TheChek News Flow

New York-based A24 will produce multiple films for Apple, according to people familiar with the partnership. The world’s most valuable company, which last year allocated more than $1 billion to build out a slate of scripted shows, is following the playbook of Amazon.com Inc. and Netflix Inc. in pushing into feature-length, adult-oriented films.

Previously, Apple’s original-content team had only signed deals for the documentary film “The Elephant Queen” and a family-oriented, animated film, “Wolfwalkers.”

A24 became one of the buzziest companies in Hollywood quickly after its founding in 2012. Its films are often more successful in provoking cultural conversation than profiting heavily from ticket sales, a signal the Apple deal is more about brand cache than box-office windfalls.

In 2017, its movie “Moonlight” won the Oscars for best picture, best adapted screenplay and best supporting actor. The film wasn’t released widely in theaters and was among the lowest-grossing movies ever to win best picture.

Apple declined to comment on whether any of the A24 films will have theatrical releases.

Netflix has resisted wide theatrical releases for its original movies, only showing feature films like “Mudbound” in a handful of locations in order to adhere to Academy Awards rules that require a theatrical release to qualify for an Oscar. Amazon has stuck with a more traditional model of releasing movies like “Manchester by the Sea” in theaters in multiple markets before they are available to stream on its service several weeks later.

The movies deepen Apple’s push into original content. As the world-wide smartphone market sputters, the iPhone maker is trying to accelerate a growing services business that includes app store sales, mobile payments and a music-streaming subscription offering. Its emerging strategy is to offset the slowing number of iPhones it sells by growing revenue through a combination of higher-priced devices and software and services sales.

The company last year poached top Hollywood executives—Jamie Erlicht and Zack Van Amburg—from Sony Corp. to spearhead its video effort. The executives, who oversaw Sony Pictures Television productions such as “Breaking Bad” and “The Crown,” will oversee the push into feature-length films, the people familiar with the partnership said. They have previously signed deals with media mogul Oprah Winfrey and actor and producer Reese Witherspoon for a series of shows that are expected to debut next year.

Apple has twice postponed the launch of its first slate of shows, moving it to March from late this year, according to people familiar with the change. The company wants the shows to support a video service on its TV app that could be bundled with subscriptions such as iCloud storage or future device sales, those people said.

A24’s success comes as major studios have shifted their focus away from adult-oriented art-house offerings to big-budget franchise titles like “The Avengers” and “Jurassic World.” A24 hasn’t shied away from edgier fare: One of its first releases, “Spring Breakers,” featured former Disney Channel stars appearing as debauched college students.

The filmmaker has released dozens of movies in recent years, but many have played in a handful of theaters or gone straight to video. The company’s widest release came this year with the horror film “Hereditary.” After it bought the project for distribution at the Sundance Film Festival, the movie made $44 million in the U.S. and Canada.

Alfred Conciergerie acquired by Elior Services

Elior Group [EPA: ELIOR], the French operator in the catering and support services industry, announced on 15 November that its healthcare hospitality, cleaning and facility management subsidiary Elior Services has acquired Alfred Conciergerie, a France-based provider of digital concierge services designed to simplify the everyday life of its users. Elior Services reinforces its hospitality positioning and diversifies its services offering in France.

Alfred Conciergerie supports its customers every day by offering attractive and personalized services around-the-clock via its digital platform, L'A boutique, as well as physical solutions via a counter or locker system, depending on the needs of its clients.

This range of services meets everyday needs, as well as those related to unexpected or special events, thanks to a network of professional partners providing services such as home help, child care, pet sitting, ironing, odd jobs, taxi order, shoe repair and event planning, etc.

"The acquisition of Alfred Conciergerie is in keeping with the Elior Group 2021 plan and will enable us to diversify our services offering. Alfred Conciergerie is a trusted partner committed to respecting the environment by offering a range of responsible services. This acquisition will enable us to create gateways and synergies between the Group's various activities so as to better anticipate the challenges of the future," stressed Gilles Rafin, President of Elior Services.

Opponents win backing of former chair and member of founding family of Japanese drugmaker

A dissident group of shareholders is making a final push to block Takeda’s £46bn acquisition of Shire by bringing in the most influential member of the Japanese pharmaceutical group’s founding family to support its campaign. 

Kunio Takeda, the group’s former chairman and the last member of the Takeda family to run the 237-year-old drugmaker, opposes the takeover of the Irish rare diseases specialist, according to two people close to Mr Takeda. 

Mr Takeda, who is based in Singapore, declined a request for comment made via the Takeda Science Foundation, a charitable organisation that funds research, where he is chairman. 

Takeda has set December 5 as the date for an extraordinary general meeting to vote on the deal, which would require approval from two-thirds of shareholders to issue new shares to finance the acquisition. 

The founding family members, which together own an estimated 10 per cent of Takeda, are unlikely to be able to rally enough support from other investors to overturn the acquisition. 

But their activities have gathered investor attention in a country where founding family voices can hold an emotional sway over the votes of individual retail investors, who account for a quarter of Takeda’s shareholders. 

Christophe Weber, chief executive of Takeda, has expressed confidence in winning the shareholder vote, saying the deal would accelerate the group’s transition into a global pharmaceuticals player. 

Mr Takeda has not been involved in the group’s management since stepping down as chairman in 2009 after choosing the first president from outside of the Takeda family. He has not commented publicly on the Shire acquisition. 

“But he never imagined that the company would pursue such a radical form of globalisation,” said one person close to Mr Takeda. “He has recently expressed his views that he is against this deal.” 

Mr Weber, Takeda’s first non-Japanese chief executive, has spent hours meeting with members of the Takeda family to allay their concerns about the $48bn in net debt the company will shoulder after the deal closes. 

But he has also expressed frustration about the dissident campaign involving 130 Takeda shareholders and former employees, saying their position does not reflect the views of other shareholders. 

The group, which holds just over 1 per cent of Takeda’s stock, believes it can win support from about 25 per cent of Takeda shareholders.

But analysts say the target is too optimistic, considering their lack of success in winning support from retail investors.

Some Japanese institutional investors, which account for 31 per cent of the group’s shareholders, have sympathised with their argument that the company has not disclosed enough information on Takeda’s financial prospects after the acquisition. 

“In the current environment where scale does not necessarily lead to the success of a global pharmaceutical company, there needs to be more explanation on where Takeda is heading,” said one. “Longer term, will Takeda need to continue finding the second and third Shire?” 

But people close to some of Japan’s biggest institutional investors added that many are expected to back the deal as they see few other immediate alternatives to strengthen Takeda’s thinning pipeline of drugs. 

Kazu Takeda, a key member of the dissident group and also part of the founding family, admitted the outlook for overturning the deal was “very grim”. 

“We will continue to gather support until the last day,” Mr Takeda said. “If Takeda does succeed in acquiring Shire, it will no longer be a Japanese company.”

Asian equities rounded out the week in mixed fashion as investors gauged whether China and the U.S. can de-escalate their trade spat before the G-20 summit later this month. The yen gained.

Stocks slipped in Japan, but climbed in most other markets, notably China and Hong Kong. While trade-sensitive industrials led the S&P 500 Index higher and tech stocks rebounded, U.S. futures fell after Nvidia Corp. gave a disappointing sales forecast and Commerce Secretary Wilbur Ross damped hopes of any imminent U.S.-China deal. The pound steadied after Thursday’s plunge as Brexit again threw the U.K. government into turmoil. The dollar slid and Treasuries were steady. Oil held below $57 a barrel in New York.

US After Hours ; SONO +20%, SCVL +13.5%, NVDA -17%, WSM -12%, JWN -10%, AMAT -9% following earnings/guidance

Nikkei -0.57% Hang Seng -0.12% CSI +0.52% Shanghai +0.44% Shenzen +0.86%

Eur$ 1.1350 CNH 6.9310 CNY 6.9395 JPY 113.27 GBP 1.2807 RUB 65.93 CHF 1.0059 TRY 5.3602 WTI$ 56.98 +0.92%

S&P -0.35% EuroStoxx +0.44% FTSE +0.53% Dax +0.49% SMI +0.66%