in the news
O’Melveny’s Calabrese Profiled in Law360 Q&A SeriesSeptember 27, 2011 O’Melveny & Myers' Century City partner Joseph Calabrese, Chair of the Firm’s Entertainment, Sports and Media Practice and Southern California Transactions Practice, was recently profiled in the September 26, 2011 Law360 article “Q&A With O’Melveny’s Joe Calabrese.” In the feature, Calabrese weighed in on subject matter ranging from the most challenging deal he has encountered, to how the industry is changing in current economic conditions to lessons learned as a young lawyer.
In his profile, Calabrese discusses in detail how representing Digital Cinema Implementation Partners LLC (DCIP), a joint venture of AMC Entertainment, Cinemark Holdings and Regal Entertainment, in a US$1 billion deal to launch digital cinema projection equipment to nearly 15,000 theater screens across North America, proved to be his most challenging deal. He states, “At the peak of the financial crisis, my team and I helped three of the United States’ largest theatrical cinema companies, several major motion picture studios, and sophisticated finance and investment companies to change their traditional business model and join the digital age. Our team worked tirelessly on multiple aspects of the financing and our efforts were recognized by Investment Dealers’ Digest, which selected the transaction as the 'Media Deal of the Year' in 2010.”
With respect to the changing face of the industry, Calabrese remarks how the recent strikes occurring in the professional sports leagues “hold the potential to not only change the season’s schedules and programming of their televised games, but how these changes have a downstream impact on other live programming such as the Golden Globe Award shows and the 2012 Olympic Games in London.”