...DUISENBERG SCHOOL OF FINANCE MSc FINANCE Corporate Finance and Banking Arundel Partners: The Sequel Project The East Wind Amol Marathe 140843 Linglan Tan 140838 Xiangyu Zhou 140912 Date: 20/11/2014 Arundel Partners: The Sequel Project The East Wind Executive Summary: Arundel group is looking into the project of purchasing the sequel rights associated with films produced by one or more major movie studios in United States. Arundel believes that they can calculate a value for the rights to produce these sequels and take a position by investing in a portfolio conformed of these rights. Arundel Partners plans to make money by negotiating an option price below its net present value calculation and obtaining its expected returns on the option. The proposal is appealing to studios because sales of sequel rights can help them finance initial production, If particular movie becomes a sequel then the value of the option will increase and Arundel will either exercise the right to make the sequel or sell the right either to the original studio or a third party willing to take on the project. The principals at Arundel Partners are inclined to buy a portfolio of all these sequel rights rather than individual films given that Arundel wants to avoid buying the rights of movies that are not expected to perform well. Movie rights are supposed to be purchased prior to films being made. Arundel wants to come up with a decision to either purchase all the sequel rights for a studio's...
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...Arundel Partners: The Sequel Project Question 1: Arundel Partners thinks they can make money by buying the rights to sequels because of the possible arbitrage opportunity between the price they would pay for an option to sequels and the sequels’ real value. Therefore, valuing the option correctly takes great importance. The partners want to buy a portfolio of rights in advance rather than negotiating film-by-film to buy them because it is of critical importance to Arundel that a number of films and a price per film are agreed upon before either Arundel or the studio knows which films would generate the option of a sequel. If not, once production starts the studio would inevitably have more information on the likeliness that a sequel would be possible. This would put Arundel at a disadvantage, because they would then have to negotiate the price for sequel rights on each film produced while knowing much less than the production studio about the film. For example, if the studio knew that obtaining the rights for the literary work the first movie is based upon took a lot of haggling and work, and that the script has gone through fifteen revisions with six different writers, then the studio may be keen to get rid of the sequel rights. While a film’s profitability is always a gamble, there are often early signs such as these that a movie is going to be a jumbled mess that cost the studio way too much money to produce in the first place. These films tend to do...
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...Arundel Partners: The Sequel Project 1. Why do the principals of Arundel Partners think they can make profits buying movie sequel rights? They would be interested in purchasing the sequel rights for one or more studios¡¦ entire production over an extended period of not less than a year. If a particular film was a hit, and Arundel thought a sequel would be profitable, it would exercise its rights by producing the sequel. Alternatively, they can sell the rights to the highest bidder. Inevitably, the performance of the original films would not justify sequels, and for them the sequel rights would simply not be exercised. For most movies it becomes quite clear after their first few weeks in theaters whether a sequel would be economical or not, based upon each film's box office performance. 2. Why do they want to buy a portfolio of rights in advance rather than negotiating film-by-film? It is of critical importance to Arundel that a number of films and a price per film is agreed upon before either Arundel or the studio knew which films would generate the option of a sequel. In addition, once production started, the studio would inevitably form an opinion about the movie and the likeliness that a sequel would be possible. This would put Arundel at a disadvantage, because they would then have to negotiate the price for sequel rights on each film produced, while knowing much less than the production studio about the film. 3. Estimate the per-film value of a portfolio of sequel...
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...Arundel Partners Case Analysis Executive Summary: A group of investors (Arundel group) is looking into the idea of purchasing the sequel rights associated with films produced by one or more major movie studios. Movie rights are to be purchased prior to films being made. Arundel wants to come up with a decision to either purchase all the sequel rights for a studio's entire production during a specified period of time or purchase a specified number of major films. Arundel's profitability is dependent upon the price it pays for a portfolio of sequel rights. Our analysis of Arundel's proposal includes a net present value calculation of each movie production company. In order to decide whether Arundel can make money buying movie sequel rights depends on whether the net present value of the production company's movies is higher than the estimated 2M per film required to purchase the rights. Problem Identification: How are the principals of Arundel Partners planning to make money by buying rights to sequels? They would be interested in purchasing the sequel rights for one or more studios¡¦ entire production over an extended period of not less than a year. If a particular film was a hit, and Arundel thought a sequel would be profitable, it would exercise its rights by producing the sequel. Alternatively, they can sell the rights to the highest bidder. Inevitably, the performance of the original films would not justify sequels, and for them the sequel rights would simply not...
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...solutions to arundel partners case http://www.justanswer.com/law/0vnrc-solutions-arundel-partners-case.html Executive Summary: A group of investors (Arundel group) is looking into the idea of purchasing the sequel rights associated with films produced by one or more major movie studios. Movie rights are to be purchased prior to films being made. Arundel wants to come up with a decision to either purchase all the sequel rights for a studio's entire production during a specified period of time or purchase a specified number of major films. Arundel's profitability is dependent upon the price it pays for a portfolio of sequel rights. Our analysis of Arundel's proposal includes a net present value calculation of each movie production company. In order to decide whether Arundel can make money buying movie sequel rights depends on whether the net present value of the production company's movies is higher than the estimated 2M per film required to purchase the rights. Problem Identification: How are the principals of Arundel Partners planning to make money by buying rights to sequels? They would be interested in purchasing the sequel rights for one or more studios¡¦ entire production over an extended period of not less than a year. If a particular film was a hit, and Arundel thought a sequel would be profitable, it would exercise its rights by producing the sequel. Alternatively, they can sell the rights to the highest bidder. Inevitably, the performance of the original...
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...you have attained. | Part C:Career-Focused Seminars/Workshops (ECA10C – Employment Relation Office) | | a) Career preparation workshops | | b) Resume writing | | c) Job interview skills | | d) Mock Interview | | e) Dress Smart as a habit for your career | | f) Grooming for Success | | g) Presentation skills to impress employers | | h) Writing a business proposal | | i) Team workshop | | j) Image building for Self-confidence | | k) Self-financial planning | | l) Optimize learning in First year career | | m) Relations with Employer | | The speaker was Dato Gan Ah Tee who is a managing partner of BDO in Malaysia, | is one of the World's 5th largest professional services network and Also is the | Regional Senior Partner for Asia Pacific Region ‘C’ (ASEAN) of BDO. Dato’s drive | since his early age has seen him rise quickly to the top. Prior to his appointment to the | board of BDO, Dato’ Gan was the Managing Director of the Financial Advisory Services | Department at one of the Big 5 accounting firms. With over 30 years’ experience in, | auditing, accounting and financial advisory, Dato’ Gan specialises in corporate | turnaround and financial restructuring of under- performing companies, and has | extensive experience in the field of corporate finance and advisory assignments. | For his successful in his career life, he own his 8 guiding principles in his life, | The first...
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...Shall We Dance This is my second movie for this project. After watching Dirty Dancing, I had a big expectation to the next movie, so I wanted to choose the other movie carefully. I checked the list of the movies given by my friend. There was a little familiar movie, ‘shall we dance’ because it is also very well-known movie, so everyone can hear its title at least once even though they are not interested in movie or dancing. Therefore, I decided to watch this movie and I hoped it would be great as much as Dirty Dancing was. This movie was made in Japan first, and it was given a lot of good reputation. Therefore, it was remade in the US 8 years after the original one had made. Although I had two options to choose, I picked Japanese version, original movie, in that it was given better reputation. Also, I wanted to watch original movie first. It was a really good decision. I love the storyline of the movie and actors` acting ability. Above all things, I really love its sensitivity in the movie that was still but otherwise vital in terms of the process that main character, Sukiyama, find the real joy in his life through dancing. I could have a chance to think about myself and meaning of my life like dance teacher, Mai. It was another delight after watching this movie. Therefore, I really would like to recommend this movie to my family and friends. Here is more concrete storyline. There is a middle-aged man whose name is Sukiyama. He suddenly becomes lethargic. He is a successful...
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...story by Dorothy Parker, tells the story of an unnamed woman’s complaint with a dance partner. The pair meets at a party, when all the other dance partners are unavailable. The woman complains about the way the Man dances. Everything the man does, from the way he looks, to the steps he takes, to his cockiness makes her upset. However, the woman does not say anything to her partner. She struggles silently and it is only the reader who knows why the woman is upset. The story ends and after the dance, and the woman never reveals her thoughts or feelings. The story is an allegory because it tells a story through the story. Parker writes about a dance, but the dance represents more then the dance between the two characters. The dance expresses the relationship that women and men have. The woman, never wanted to talk to the man, but she is forced to. The woman didn’t want to dance with the man but she is forced to. The woman didn’t make mistakes while dancing, but after dancing with him she is forced to lie and say she did. The main character is never able to tell her partner her thoughts about the man’s character and behavior. The waltz is a dance complete by two partners. The male and female dancers both have parts to this dance and they both need to work together and work separately in order to make the dance a beautiful one. However, in the woman’s perspective, the man is unable to be a good partner because of the way he acts. He is very forward in his manner and dancing. He controls...
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...to enjoy dance as a form of exercise activity. • To develop pupils creativity by setting tasks to create phrases of artistic movement. • Pupils will develop their body control and body awareness. • Pupils will individually improve their dancing ability and their overall coordination. • Pupils will compose and evaluate short dances individually and in groups. • Observation of pupils’ movements and attitude towards classmates and teacher. • Assessing pupils’ individual improvements. • Assessing the final performance of the groups taking into consideration movement, rhythm and use of space. Weekly structure Week 1: Focus of lesson is travelling and use of space Warm up Ice-breaking game – mimicking your partner Exploring different ways to travel across the hall (speed, height, transfer of weight Movement sequence Composing task Week 2: Focus of lesson is on levels and dynamics (how the body works) Warm up Pair work (mirroring, shadowing) The “Haka” routine Composing task Week 3: Focus of lesson is on...
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...* BalletBallet is a specific academic dance form and technique which is taught in ballet schoolsaccording to specific methods. There are many ballet schools around the world that specializein various styles of ballet and different techniques offered. Works of dance choreographedusing this technique are called ballets, and usually include dance, mime, acting, and music(usually orchestral but occasionally vocal). Ballet is best known for its unique features andtechniques, such as pointe work, turn-out of the legs, and high extensions; its graceful,flowing, precise movements; and its ethereal qualities. These carefully organized movementstell a story or express an idea.Ballroom dancingBallroom dance, refers collectively to a set of partner dances, which originated in the Westernworld and are now enjoyed both socially and competitively around the globe. Its performanceand entertainment aspects are also widely enjoyed on stage, in film, and on television.While historically ballroom dance may refer to any form of formal social dancing asrecreation, with the eminence of dancesport in modern times the term has became muchnarrower in scope, usually referring specifically to the International Standard andInternational Latin style dances (see dance groupings below). In the United States, twoadditional variations—"American Smooth" and "American Rhythm"—have also beenpopularized and are commonly recognized as styles of "ballroom dance".Break dancingBreakdance, breaking, b-boying or b-girling...
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...in the country is the one from the book "Philippine Folk Dances v1" by Francisca Reyes Aquino, published sometime in 1940. The version integrated all the common dance figures among the many versions throughout the land. Three versions of this courtship-festival dance were found in Panay Island, the "Home of the Carinosa". Three different dance researchers discovered three equally beautiful Cariñosa dances. Petronila Suarez had her Carinosa Binggawan, Jose Balcena's informant; an old dancing virtuoso name Casimiro earned him the identity of Balcena's cariñosa version: Tatay Meroy Cariñosa. Tatay Meroy was an old bachelor from Roxas City who because of old age became aggressive in his courting of a future partner. This version dramatizes Tatay Mero's pursuit of his partner who teases him by flirting. Prolific Visayan dance researchers Libertad Fajardo and her daughter Joanne discovered a Cariñosa version from San Joaquin, Iloilo. The San Joaquin cariñosa is probably the most flirtatious of all known versions. Here, the couple does not simply do some hide-and-seek in a vertically spread handkerchief but also does the combing of each partner's hair and even...
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...Facebook & Yelp: A Platform for Redemption Blake Brown Arizona University Facebook & Yelp: A Platform for Redemption Introduction In 2004, private-equity firm Elevation Partners launched amid the fanfare of having U2’s Bono as a co-owner and a $1.9 billion investment fund. Bad bets on companies coupled with the high turnovers between some of the firm’s initial six founders, left Elevation Partners in a far too precarious of a state for their investors. Elevation initially promised their investors they would have their money back after ten years along with annual returns starting at 8%. 2010 saw the firm only able to return $8 million in profits to investors, but 2012 is an entirely different story. Elevation is hoping that investments in Facebook and Yelp will make their investors forget about the several missteps they have endured along the way. Analysis Backed by technology-industry veterans and the front man of the world’s most successful rock group, Elevate is in the process of raising $1 billion for a new investment fund. Attempting to rise from the ashes after investments in Palm Smartphones, Forbes Media LLC, and other companies left Elevation’s investor’s pockets far less deep then they had been promised. Despite rival private-equity funds questioning the stability of the management of the two funds, Elevation’s luck seems to be changing. Their lottery tickets of sorts lies in the performance of two social media titans, Facebook and Yelp. After...
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...some knowledge about it like the country origin, the tempo and etc. Then we proceed to learn the dance steps. At that moment I felt excited and afraid because I never imagine I will learn dancing in my college life. That was my first time to dance with guys, I felt afraid and I don’t know who will be my partner but during the dance I feel happy and enjoyable. The steps that we learned it was something basic so it was easy to learned it. We learned the steps fast not only because of that but also because of the music for that dance is lively, joyful and also our teacher taught us well. She taught us step by step, and we didn’t waste any minute for practicing it. I was so tired that time because our class, boys are more than girls almost three times. Each girl had two or three partners. I should dance with my partners alternately. My partners had the chance to rest but I didn’t have. My legs got ache, it was super pain and tired. Sweat none stop dripped from my face. Even I wipe and wipe still dripping from my face. I felt sorry for one of my partner, I stepped his feet many times. Not bad he didn’t get mad. I really felt sorry to him. There were sometimes I got shock, my partner suddenly pulls my arm because he wanted to make a turn, but I got shock so I didn’t followed it and our steps became disorderly again. This kind of situation happened many times in our dance last time. In my opinion the two of us should have a strong unvoiced pact for us to dance well and nice. Before...
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...TANYA NOLAN: Struggling clothes-maker Pacific Brands is the latest company to become a private equity takeover target. The maker of Bonds undies, Berlei bras, Sheridan sheets and Dunlop, among other well-known brands, has been approached by US-based investment firm Kohlberg Kravis Roberts. It's the latest in a string of buyout offers for listed companies that have seen their share prices hit by market jitters and an exodus of investors from struggling industries. Business reporter Michael Janda reports. MICHAEL JANDA: Private equity firms are the predators of the investment world, looking for weak companies they can buy on the cheap and turnaround before selling them on to someone else, or floating them on the share market. Katherine Woodthorpe is the chief executive of the Australian Venture Capital and Private Equity Association. KATHERINE WOODTHORPE: The bottom line is that they see a company that they believe they can double the value of in a period of something like three to five years. MICHAEL JANDA: The latest firm to join the list of targets is Pacific Brands. It confirmed this morning that it's been approached by the US-based investment firm Kohlberg Kravis Roberts, but it says negotiations are ongoing and there's no certainty of an offer even being made. If a successful offer is forthcoming it would be a return to private ownership for Pacific Brands, which was floated by its previous private equity owner CVC for $2.50 a share in 2004. At...
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...Product Category Dancing has always been part of people's lives, it is a historical tradition. Ballroom dancing has been alive at social functions for centuries, in many parts of the world, such as countries in Europe and Asia. In recent years, Ballroom and Social dance has proved its long lasting presence in our lives, especially now since in today's media with shows like Dancing With The Stars and S.Y.T.Y.C.D. Also with Ballroom Dancing being considered as a medal sport in the next Olympics, more people will be exposed to Social and Ballroom dance. PASSION Dance is dedicated to bringing quality and affordable dance instruction to Sacramento. There is a very active and dedicated ballroom dance community already located in Sacramento. However, there has never been an actual dance studio, where these people can expand their knowledge of dance and enjoy being with other people of like interests. It is our plan to incorporate the existing dance community into our studio to begin with a strong base of supporters. From there we will be able to spread the word that dancing is a fun and exciting way to spend time. There are many benefits to dancing that will attract people from many backgrounds and interests. PASSION Dance, soon to be located in Sacramento, California, will provide the community with a comfortable, friendly environment in which to learn the art of partnership dancing. PASSION Dance will offer private dance instruction, group classes, social dance parties and rental...
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