernizing and expanding California's program that provides subsidies to film and TV productions has passed the California Senate, though this version of the bill doesn't commit to increasing the cap from $330 million to $750 million a year. Tuesday's near unanimous vote was 34 to one, with the only dissent coming from Sen. Roger Niello (R-Sacramento). The bill, which now heads to the state Assembly for consideration, would vastly boost subsidies to shoot in the state to at least 35 percent while expanding the category of productions that qualify to include shorter TV shows, animated titles and certain types of unscripted projects. More from The Hollywood Reporter New Report Portrays California's Film and TV Production Environment as Uniquely Burdensome and Expensive Steven Paul, Architect of Trump Ambassador Plan to Hollywood, Buys Production Facility L.A. Mayor Vows to Cut Red Tape and Make It Easier to Shoot Movies and Shows In the City Its passage is a crucial victory for workers across Hollywood who've seen significantly less work as productions increasingly opt to shoot in other areas that offer more tax credits. It's the first step in revamping California's program amid a tit-for-tat race to host the entertainment industry. 'We need to do whatever we can to make sure California remains the number one entertainment capitol of the world,' said Sen. Tony Strickland (R-Huntington Beach). 'In order to do that, we need to be in the ballpark. We don't need to top other states, but we need to be in the ballpark.' If passed, Senate Bill 630 would bring the most significant changes to the program since its inception in 2009. The bill, SB 630, was spurred by a historic downturn in filming in the state. The 20 percent base credit offered by California is lower than most competitive film hubs, including New York, Georgia and the U.K. There was broad bipartisan support for the bill, with several lawmakers stressing the impact that the downturn in production has had on their districts in recent years. 'The domino effect is vast,' said Sen. Carolina Menjivar (D-San Fernando Valley), whose district includes Burbank. 'This impacts dry cleaners and the people with small restaurants around these studios. They've noted a decreased amount of pedestrian traffic to their businesses because they're surrounded by studios and there's not a lot of work.' Sen. Suzette Martinez Valladares(R-Santa Clarita) said that soundstages and postproduction houses in her district are suffering as productions opt to work with vendors in other states and countries. She pointed to the first season of Amazon's Fallout filming in New York despite the story taking place in a post-apocalyptic California (season two opted to shoot in California after receiving tax credits). 'We're losing significant ground,' she said. 'Other states have built entire industries luring production away from California.' Under the bill, productions could get 35 percent of their spend back for costs incurred in the states. An additional five percent credit would also be available for shooting in certain areas outside Los Angeles. And in a bid to keep up with other regions broadening the types of productions that can receive subsidies, TV shows consisting of two or more episodes of at least 20 minutes would qualify for the program, which currently only allows series with episodes of at least 40 minutes to qualify. Other productions that could get credits under the revisions to the bill include sitcoms, animated films, series or shorts and 'large-scale competition' shows, excluding reality, documentary programming and game or talk shows. They must have budgets of at least $1 million. The bill, however, doesn't contemplate allowing any portion of above-the-line costs, like salaries for actors, directors and producers, to qualify for subsidies. California is currently the only major film hub to maintain such a scheme. Sen. Ben Allen (D-Santa Monica) said that the state wants to 'avoid a race to the bottom.' He added that the program is 'grounded in jobs creation and economic activity' unlike Georgia's. The legislation is expected to meet more resistance on Thursday at the state Assembly, where lawmakers could express concerns over increasing subsidies to film and TV productions as the state proposes major cuts to health care and universities. Best of The Hollywood Reporter How the Warner Brothers Got Their Film Business Started Meet the World Builders: Hollywood's Top Physical Production Executives of 2023 Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
Yahoo
20-05-2025
- Business
- Yahoo
Steven Paul's SP Media Group Acquires Avenue Six Studios to Boost Local Film Production in Hollywood
The Landmark Studio is to Serve as a New Base for Film Production as SP Media Group Ramps Up U.S.-Based Output LOS ANGELES, May 20, 2025 /PRNewswire/ -- SP Media Group, a production and entertainment company led by veteran producer Steven Paul, announced today the acquisition of Avenue Six Studios, a premier production facility in Van Nuys, California. Founded by Paul Reitzen in 2009, the studio features four fully equipped sound stages, a backlot modeled after a New York City street, and has produced numerous films, commercials, and television shows, including talk shows for Oprah Winfrey and Marie Osmond. "We're committed to making films in Hollywood and making Avenue Six Studios the most producer-friendly studio for filmmakers from around the world," said Paul. "I currently have three productions slated for the studio this year and look forward to welcoming more projects to take advantage of its production capabilities." "Avenue Six is a versatile production studio perfectly suited to accommodate an array of creative visions," said Scott Karol, President of SP Media Group/Atlas Comics. "The studios will be used primarily for film and television production, while its smaller sound stages will be used for branded content, music videos, photography, social media campaigns, podcasts, workshops, and industry events." Future developments to the facility will include the integration of an LED virtual production stage to create immersive visual environments in real time, and a post-production facility, including editing suites and audio facilities, to offer a full-service, end-to-end production environment. This acquisition follows the successful relaunch of Atlas Comics, which under Paul's leadership is developing a slate of film and TV properties, led by the upcoming live-action feature Devilina in partnership with Paramount Pictures. "Avenue Six has always stood apart as a certified stage, saving clients time and money by eliminating permit requirements," said Paul Reitzin, founder of Avenue Six Studios. "With access to props, sets, lighting, equipment and our New York-style backlot, we've proudly served as a one-stop shop for nearly a decade." Steven Paul, who serves as Special Advisor to Hollywood Ambassador Jon Voight, recently submitted a proposal to President Trump on how to increase U.S.-based film and television production. The plan, which includes federal tax incentives, co-production treaties, job training, and infrastructure subsidies, is currently under review by the White House. Paul has recently collaborated with Voight on a series of films, including Man with No Past, High Ground, and The Last Gunfight, and has several new titles now in development or production. "I've been filming in Los Angeles since I was twelve years old, when I first played a lead in Kurt Vonnegut Jr.'s, Happy Birthday, Wanda June for Columbia Pictures, and I'm thrilled at what's possible now that we have our own studio," said Paul. About Steven Paul Steven Paul is a leading independent film producer and chairman/CEO of SP MEDIA GROUP [SPMG] based on the Paramount lot in Hollywood, CA. SPMG maintains a co-financing agreement with Paramount Pictures to co-produce feature films and has financed and produced over twenty motion pictures in the past three years. Paul, who has a substantial real estate portfolio, including the Samuel Goldwyn building in Century City and a hotel in Miami, recently acquired the Atlas Comics library, founded by Marvel Comics founder Martin Goodman. Atlas Comics relaunched at New York Comin Con in October in partnership with Walmart, while also celebrating its 50th anniversary. Paul is also the owner of leading independent distributor Echo Bridge, and recently acquired a substantial stake in JLTV – the largest Jewish network in the world, available in more than 65m households in North America. SPMG has a library of more than 3,000 films through its affiliated companies and supplies content to leading AVOD platforms like Pluto TV and more. Press Contact: Rubenstein Public RelationsKevin PryorEmail: kpryor@ (212) 805-3057 View original content: SOURCE SP Media Group, LLC
Yahoo
20-03-2025
- Health
- Yahoo
The International Society for CNS Drug Development (ISCDD) Honors Sharon Mates, PhD, and Steven Paul, MD with Prestigious Leadership Award at 23rd Annual Meeting
LAS VEGAS, March 20, 2025 /PRNewswire/ -- The International Society for CNS Drug Development (ISCDD), a non-profit organization dedicated to advancing central nervous system drug development, is pleased to announce that Sharon Mates, PhD, and Steven Paul, MD, have been named the recipients of the ISCDD Leadership Award at its 23rd Annual Meeting. The awards were presented by Dr. Amir Kalali, and Dr. Bill Martin on behalf of the ISCDD leadership. Dr. Kalali remarked: "Dr. Sharon Mates combines a unique background in neuropsychopharmacology, business, and leadership skills that have shepherded new treatments for patients. It is our honor to acknowledge Sharon's impact on CNS drug development over many decades." "Dr. Steven Paul has been singularly successful in developing multiple new breakthrough treatments for patients. It is our honor to acknowledge his impact in CNS drug development over many decades." Dr. Martin, Chairman of the ISCDD Executive Committee, added: "Dr. Sharon Mates' visionary leadership and commitment to innovation have helped transform the CNS drug development landscape. Her deep scientific expertise, relentless curiosity, and patient-centered approach have led to transformational innovations that continue to make a meaningful difference in the lives of so many patients." "Dr. Steve Paul is the quintessential physician-scientist – a true visionary who has transformed the theoretical understanding of complex neurological disorders into tangible therapeutic breakthroughs that have helped restore function and dignity for millions of patients." Dr. Mates said: "I am deeply honored to accept the International Society for CNS Drug Development Leadership Award. I share this achievement with the ITCI scientists, researchers, and healthcare professionals who work tirelessly to find innovative therapies for some of the most complex and challenging CNS disorders. I am inspired every day by their commitment to advancing our understanding of the brain. We are proud of the hundreds of thousands of patients we have helped." Dr. Paul said: "I am deeply honored to receive this award from the ISCDD, a group of dedicated and experienced CNS drug developers who fully appreciate the challenges and opportunities of developing new medicines for some of the most disabling and potentially fatal brain disorders. Many members of ISCDD were instrumental in the successful development of the CNS medicines I have been passionate about and have worked on for years, so my gratitude extends well beyond receiving this award—and is really on behalf of the millions of patients and their families who benefit from our collaborative work." Founded in 2002, the ISCDD is a non-profit, independent leadership forum that brings together academia, industry, and government stakeholders to foster collaboration and drive progress in CNS drug development. For more information, please contact: ISCDD SecretariatPhone: 702-992-0784Email: 392253@ LinkedIn: View original content: SOURCE International Society for CNS Drug Development Sign in to access your portfolio
